August 27, 2014 9:18 AM ET

Capital Markets

Company Overview of New York State Teachers' Retirement System

Company Overview

New York State Teachers' Retirement System is a privately owned investment manager. The firm provides its services to eligible New York state public school teachers and administrators. It manages funds. The firm invests in the public debt markets of the United States and equity markets of the United States and other international economies. It invests in small-cap and large-cap companies selected on the basis of quantitative analysis to create the equity portion of its fund portfolios. The firm invests in high-quality securities, government-guaranteed bonds, mortgages, and investment-grade corporate bonds to create the debt portion of its fund portfolios. It also invests in real estates and ...

10 Corporate Woods Drive

Albany, NY 12211-2395

United States

Founded in 1921

Phone:

518-447-2900

Fax:

518-447-4751

Key Executives for New York State Teachers' Retirement System

Private Equity Investment Officer
Managing Director of Real Estate
Managing Director of Private Equity
Co-manager and Manager of Domestic Private Equity
Chief Investment Officer and Executive Director
Compensation as of Fiscal Year 2014.

New York State Teachers' Retirement System Key Developments

New York State Teachers Retirement System to Exit IN Retail Fund Joint Venture with Inland Real Estate Corporation

The New York State Teachers Retirement System (NYSTRS) has signed an agreement to exit the IN Retail Fund joint venture with Inland Real Estate Corporation. The pension fund is planning to offload its 50% interest in the JV for $121 million (EUR 93.5 million) some time this summer. The value of the total assets in the IN Retail Fund is pegged at $395 million. This includes total current outstanding mortgage debt of approximately $152.2 million. The cap rate on the sale of the NYSTRS interest is projected to be 6.7%. This return is based on a forecasted net operating income for the 12 months following the acquisition of the portfolio. NYSTRS and Inland Real Estate first formed the JV in 2004. In total, NYSTRS invested $116 million of equity, while Inland contributed eight properties and around $48 million of equity. Portfolio leverage on the assets is approximately 50%. Most of the assets in the IN Retail Fund are located in the Chicago area. The JV with NYSTRS and other financial partners has been a big factor in the growth of Inland.

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