ALBANY- State Comptroller Tom DiNapoli has announced a $50 million commitment to invest in Northern Ireland companies from the New York State Common Retirement Fund. As the sole trustee responsible for retirement fund the state Comptroller is directly accountable for its performance, oversight, and management.
“Northern Ireland’s dynamic economy has proven a good investment for our state pension fund and I am gratified that we have the opportunity to expand on our long-standing economic relationship,” said DiNapoli. “Our commitments in Northern Ireland have provided a solid return and that’s good news for the 1.1 million working and retired members of our pension system.”
Joseph Kennedy III, U.S. Department of State Special Envoy for Northern Ireland Economic Affairs spoke to the long-standing relationship between the state pension fund and Norther Ireland’s economy.
“For years, Comptroller DiNapoli and the members of the New York Pension system have bet on the people of Northern Ireland and invested their pension dollars in Northern Ireland’s future. Their faith in the people and the business opportunities have been rewarded, and I’m thrilled that the Comptroller and the people of New York are set to renew their investment given the exciting opportunities that lie ahead,” said Kennedy.
The investment from the state pension fund’s private equity program will be managed by 57 Stars, a Washington D.C. based investment manager.
