The New York State Common Retirement Fund (NYSCRF) has removed four managers, which ran a combined $5.43 billion from its external domestic and international equity lineup, Pension & Investments reports. The system has not renewed the contracts of Jacobs Levy, AllianceBernstein, BlackRock and Chicago Equity Partners.
The system has also decreased its international equity allocation to Capital Guardian to $1.6 billion from $3.3 billion and has committed an additional $150 million in domestic equity to Piedmont Investment Advisors. It has also invested $100 million in private equity fund Snow Phipps II and $123 million in Shurgard Europe.
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