New York State Teachers’ Retirement System, Albany, made an additional investment of $125 million to Donahue Schriber Realty Group, said John Cardillo, a spokesman for the $107.6 billion pension fund.
Donahue Schriber, a real estate investment trust, “develops and manages grocery-anchored shopping centers” in the western U.S, Mr. Cardillo wrote in an e-mail. The pension fund has had, since 1997, a relationship with the firm, which manages $523 million of the pension fund’s assets, excluding the new investment.
The investment was approved Thursday at the quarterly meeting of the pension fund’s governing board.
The board also approved one-year renewals for the following managers:
- Iridian Asset Management, which manages $1.1 billion in domestic midcap equity;
- BlackRock, which manages $484.6 million in commercial mortgage-backed securities;
- Torchlight Investors, which manages $414.4 million in commercial mortgage-backed securities; and
- FIS Group, which manages $102.3 million as a manager of international equity managers;
The pension fund also reported an investment return of -0.4% for the quarter ended Sept. 30, the first quarter of the current fiscal year and the most recently audited result.