Brookfield forms real estate secondaries SMA with NYSTRS

The US public pension backed Brookfield's latest investment strategy offering in the first quarter of the year.

Institution: New York State Teachers’ Retirement System
Headquarters: Albany, US
AUM: $118.76 billion
Allocation to alternatives: 24.6%

New York State Teachers’ Retirement System approved the formation of a real estate secondaries-focused separate account managed by Brookfield Asset Management in Q1 2021, a contact at the pension informed Secondaries Investor.

The $600 billion Canadian asset manager hired executives to work on the launch of its real estate secondaries business last year.

As illustrated below, NYSTRS previously made a $150 million commitment to Landmark Partners’ real estate secondaries-focused Fund VIII in 2017.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy, and fund investments.