New York State Common Retirement Fund invests in Exeter fund for first time. : New York State Common Retirement Fund (NYSCRF) is investing in European industrial and US value-add real estate strategies. The pension fund is now a limited partner in the Exeter Europe Value Ventures III, the first commingled European fund to be launched by Philadelphia-headquartered Exeter Property Group. NYSCRF confirmed to IPE Real Assets that it had made a €150m commitment directly to the fund and an additional €50m for co-investments.