The New York State Teachers’ Retirement System’s real estate investment portfolio returned 12.1% for the year ended June 30. According to the fund's latest investment committee report, the portfolio has returned 8.5% annually over the past 10 years and 9.6% since inception.
The fund's $11.1 billion real estate equity portfolio -- which includes direct investments, commingled funds, public real estate securities and timber -- returned 14.6% for the year. Over the past 10 years, the portfolio has returned 9.9% annually and 8.3% since its inception.
Its $5.9 billion real estate debt portfolio (which includes first mortgages, CMBS and debt funds) returned 7.1% for the year.