New York State Teachers' Retirement System, Albany, committed $50 million each to Cortec Group Fund V and Artemis Real Estate Partners Fund I, according to John Cardillo, a spokesman for the $80.3 billion system.
The Cortec fund invests in lower- to middle-market leveraged buyouts, while the Artemis fund invests in distressed real estate, Mr. Cardillo wrote in an e-mailed response to questions. Both commitments are pending due diligence reviews.
Separately, the system's board renewed one-year contracts with CMBS managers BlackRock to manage $447 million and Torchlight Investors to manage $382 million. BlackRock's contract is effective April 3; Torchlight's, March 30. The system has $1 billion in CMBS.
Also, Iridian Asset Management was retained to manage $647 million in active domestic midcap equities for one year, effective April 1. The system has $40.6 billion in domestic equity, Mr. Cardillo wrote.