The New York State Teachers Retirement System (NYSTRS) has awarded a $644 million mandate to three money managers, Pensions & Investments reports. The pension fund has allocated $250 million each to AQR Capital Management and Marathon London to manage international equity for a year, with funding generated from internally managed domestic equities.
Oaktree European Principal Fund III has been provided $144 million for distressed European equity and debt. The move will help the $89 billion Albany-based system in realizing its international equity target, which has been hiked from 15% to 18%.
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