New York State Teachers' Retirement System, Albany, committed $200...

New York State Teachers’ Retirement System, Albany, committed $200 million and $150 million, respectively, to private equity limited partnerships Clayton Dubilier & Rice Fund VI and Hellman & Friedman Capital Partners IV. Funding will come from the fund’s 1% allocation to alternative investments, said Dave Daly, a spokesman. The $85 billion system also placed two international managers — Bankers Trust, which runs a passive $1.3 billion portfolio, and Schroder, which runs $320 million in an active portfolio — on its watch list. The fund’s consultant, Callan, is concerned about recent personnel changes in the Bankers Trust indexing team, Mr. Daly said. Schroder was put on the watch list for underperformance, he said. Neither firm responded by deadline. The fund also moved $100 million from its cash flow to Sentinel Real Estate. It also committed up to $175 million, plus closing costs, to purchase positions in 14 shopping centers from New England Development. The fund adopted the Lehman Brothers Aggregate Bond index as its benchmark for its $12.8 billion in-house, fixed-income portfolio. The new index has exposure to mortgage-backed securities, unlike the fund’s previous fixed-income benchmark, the Government Corporate Bond index.