The New York State Teachers’ Retirement System has approved entering into a contract with PGIM to manage a portion of the pension fund’s fixed income portfolio.
PGIM will manage a broad high-yield fixed income mandate benchmarked to the Bloomberg U.S. High Yield 1% Issuer Capped Index, according to a board meeting summary from the October meeting.
It was also reported that the contracts with Callan, the System’s real estate consultant, and StepStone, private equity and private debt consultant, were renewed for one year effective February 1, 2023.
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