New York State Teachers Retirement System (NYSTRS) has approved $475m (€376.6m) in new real estate fund commitments across three investments.
The pension fund has committed $200m to Abacus Multifamily Partners VII, $150m to Starwood Distressed Opportunity Fund XIII and $125m to the SL Green Opportunity Debt Fund.
An SEC filing from August last year indicates that Abacus is targeting $2bn for its North American apartment fund. Starwood Capital expects its $10bn vehicle to reach a final close in the first quarter of 2026.
The Starwood fund will deploy capital across the US and Europe, targeting a diversified mix of housing, data centres, hotels, life sciences and traditional office assets.
The real estate debt commitment marks NYSTRS’ first partnership with SL Green Realty, coming as the manager finalised a $1.3bn capital raise for its US opportunistic debt fund in December 2025.
The fund is expected to capitalise on the gap between New York City’s strengthening office leasing fundamentals and the nascent recovery of the debt capital markets by focusing on originating new loans and acquiring existing debt, loan portfolio and controlling commercial mortgage-backed securities.
NYSTRS said it has also written two new first mortgage loans on stabilised multifamily assets totaling $101.8m.
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