The New York State Teachers Retirement System (NYSTRS) is investing $200m (€180m) in a Prima Capital Advisors debt strategy.

The US pension fund is adding the capital to a separate account relationship, having invested with Prima Capital since 2003.

Prima Capital, which declined to comment, invests in single-asset CMBS in the US, as well as mezzanine loans and/or B-notes.

The pension fund said targeted yields for the new allocation were at least 4%, with Prima Capital having discretion over the new allocation.

NYSTRS’s allocation for the separate account was $350m before the latest allocation.

The pension fund has renewed separate account contracts with three other managers to invest in REITs or real estate operating companies’ securities.

Cohen & Steers Capital Management now has two different separate accounts with the pension fund, having been awarded a total-return mandate in 1995.

As of year-end 2014, the manager has $806.5m of NYSTR capital invested.

An income-orientated account, began in 1998, is worth $320.2m.

Adelante Capital Management has a separate account valued at $499.5m from a relationship started in 1998.

RREEF America’s account with the pension fund started in the same year, with the portfolio now valued at $561m.

Topics

Related Companies