New York State Teachers’ Retirement System, Albany, named Madison Dearborn Partners IV and HarbourVest International Private Equity Partners IV as finalists in its private equity search, said Candice Ronesi, spokeswoman for the $90 billion system. Trustees will hear presentations from the finalists at their quarterly meeting Wednesday, and a final decision could be made Thursday, she said. Commitments have not been determined, Ms. Ronesi said. Funding will come from rebalancing; as part of the system’s plan to raise its private equity allocation to its target of 3% of assets, from 0.5%, it has been reducing its domestic equities by $200 million a month.
At the Wednesday meeting, consultant Callan will present the results of the system’s annual performance review of external managers to determine which should be renewed or put on watch.
