New York State Teachers' Retirement System, Albany, has made up to $350 million in private equity and real estate commitments.
NYSTRS, which had an estimated $94.9 billion in assets as of June 30, committed up to $150 million to be the sole limited partner in Lexington Emerging Partners LP, a global private equity fund focusing on investments in Asia and Latin America, spokesman John Cardillo said in an interview.
Since 2002, NYSTRS has committed a total of $1.68 billion to nine other funds managed by Lexington Partners, Mr. Cardillo said.
NYSTRS also made a $100 million commitment to the Cabot Industrial Fund IV, which invests in industrial property limited partnerships. NYSTRS has committed a total of $150 million to three other such funds managed by Cabot Properties.
The pension fund also made an additional commitment of $100 million to Prima Capital Advisors, which already manages $263.7 million in investment-grade real estate investment trusts and commercial mortgage-backed securities for NYSTRS, Mr. Cardillo said.
The board also renewed several contracts, each for one year and each to take effect when existing contracts expire:
- Cohen & Steers, which manages $255.1 million in REIT and real estate operating company securities;
- Baillie Gifford Overseas, which manages $422.4 million in ACWI ex-US international equity;
- William Blair, which manages $508.5 million in international all-cap growth;
- T. Rowe Price, which manages $478.1 million in enhanced passive domestic equities;
- Progress Investment Management, which manages $643.4 million in a fund of funds for all-cap domestic equities; and
- Leading Edge Investment Advisors, a manager of managers for $318.8 million in domestic equities.