NYSTRS extends contract with Adelante as REIT manager for another 12 months. :
New York State Teachers Retirement System (NYSTRS) has approved commitments worth $210m (€188.1m) for three new non-core real estate funds and has extended a management contract with Adelante Capital Management. At its board meeting, the pension fund said it approved $50m each into Rockpoint Growth & Income Fund III and Rockpoint Real Estate Fund VI and $110m into Westbrook Real Estate Fund XI. As previously reported, Rockpoint Group is planning a $3.25bn capital raise for its sixth opportunistic real estate fund, which will follow on from its $3.28bn predecessor.