NYSTRS Commits $320M to PE, PC, Renews 12 Manager Contracts

The New York State Teachers’ Retirement System (NYSTRS) allocated a total of $320M to two funds in private equity and private credit, while renewing its contracts with 12 investment managers for one more year.

Per materials from its January 29 board meeting, the pension made a $120M commitment to Turning Rock Fund III and $200M to Monomoy Credit Opportunities Fund III, closed on October 10 and December 10, 2024, respectively. NYSTRS previously allocated $150M to Monomoy’s fifth flagship middle-market buyout fund last year, per Dakota data, while Turning Rock represents a new relationship with the pension.

Additionally, NYSTRS approved the renewal of contracts with REIT investors AEW Capital Management, Cohen & Steers Capital Management, and Principal Real Estate Investors; international equities managers Ariel Investments, Arrowstreet, RhumbLine Advisors LP, and Xponance (formerly FIS Group); Bank of New York Mellon and BlackRock Financial Management in securities lending; high yield managers JP Morgan Investment Management and PGIM; and Raith Capital Partners in real estate. The contracts are valid for another one-year term, with effective dates ranging from February to April. 

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Written By: Dakota

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