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New York State Common Retirement Fund plans to invest $5 billion in Africa

At a conference in London last week, Vicki Fuller, the Chief Investment Officer of one of the United States’ largest pension funds, the New York State Common Retirement Fund, revealed that it is planning to allocate as much as 3% of its assets, (approximately $5 billion), to investing in Africa over the next 5 years.

Private equity, venture capital, infrastructure and real estate opportunities all look set to benefit. With priority being given to managers with offices in African countries, The Wall Street Journal reports that the fund will commit $100 million or more to firms managing over $500 million in assets, while investing in smaller funds and companies through funds-of-funds managers. 

Read the full article at The Wall Street Journal…

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