New York State Common Retirement Fund Has $31,000 Stake in FibroGen, Inc. (NASDAQ:FGEN)

The New York State Common Retirement Fund (NYSCRF) is a public pension fund that manages retirement benefits for state employees and retirees in New York. As of 2021, the NYSCRF has over $200 billion in assets under management, making it one of the largest pension funds in the world.

FibroGen, Inc. (NASDAQ: FGEN) is a biotechnology company that develops and commercializes therapies for fibrosis, a condition characterized by excessive scarring of tissues. The company's lead product, GEDOLIZUMAB, is approved in the United States for the treatment of idiopathic pulmonary fibrosis (IPF), a progressive lung disease that affects approximately 100,000 people in the US.

In 2020, the NYSCRF disclosed that it had a $31,000 stake in FibroGen, Inc., which represents less than 0.01% of the fund's total assets. The investment was made through the fund's alternative investments program, which allows the fund to invest in private equity, hedge funds, and other alternative investment vehicles that may offer higher returns than traditional stocks and bonds.

It is worth noting that the NYSCRF has a long-standing commitment to responsible investing practices, including environmental, social, and governance (ESG) considerations. The fund has pledged to invest at least 5% of its assets in ESG strategies by 2025, and it regularly evaluates its investments based on their alignment with the fund's values and goals.

Overall, while the NYSCRF's stake in FibroGen, Inc. is relatively small, it reflects the fund's ongoing efforts to diversify its investment portfolio and seek out opportunities for long-term growth and stability.