Nys Teachers' Retirement System
State retirement system, based in New York, reporting $154B in assets, for 455,499 participants.
Composed from this allocator's classification, location and filed figures.
Nothing material in the last 90 days. Last change: 7 Apr 2026, $50M approved across 1 fund on 7 Apr 2026: JFL Credit Opportunities Fund II $50M.
4 more people, 3 more managers, 21 more commitments and 36 more dated events
Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
People to know
View all people- Executive Director & Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionNo route on file yet
- Deputy Managing Director of Public EquitiesWhy: Managing directorNo route on file yet
- Managing Director of Real EstateWhy: Managing directorNo route on file yet
Capital path
who backs this record, through what, into what; each name opens its own path- Thomas K. LeeExecutive Director & Chief Investment Officer
- Binoop UnniDeputy Managing Director of Public Equities
- David C. GillanManaging Director of Real Estate
- JFL Equity Investors VII$200M committed
- KKR Global Infrastructure Investors V$100M committed
- Raith Real Estate IV$75.0M committed
- Manulife Investment Management$400M across 2 commitments
- KKR$200M across 2 commitments
- Blackrock Financial Management, Inc$200M across 1 commitment
Relationship network
36 connected entities24 observed commitments5 repeat counterparties$2.4B disclosed commitments (22 commitments)15 dated commitments shown here, 2025 to 2026
From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.
- Sponsor
- Fund or vehicle
- Service provider
- Person
›How strength and recency are read
Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Size, funding, policy and commitments, with their basesState retirement systemShowHide
Allocation policy
| Asset class (as printed) | Bucket | Target | Range | Actual | Gap | Basis |
|---|---|---|---|---|---|---|
| Cash Equivalents | Cash | 1.0% | 0% to 4% | 1.4% | +0.4 | reported nystrs.org |
| Domestic Fixed Income | Fixed income | 16.0% | 12% to 20% | 14.8% | -1.2 | reported nystrs.org |
| Global Bonds | Fixed income | 2.0% | 0% to 4% | 2.0% | +0.0 | reported nystrs.org |
| High-Yield Bonds | Fixed income | 1.0% | 0% to 3% | 0.9% | -0.1 | reported nystrs.org |
| Private Debt | Private credit | 2.0% | 1% to 5% | 1.9% | -0.1 | reported nystrs.org |
| Real Estate Debt | Private credit | 6.0% | 2% to 10% | 5.9% | -0.1 | reported nystrs.org |
| Private Equity | Private equity | 9.0% | 4% to 14% | 9.8% | +0.8 | reported nystrs.org |
| Domestic Equity | Public equity | 33.0% | 29% to 37% | 32.8% | -0.2 | reported nystrs.org |
| Global Equity | Public equity | 4.0% | 0% to 8% | 4.5% | +0.5 | reported nystrs.org |
| International Equity | Public equity | 15.0% | 11% to 19% | 15.6% | +0.6 | reported nystrs.org |
| Real Estate Equity | Real estate | 11.0% | 6% to 16% | 10.4% | -0.6 | reported nystrs.org |
Consultants and advisers
- Callan LLC General consultantthrough Jan 28, 2026 Board minutes
Decision makers
- Thomas K. Lee · Executive Director & Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
- Binoop Unni · Deputy Managing Director of Public EquitiesWhy this person: Managing director; Named with investment responsibility
- David C. Gillan · Managing Director of Real EstateWhy this person: Managing director; Named with investment responsibility
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
People
- Binoop Unni Deputy Managing Director of Public EquitiesAsset-class head
- David C. Gillan Managing Director of Real EstateAsset-class head
+4 more people on the investment staff and board
Every name, title and published role at this allocator, with the page it was read from.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Manager roster
- Manulife Investment Management$400M, 2 rows, 2 re-ups, latest Feb 24, 2026
- KKR$200M, 2 rows, latest Feb 4, 2026
- Blackrock Financial Management, Inc$200M, 1 row, latest Jan 28, 2026
+3 more managers received commitments
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What changed
- Apr 7, 2026Re-upNys Teachers' Retirement System re-ups with J.F. Lehman and Company LLC: $50M to JFL Credit Opp Fund II (the minutes' own words)with Nys Teachers' Retirement Systemnystrs.org
- Apr 7, 2026Commitment closedNys Teachers' Retirement System commits $50M to JFL Credit Opp Fund II, closed 2026-04-07
- Mar 31, 2026Commitment closedNys Teachers' Retirement System commits $150M to Cabot Industrial Value Fund VIII, closed 2026-03-31
- Mar 31, 2026Commitment closedNys Teachers' Retirement System commits an undisclosed amount to Aermont Capital RE Fund VI, closed 2026-03-31
- Mar 19, 2026Commitment closedNys Teachers' Retirement System commits $200M to JFL Equity Inv VII, closed 2026-03-19
+36 more dated events
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Commitments
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| Apr 7, 2026 | JFL Credit Opp Fund II | J.F. Lehman and Company LLC | Private credit | $50.0M | Committed (dated)re-up | nystrs.org | |
| Mar 31, 2026 | Cabot Industrial Value Fund VIII | Cabot | Real estate | $150M | Committed (dated)re-up | nystrs.org | |
| Mar 31, 2026 | Aermont Capital RE Fund VI | Aermont Capital | Real estate | n/a | Committed (dated)re-up | nystrs.org |
+21 more commitments
Every fund and manager this allocator committed to, with the amount, date and source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Size and funding
Commitment history
How the history is foldedOne line per vehicle, folded across the board’s own minutes and the plan’s later reports: when the item was proposed or recommended, when the board approved it, when the closing was dated, and when the position first showed up in a report. A line is closed only when a closing date exists; held means the plan reports the position without one on this graph.| Vehicle | Manager | Amount | State | Proposed | Approved | Closed | First reported | Other LPs |
|---|---|---|---|---|---|---|---|---|
| SL Green Opportunity Debt Fund | n/a | $125M | closed | - | Jan 28, 2026 | Nov 18, 2025 | - | - |
| Abacus Multifamily Partners VII | n/a | $200M | closed | - | Jan 28, 2026 | Nov 5, 2025 | - | - |
| BlackRock Financial Management, Inc. separate account | Blackrock Financial Management, Inc | $200M | approved | - | Jan 28, 2026 | - | - | - |
+19 more board decisions
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Provenance
Provenance
Not yet on record: funded ratio.
Nys Teachers' Retirement System sits on 13 traced paths of capital across the graphs.
DFX traced 13 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Commitment made2026-04-07source on record
- Commitment made2026-03-31source on record
- Commitment made2026-03-31source on record
+32 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
›Connections
every published relationship on the graph
+5 connections on the graph
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.