To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionNYSTRS commits $125 million to real estate
The $88.1 billion New York Teachers' Retirement System (NYSTRS) has invested $125 million in two separate commitments.
NYSTRS made a follow-on commitment of $50 million to the third fund in Cerberus Real Estate Capital Management's Cerberus Institutional Real Estate Partnersfund series. Cerberus Institutional Real Estate Partners III, a value-added fund, aims to raise $1 billion in capital to target investments in distressed mortgage-backed securities in the United States and Europe. NYSTRS has invested approximately $100 million in two other Cerberus real estate funds, Cerberus Institutional Real Estate Partners and Cerberus Institutional Real Estate Partners II.
In addition, NYSTRS invested $75 million in preferred REITs managed through Cohen & Steers Capital Manageme