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
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.