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Home 2. PENSION FUNDS January 25, 2024 02:05 PM 2 hours ago NEW YORK STATE TEACHERS RENEWS 12 MANAGERS FOR $9 BILLION Robert Steyer * Tweet * Share * Share * Email * * More Getty Images/iStockphoto View Key Data: * Ariel Investments * Arrowstreet Capital * Bank of New York Mellon * BlackRock * Columbia Management Investment Advisers * New York State Teachers' Retirement System * Principal Real Estate Investors New York State Teachers' Retirement System, Albany, has renewed a series of investment managers, each for one year for a combined commitment of approximately $9 billion and each approved Jan. 25 by the $139.6 billion pension system's governing board. The board also approved a one-year renewal for Callan as the general investment consultant, effective May 1, and a one-year renewal for the Bank of New York Mellon as an agency securities lender for public securities assets, effective March 17. The investment manager renewals are: * Arrowstreet Capital, for $2.81 billion, as an international equity manager benchmarked to the MSCI ACWI ex-U.S. index and a global equity manager benchmarked to the MSCI ACWI index, effective March 26. * BlackRock, for $1.52 billion, as a manager of commercial mortgage backed securities, effective April 3. * Cohen & Steers Capital Management, for $1.35 billion, as an active manager of real estate investment trusts and real estate operating companies, effective Feb.2. * RhumbLine Advisors, for $1.02 billion, as a passive international equity manager, benchmarked to the MSCI ACWI ex-U.S. Index, effective March 30. * Principal Real Estate Investors, for $465.2 million, as an active manager of real estate investment trusts and real estate operating companies, effective Feb. 11. * Columbia Management Investment Advisers, for $384.6 million, as an active U.S. high yield manager benchmarked to the ICE BofAML BB-B U.S. High Yield Constrained Index (HUC4) effective March 6. * J.P. Morgan Investment Management, for $371.5 million, as an active U.S. high yield manager benchmarked to the ICE BofAML BB-B U.S. High Yield Constrained Index (HUC4) effective March 5. * Xponance, for $350.5 million, as a manager of international equity, benchmarked to the ACWI ex-U.S. Index, effective April 25. * Ariel Investments, for $333.4 million as an MSCI ACWI ex-U.S. international equity manager, effective April 10. * PGIM, for $162.4 million, as an active U.S. high yield manager benchmarked to the Bloomberg U.S. High Yield 1% Issuer Capped Index, effective Feb. 21. * Raith Capital Partners, for $155.4 million, as a debt separate account adviser to advise on the "acquisition, management and exit of public and private opportunistic commercial real estate debt opportunities," effective Feb. 7. * AEW Capital Management, for $90.5 million, as an active manager of real estate investment trusts and real estate operating companies, effective April 15. 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