New York State Teachers' Retirement System, Albany, re-hired the following active equity managers: Barclays Global Investors, $1.3 billion, and Merrill Lynch, $803 million, both in international enhanced index; Capital Guardian, $1 billion, and Bank of Ireland Asset, $627 million, both in international; Iridian Asset Management, $647 million, domestic large-cap value; and Montag & Caldwell, $403 million, domestic large-cap growth.
Separately, the $79 billion system authorized up to $475 million in new private equity commitments: up to $150 million each to Abbott Select Buyouts Fund and Lexington Middle Market Investors; up to $50 million each to Parish Capital I, Silver Lake Partners II and Capri Select Income II; and up to $25 million to Kelso Investment Associates VII. Funding will come from cash. The system also renewed INVESCO Private Capital's contract as private equity consultant for one year. The system's private equity portfolio is $1.3 billion.
The system also authorized establishing an internally managed domestic enhanced indexed portfolio of up to $1 billion, to be known as the S&P 1500 composite. The portfolio will be funded from the system's internally managed domestic passive S&P 1500 portfolio, reducing it to $33 billion.
