The New York State Teachers' Retirement System, Albany, is conducting a request for information to identify "one or more qualified firms" to manage a commercial mortgage-backed securities separate account, a spokeswoman for the $134.8 billion pension fund confirmed.
"This RFI is to canvass the market for CMBS managers," Heidi Brennan, a pension spokeswoman, said in an email. "New managers may or may not be added."
There is no target allocation for CMBS, but the current portfolio was valued at about $1.5 billion as of February, she said. CMBS managers operate on one-year annual contracts.
Further information can be found on Callan's website.