New York State Teachers Retirement System (NYSTRS) has renewed $3.6bn (€3.3bn) worth of real estate separate account contracts with five managers, according to the pension fund’s meeting document.
NYSTRS has renewed its $1.5bn commercial mortgage-backed securities contract with BlackRock Financial Management and extended a $1.3bn real estate investment trust (REITs) and real estate operating companies (REOCs) account Cohen & Steers Capital Management by a year.
Principal Real Estate Investors, which also manages a $465m REITs and REOCs has also had its contract extended. This portfolio is valued at $465m.
Raith Capital Partners, which runs a $155.4m portfolio for NYSTRS has also been awarded a new contract. The Raith Capital separate account is involved in the acquisition, management and exit of public and private real estate debt.
The $137bn pension fund has also been awarded AEW Capital Management a one-year contract to manage a $90.5m account that targets public REITs or REOCs.
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