Pension Fund Goes To The Mattresses

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State Comptroller Thomas DiNapoli said today that the state’s pension fund has invested $12.9 million in the Hicksville headquarters of Sleepy’s, one of the nation’s largest mattress retailers.

DiNapoli said the investment in the Nassau County-based Sleepy’s in his home county was made by Hudson River Co-Investment Fund managed by Hamilton Lane. The deal was led by San Francisco-based Calera Capital.

“The state pension fund is investing in New York’s economic future,” said DiNapoli. “Sleepy’s has been doing business in New York for more than half a century and this investment will help them stay here and continue to expand. This company provides a great example of how the In-State Private Equity Program partners with New York businesses to obtain the capital they need to grow and create jobs while generating significant returns for the state pension fund.”

The state Comptroller’s Office spreads some of its $147 billion pension fund into in-state investments. DiNapoli said nearly $1 billion committed to the in-state program since 2001.

DiNapoli’s press release says he plans to visit Rochester soon to look at an investment there.

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