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
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