ALBANY, N.Y.—The New York State Common Retirement Fun is investing $15 million with Northern Ireland venture capital firm Crescent Capital.
The allocation followed an intensive analysis by 57 Stars LLC, the manager of the Fund's $100 million Emerging Europe Fund, and is part of an estimated $30 million anticipated investment in Northern Ireland.
"Northern Ireland has the young, skilled workforce and the solid infrastructure that are hallmarks of the long-range economic growth that is critical to our international investment strategy. This partnership will benefit our pension fund and Northern Ireland in the years to come," said DiNapoli.
"Northern Ireland benefits from great universities and a highly educated workforce, and we look forward to Crescent supporting a portfolio of Northern Ireland companies which will generate growth in the region's economy as well as attractive returns for the New York State Common Retirement Fund," said Stephen O'Neill, Managing Director of 57 Stars.
The Fund and 57 Stars continue to seek out opportunities throughout Northern Ireland.