New York State Common Retirement Fund, Albany, terminated Vantage Consulting Group, which ran $31 million in domestic large-cap value equities, according to a news release from Thomas P. DiNapoli, state comptroller and the $132.6 billion fund’s sole trustee.
Robert Whalen, a spokesman for the comptroller, said in an interview that Vantage was terminated for “strategic reasons.” He would not elaborate.
Separately, the fund made a total of $45.2 million in follow-on investments to existing externally managed portfolios in April. It added $7 million to York Opportunities European Unit Trust, an absolute-return portfolio, raising it to $51 million, according to Olayinka Fadahunsi, spokesman for Mr. DiNapoli, in an e-mail response to questions.
Among managers in the FIS Group’s emerging domestic equity program, $15.1 million was added to Stux Capital Management, $12.8 million to Mastrapasqua Asset Management and $10.3 million to Denali Advisors. The total amount the three managers now run for the fund could not be learned by press time. Vantage also was part of the FIS Group portfolio, the news release said.
The fund also invested a total of $6.9 million in affordable housing properties in the cities of Poughkeepsie, Niagara Falls, South Glens Falls and Buffalo, plus the Bronx borough of New York City.