ASSET OWNERS

New York State Teachers commits $260 million to private equity

New York State Teachers' Retirement System, Albany, made four commitments totaling $260 million during the quarter ended Dec. 31, according to a document prepared for its retirement board, which sets policy and oversees operations of the $88.1 billion pension fund.

According to the document prepared for the board's quarterly meeting on Thursday, the pension fund made the following commitments:

Separately, NYSTRS “will thoroughly review” a proposal by Gov. Andrew Cuomo to create a flat-rate pension contribution system for employers, Ms. Brennan said Thursday.

“This review will be weighed along with the system's fiduciary responsibility to ensure the long-term soundness of the plan.”

The proposal requires approval by the state Legislature as well as support by the teachers' pension fund and state Comptroller Thomas P. DiNapoli, sole trustee of the $150.1 billion New York State Common Retirement Fund, Albany. However, Mr. DiNapoli recently said he has “serious concerns” about the plan, although he will withhold judgment pending a formal review.

Ms. Brennan didn't provide additional information or a timetable for the pension fund's decision.