updated May 5, 2010
New York State Teachers' Retirement System, Albany, hired William Blair and Grantham Mayo van Otterloo to manage $250 million each in international growth equities, according to the $82.5 billion system's website.
The hirings are subject to completing due diligence, according to the minutes of the system's April 27 board meeting, posted on the website.
Funding for the two hires will come “from within the international equity allocation,” said Heidi Brennan, a spokeswoman for NYSTRS. She would not elaborate.
Ms. Brennan said the target allocation for international equity remains at 15% subject to a range of 11% to 19%. The actual allocation as of March 31 was 12.7%, she said.
The board also approved one-year contract renewals, effective July 1, for REIT managers Adelante Capital Management, which runs $235 million; Cohen & Steers, $560 million; and RREEF America, $270 million, Ms. Brennan said.
