37 managers won a first commitment from a public plan; New York State Common Retirement Fund backed Veritas Capital Fund Management, L.L.C. with $300M
37 of 181 dated closings in the window are the plan's first commitment to that manager, by the plan's own word. Largest: New York State Common Retirement Fund $300M to The Veritas Capital Fund IX, L.P. (Veritas Capital Fund Management, L.L.C.), closed 2025-03-07; New York State Common Retirement Fund $250M to Summit Partners Growth Equity Fund XII, L.P. (Summit Partners, L.P.), closed 2024-10-01; New York State Common Retirement Fund $200M to K6 Private Investors, L.P. (K1 Investment Management LLC), closed 2025-12-01; New York State Common Retirement Fund $175M to Hg Saturn 4 A, L.P. (HG Capital Management, LLC), closed 2025-08-08; Texas Municipal Retirement System $150M to HPC GPFS Co-Invest (Zilker), L.P. (Hunter Point Capital LP), closed 2025-04-28; Nys Teachers' Retirement System $150M to Blackstone Infrastructure Partners (Blackstone), closed 2026-02-04.
A first-time manager is a relationship that did not exist before, so it is where a plan's roster is actually changing: an emerging manager that cleared diligence, or an established firm entering a new plan. The plan's own New column is the evidence.