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 1. 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
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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.

RELATED ARTICLES

Wall Street raked in $1.7 billion in fees from NYC pension funds last year
New York State Teachers OKs renewals of investment managers

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