New York State Teachers’ Retirement System, Albany, hired manager of managers Leading Edge Investment Advisors to run $250 million in all-cap domestic equities.
The $76 billion system also committed $100 million to the HIPEP Select Asia Fund, a private equity fund managed by HarbourVest Partners and up to $125 million to the HarbourVest/NYSTRS Co-Invest Fund.
John Cardillo, system spokesman, wrote in an e-mail response to questions that the system has previously committed a total of $881 million to seven other HarbourVest funds.
The allocations are pending completion of due diligence, according to the website.
Separately, Iridian Asset Management was removed from the system’s watchlist; performance of the $520 million active midcap domestic equity portfolios Iridian runs had improved, Mr. Cardillo said.
The system also renewed Hewitt EnnisKnupp as general investment consultant and StepStone as private equity consultant, both for one year effective Feb. 1, 2011. The system’s contract with the former Ennis Knupp & Associates took effect Feb. 1, 2010; StepStone has been a consultant with NYSTRS since Feb. 1, 2008.