The governing board of the New York State Teachers' Retirement System, Albany, has approved a series of investment manager renewals.
The renewals were approved at the board's quarterly meeting on Oct. 26. Each renewal is for one year; the renewals didn't require RFPs.
The renewals are:
- State Street Global Advisors Trust to passively manage $5.6 billion in international equities benchmarked to the MSCI ACWI Ex-U.S. index, effective Feb. 18, 2024.
- BlackRock to passively manage $5.4 billion in international equities benchmarked to the MSCI ACWI Ex-U.S. index, effective Dec. 12, 2023.
- Harding Loevner Management to actively manage $1.3 billion in global equities benchmarked to the MSCI ACWI index, effective Feb. 27, 2024.
- Loomis Sayles to actively manage $1.1 billion in global bonds benchmarked to the Bloomberg Global Aggregate Float Adjusted Ex-CNY Bond index (hedged to the U.S. dollar), effective Nov. 8, 2023.
- AQR Capital Management to actively manage $1 billion in international equities benchmarked to the MSCI ACWI Ex-U.S. index, effective Jan. 6, 2024.
- Goldman Sachs Asset Management to actively manage $647.6 million in global bonds benchmarked to the Bloomberg Global Aggregate Float Adjusted Ex-CNY Bond index (hedged to the U.S. dollar), effective Nov. 12, 2023.
- Nomura Corporate Research and Asset Management to manage $526.8 million as an active U.S. high-yield manager in two separate accounts, effective Nov. 27, 2023. The accounts are a portfolio benchmarked to the ICE BofAML BB-B U.S. High Yield Constrained Index (HUC4) and a portfolio benchmarked to the ICE BofAML U.S. High Yield Constrained Index (HUC0).
- Marathon Asset Management to actively manage $500.6 million in international equities benchmarked to the MSCI EAFE index, effective Jan. 24, 2024.
- Dimensional Fund Advisors to actively manage $207.8 million in emerging markets equity benchmarked to the MSCI Emerging Markets index, effective Feb. 19, 2024.
