New York State Teachers Retirement System (NYSTRS) plans commitments of net pacing of $1.2 billion to real estate equity in 2025. This is a $200 million increase from previous years’ pacing models. This information was confirmed by NYSTRS’s Oct. 30 meeting materials.
StepStone, NYSTRS’s consultant, said this increase in commitment pacing will ensure NYSTRS allocations are within policy range and near target. Additionally, StepStone recommends new commitments between $800 million and $1.1 billion annually for five years to maintain NYSTRS’s real estate equity goals.
StepStone suggested NYSTRS maintain an investment portfolio of 65 percent core and 35 percent noncore allocations, with a cap of 45 percent. NYSTRS was also advised to consider new research-focused potential acquisitions such as data centers and industrial outdoors storage. NYSTRS also will continue exploring infrastructure opportunities in addition to its current real estate portfolio.
NYSTRS
