New York State Teachers' Retirement System, Albany, has renewed contracts with four investment managers, each for one year, that run a total of $2.1 billion, confirmed John Cardillo, a spokesman for the $120.7 billion pension fund.
The renewals are for:
- Iridian Asset Management, which manages $1.15 billion in active domestic midcap equities; the contract renewal is effective April 1;
- BlackRock (BLK), which manages $541.3 million in commercial mortgage-backed securities, effective April 3;
- FIS Group, which manages $278.4 million in international equities benchmarked to the MSCI ACWI ex-U.S. index, effective April 25;
- Ariel Investments, which manages $136.3 million in international equities benchmarked to the MSCI ACWI ex-U.S. index, effective April 10.
The renewals were approved Jan. 25 by the pension fund's governing board at its quarterly meeting.