New York State Teachers’ Retirement System, Albany, approved one-year renewals several consultants and money managers.
It renewed Aon Hewitt Investment Consulting as general investment consultant and Callan Associates as real estate consultant. Both renewals take effect Feb. 1, and both were approved Oct. 29 by the $109.7 billion pension fund’s governing board at its quarterly meeting.
The board also renewed several money manager contracts. Each renewal is for one year and takes effect upon the respective expirations of the current contracts.
The renewals are for:
- BlackRock Institutional Trust Co. to manage $7.9 billion as a passive international equity manager, effective Dec. 12;
- State Street Global Advisors to manage $7.9 billion as a passive international equity manager, effective Feb. 18, 2016;
- Loomis Sayles & Co. to manage $777.6 million as an active global bond manager, effective Nov. 8;
- AQR Capital Management to run $582.9 million as an active international equity manager, effective Jan. 6, 2016;
- Aberdeen Asset Management to run $520 million as an active international equity manager, effective Dec. 15;
- Marathon Asset Management to run $482 million as an active EAFE international equity manager, effective Jan. 24, 2016;
- Prima Capital Advisors to manage $360.5 million in commercial mortgage-backed securities and other assets in a separate account, effective Nov. 1;
- RREEF America to manage $286.2 million in an active international real estate securities investment strategy, effective Dec. 1; and
- LaSalle Investment Management to run $131.6 million in an active international real estate securities investment strategy, effective Dec. 1.
The governing board also authorized Thomas Lee, the executive director and chief investment officer, to renew for the next three fiscal years a contract with KPMG for audit services, including an examination of the pension system’s financial statements.
