NYSTRS reallocates $375m of commitments from REIT accounts
Investors - MAY 2, 2023

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NYSTRS reallocates $375m of commitments from REIT accounts

by Kali Persall

The New York State Teachers’ Retirement System (NYSTRS) has reallocated a total of $375 million out of externally managed REIT accounts, according to an April 26 board meeting document.

The reallocations include $180 million from Cohen & Steers, $82.5 million from AEW Capital Management, $75 million from Adelante Capital Management and $37.5 million from Brookfield accounts.

In other news, the system’s executive director and CIO were authorized to renew agreements with several firms to manage a portion of the system’s portfolio, to be actively invested in the securities of REITs and REOCs for one year. The list of firms includes Adelante, AEW, Cohen & Steers Capital Management and Principal Real Estate Investors.

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