New York State Teachers’ Retirement System, Albany, made up to $380 million in private equity commitments and $140 million in real estate commitments and investments, said John Cardillo, a spokesman for the $108.2 billion pension fund.
The transactions were provided to the pension fund’s board by staff during its quarterly meeting on Oct. 30.
The private equity commitments are:
- up to $100 million to ABRY Partners Fund VIII;
- up to $200 million to Hellman & Friedman Capital Partners VIII;
- up to £30 million ($48 million) to Inflexion Buyout Fund IV; and
- up to £20 million ($32 million) to Inflexion Partnership Capital Fund.
The last two funds are both managed by Inflexion Private Equity Partners.
The pension fund also reported making three real estate-related transactions:
- A $50 million commitment to the Rockpoint Core Plus Real Estate Fund, managed by Rockpoint Group, which Mr. Cardillo described as a value-added fund;
- A $50 million commitment to the Madison Realty Capital Debt Fund III, which Mr. Cardillo said specializes in distressed opportunistic debt; and
- A $40 million investment in the Edens Investment Trust, a real estate joint venture partially owned by NYSTRS, which Mr. Cardillo described as focusing on the “grocery-anchored real estate sector;”
The retirement board also approved the renewal of nine agreements with money managers. Each renewal is for one year and each renewal starts when the respective existing contract expires.
The renewed contracts are:
- Aberdeen Asset Management to manage $578.6 million as an active ACWI ex-U.S. international equity manager, effective Dec. 15;
- AQR Capital Management, $603.4 million as an active MSCI ACWI ex-U.S. international equity manager, effective Jan. 6;
- BlackRock, $8.64 billion as a passive ACWI ex-U.S. international equity manager, effective Dec. 12;
- Dimensional Fund Advisors, $162.6 million as an active emerging markets equity manager, effective Feb. 19;
- LaSalle Investment Management, $134 million in international REITs, effective Dec. 1;
- Loomis Sayles & Co., $513.4 million as an active global bond manager, effective Nov. 8;
- Marathon Asset Management, $481.5 million as an active EAFE international equity manager, effective Jan. 24;
- RREEF America, $143.5 million in an international REITs, effective Dec. 1; and
- State Street Global Advisors, $8.69 billion as a passive ACWI ex-U.S. international equity manager, effective Feb. 18.
