NYSTRS invests $200m in opportunistic real estate debt
The $115.5 billion New York State Teachers’ Retirement System (NYSTRS) has hired Raith Capital Partners for a $200 million opportunistic real estate debt separate account, according to a board meeting report.
Raith Capital Partners is a private investment firm focused on commercial real estate debt and equity investment. The firm has a fund, Raith Real Estate Fund II, currently fundraising.
In addition, NYSTRS renewed its contract with Prima Capital Advisors to actively manage a portion of the System’s portfolio within a separate account structure in commercial mortgage–backed securities, investment-grade REIT bonds, first-mortgage loans, and mezzanine loans and/or B-notes, for one year, effective Nov. 1, 2018.
