US - The New York State Teachers Retirement System (NYSTRS) has committed a total of $450m to five private equity funds.
The $89bn fund will invest up to $200m in the Lexington Capital Partners V fund, and $100m in the Blackstone Capital Partners IV fund. Both awards are subject to the satisfactory completion of legal due diligence by NYSTRS. The fund also will invest $50m in the A.G. Realty Fund V fund as a limited partner.
Additionally, Carbon Capital and Legg Mason Real Estate Capital both receive $50m mandates each, as part of NYSTRS’ mezzanine debt investment program.
NYSTRS has also increased the funding of two of its commercial mortgage-backed securities managers. Both Blackrock Financial Management and Clarion Capital will receive an additional $100m.
The fund has also extended its contract with consultant Callan Associates. The one-year extension will be effective from February 1, 2002. Callan’s brief is to monitor the performance of the NYSTRS’ external asset managers.
By Geoffrey Ho
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.
Supermarket giant Asda's plans to reform its pensions have been decried as "unfair, unreasonable and unnecessary" as the workers' union began talks with the employer.
The Pensions Administration Standards Association (PASA) has launched a checklist to help trustees with the rectification process for guaranteed minimum pensions (GMP).