New York City Teachers' Retirement System will issue an RFP for its...

New York City Teachers’ Retirement System will issue an RFP for its first REIT manager sometime in the next six months, said Jane Levine, deputy comptroller for pensions. The system, with $37 billion in defined benefit assets as of June 30, allocated 3% of assets to REITs, said Ms. Levine, who said funding likely will come from equities. As of June 30, the pension fund had 78% of its defined benefit assets invested in equities; of that, 62% of the total fund was in domestic equities and 16% in international equities.