NYSTRS commingled debt portfolio brings in 3.7%

NYSTRS also disclosed $75m in commitments to commingled debt strategies during Q2.

The New York State Teachers’ Retirement System’s (NYSTRS) portfolio of comingled real estate debt funds has returned 3.7 percent for the quarter ending 30 June, according to portfolio data released by the retirement system.

The portfolio, which carries a net asset value of approximately $303.9 million, generated 13.1 percent for the year and a negative 6.3 percent return since its inception. The portfolio’s top performers for the year include Torchlight Debt Opportunity Fund II, which has generated a one year return of 29.2 percent, and PCCP Mezzanine Partners Recovery II, which has generated 43.6 percent.

The portfolio’s top performing fund since inception is Cornerstone Enhanced Mortgage Fund I, a 2011 vintage that has generated an annualised return of 20 percent.

In a section of its investment report entitled portfolio activity, NYSTRS disclosed $75 million in commitments to commingled real estate debt strategies for the quarter ending 30 June. The $88.1 billion retirement system also disclosed $9.5 million in capital calls and $15.6 million in distributions.

A NYSTRS spokesperson had not responded to a request for comment at press time.

In addition to its commingled portfolio, NYSTRS also has $3.6 billion in direct mortgage portfolio investments and $1.1 billion in CMBS investments. Those investments have returned 9.3 percent and 5.7 percent since inception, respectively.