Pension fund allocates additional $300m to GCM Grosvenor and Cabot Properties. :
New York State Teachers Retirement System (NYSTRS) has hired Raith Capital Partners for a $200m (€173m) real estate debt separate account, according to a board meeting report. NYSTRS told IPE Real Assets: “It’s an opportunity for the retirement system to make investments at attractive risk-adjusted returns. The separate account will target an 8% net return by investing in investment-grade and non-investment-grade commercial mortgage-backed securities (CMBS), b-notes, senior mezzanine loans and preferred equity.