In-State Private Equity Program Sees Big Gains

New York State Comptroller Thomas DiNapoli announced that nearly $400 million is available for investing in New York-based companies through the New York State Common Retirement Fund’s In-State Private Equity Program.

Since taking office in 2007, DiNapoli has added $624 million, or more than double the amount for investing, to the program for a total commitment of more than $1 billion.

The state legislature created the In-State Private Equity Program in 1999 as part of the Jobs 2000 legislation. The original investment goal was $250 million, which DiNapoli achieved in October 2007.

He later added $383 million to the program in November 2007 and another $241 million in later years.

Throughout the fall, DiNapoli will be holding meetings and participating in events to inform New York entrepreneurs and businesses about the opportunities available through the In-State Program.