New York State Teachers Retirement System (NYSTRS) has committed $150m (€131.5m) from its real estate portfolio to a digital infrastructure strategy managed by DigitalBridge Partners.
The pension fund said it has placed a $100m commitment to DigitalBridge Partners III and invested $50m into a sidecar co-investment fund created to invest alongside the main fund.
An SEC filing in April shows that DigitalBridge Partners had raised $6.3bn for the fund that targets digital infrastructure assets like data centres, fibre, macro cell towers, edge infrastructure and small cell towers globally.
NYSTRS continued with its portfolio rebalancing plan by reallocating $434.2m in cash from externally managed domestic and global real estate investment trust (REIT) portfolios, impacting managers like AEW, Heitman, Cohen & Steers and Principal.
The $145bn pension fund said it also withdrew $300m in capital from a commercial mortgage-backed securities (CMBS) separate account managed by BlackRock. NYSTRS closed on two first mortgages on stabilised multifamily assets in Tempe, Arizona, by providing a $55m loan for the Smith & Rio complex and $56.4m in financing for the Emerson Mill project.
The pension fund also awarded new contracts to Adelante Capital Management, Dimensional Fund Advisors, and Heitman for its REIT relationships. For its CMBS/private real estate debt mandates, new contracts were awarded to Blue Owl Real and Prima Capital Advisors.
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