New York Attorney General Andrew Cuomo and the US Securities and Exchange Commission are examining whether The Carlyle Group and other private equity firms and hedge funds made improper payments in order to receive investments from the state's pension fund, a person familiar with the investigation said Tuesday.

The probe is an industry-wide investigation and includes a number of firms mentioned last month as participating in more than 20 investment deals involving the New York State Common Retirement Fund that were tainted by an alleged kickback scheme, the person said.