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NYSTRS confirms $150m commitment

The US public pension has backed Cabot Properties' sixth series value-add logistics fund.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, United States
AUM: $120.48bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

New York State Teachers’ Retirement System approved a $150 million commitment to Cabot Industrial Value Fund VI in Q4 2019, according to the pension’s January 2020 Board meeting materials. NYSTRS had previously committed to funds II through V in this logistics-focused series, with those commitments totalling $300 million.

The $120.48 billion US public pension has an 18.0 percent combined target allocation to real estate equity and debt, which currently stands at 16.60 percent. Real estate equity comprises of 10.70 percent of the pension’s current allocation, with real estate debt making up 5.90 percent.

As illustrated below, NYSTRS has made seven commitments to real estate vehicles with a 2018 or 2019 vintage, which combined constitute at least $920 million.

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