New York State Teachers Retirement System (NYSTRS) is looking for commercial mortgage-backed securitisation (CMBS) strategy managers to partner in a separate account relationship.
NYSTRS, which already has a $1.5bn (€1.2bn) CMBS portfolio, said it has issued a request for information for relevant managers.
The deadline for submission of interest is 16 April. Investment consultant Callan expects to make recommendations to the $120.5bn pension fund before the fourth quarter of the year.
The amount being allocated is yet to be set and it is currently unknown if the new appointment will be added to or will be replacing one or more of the existing manager line-up.
The pension fund’s current CMBS portfolio is managed by BlackRock, Prima Capital Advisors and Raith Capital Partners. The managers were each awarded new allocations in August last year.
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