NYC Board of Education Retirement System (BERS)
Public pension plan Still adding venture funds
NYC Board of Education Retirement System (BERS) reports 5 venture funds, $58M in all.
Holdings are from its report as of September 30, 2024. That is more than a year ago: it may have added or sold funds since. “Still adding venture funds”: its newest venture fund is a 2022 vintage, within 3 years of 2024.
The numbers
| Vintage | Venture funds |
|---|---|
| 2020 | 1 |
| 2021 | 2 |
| 2022 | 2 |
Updates from NYC Board of Education Retirement System (BERS)
All of NYC Board of Education Retirement System (BERS)’s updates on Hottub VC
Largest venture holdings
From its report as of September 30, 2024.
| Fund, as reported | Manager | Vintage | Commitment |
|---|---|---|---|
| FTV VII | FTV Capital | 2022 | $24M |
| Insight Partners XII | Insight Partners | 2021 | $19M |
| Insight Partners XII Buyout Annex Fund | Insight Partners | 2021 | $6.2M |
| FTV VII Co-Invest | FTV Capital | 2022 | $5.4M |
| FTV VI | FTV Capital | 2020 | $3.5M |
In the app: 1 fund of funds. Open NYC Board of Education Retirement System (BERS) in LP Intelligence for every fund it holds and how to reach it, or find the LPs that back firms like yours.
How it invests
Selective: it backs fewer of its managers again than three in four LPs that report fund by fund, so each fund is won on its own. It backed 50% of its managers again when they raised a later fund (40 chances), and stays with a manager 4.8 years on average.
From its own report and published commitments. How it invests in LP Intelligence: whether it kept committing through 2022–23, how much goes to managers on Fund I–III, and what it committed to lately.
LPs nearby
Within 100 miles, by city: a trip to one can take in the others.
- Carnegie Corporation of New York
- The Guardian Life Insurance Company of America
- Surdna Foundation Inc
- Franklin Lexington Private Markets Fund
- The Leona M and Harry B Helmsley Charitable Trust
- Partners Group Private Equity Fund, LLC
- The Commonwealth Fund
- Partners Group Growth, LLC
283 LPs within 100 miles in all: see them on the map.
How to submit
Emerging-manager program: Private Equity Emerging Managers Program (New York City Retirement Systems). It considers funds of up to $1B; Primarily Funds I–III.
In its words: “The New York City Retirement Systems' Private Equity Emerging Managers Program "seeks to invest in experienced and proven fund managers with a differentiated investment strategy"; criteria: "Primarily Funds I – III, raising up to $1 billion with a broad institutional investor base", in buyout, growth equity, and distressed/special situations strategies.”
Read from its own pages on October 19, 2026: comptroller.nyc.gov/services/financial-matters/pension/re…, comptroller.nyc.gov/wp-content/uploads/documents/03.19.20…. Programs change; its site is the record.
About this data
Holdings as this LP reports them, fund by fund. Amounts are its commitment to each fund. Fund performance it reports is on each firm’s page. As of September 30, 2024. Source: New York City Board of Education Retirement System Performance Overview: Alternative Assets Manager Performance Detail, Private Equity. Funds are linked to a manager by name; a match can be wrong, and the original filing is the record. How Hottub reads its sources.
From the "Alternative Assets Manager Performance Detail" appendix of the quarterly Performance Overview in the system's investment meeting package, published by the New York City Comptroller's Bureau of Asset Management; the table says its information is provided by the system's consultants and runs one quarter behind the overview. This is the newest package in the library with a private equity table: 3 newer quarterly packages are without one. The return column is labeled "ITD IRR%" (inception to date), not net or gross; the table's total row gives 13.1%. TVPI is the printed "Investment Multiple" (it equals (distributions + market value) / contributions); total value = distributions + market value and DPI = distributions / contributions are computed. Vintage is the report's "Vintage Year (Cash Flow)". IRR is blank where the report prints n.m. (1 investment) or leaves the cell empty (5 commitments with nothing contributed, for which the report prints a multiple of 0.00, left blank here); 3 rows carry a negative market value as printed. All 133 rows of the private equity table, which it heads "TOTAL ACTIVE", are included: funds, co-investment vehicles and emerging manager program vehicles, each program being one row without the funds it holds (the table gives no strategy per row). Their commitments, contributions and distributions add up to the printed TOTAL PRIVATE EQUITY ($1,945,546,444 committed); their market values add up to $1,212,029,767, $575,330 more than the printed total of $1,211,454,437, a difference in the report itself (each row's market value agrees with its printed multiple). The appendix's real estate, infrastructure and opportunistic fixed income tables are not imported.
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