New York State Teachers' Retirement System, Albany, renewed contracts of 10 money managers for one year as well as the contract of investment consultant Hewitt EnnisKnupp, confirmed spokesman John Cardillo.
All of the deals are renewals; the managers were not issued new contracts. The renewals are effective between December and February.
Managers and their assets under management for the $95.4 billion pension fund, as of Sept. 30, are:
- BlackRock (BLK), $7.8 billion in passive international equity;
- State Street Global Advisors, $7.8 billion in passive international equity;
- AQR Capital Management, $543 million in active international equity;
- Aberdeen Asset Management, $522 million in active international equity;
- Marathon Asset Management, $428 million in active EAFE international equity;
- Loomis Sayles & Co., $370 million in active global bonds;
- Dimensional Fund Advisors, $148 million in active emerging markets equity;
- EII Capital Management, $142 million in international REITs;
- RREEF America, $134 million in international REITs; and
- LaSalle Investment Management, $125 million in international REITs
The pension fund also extended agreements with real estate and private equity consultants Callan Associates and StepStone Group, respectively, for a period not to exceed three months while an RFP process concludes. The extensions are effective Feb. 1.
NYSTRS also committed an additional $25 million to Edens Investment Trust, a joint venture with J.P. Morgan Strategic Property Fund and the $48.1 billion Michigan Retirement Systems, Lansing. A $225 million initial commitment was made in May.