NYSTRS Commits $384M in Re-Ups; Invesco Posts Record $45B Inflows

NYSTRS Commits $384M in Re-Ups

Invesco Posts Record $45B Inflows

New York State Teachers' Retirement System (NYSTRS) committed $384M combined to three existing manager relationships in the second quarter, all re-up commitments: $150M to Turning Rock Partners Fund IV, £100M to Phoenix Equity Partners' Insight Fund III, and $100M to Valor Equity Partners VII. The pension also renewed one-year mandates across a slate of external managers spanning fixed income, equities and REITs, including a renewed real estate debt mandate with Blue Owl Real Estate Debt Advisors.

In other allocator activity, the San Antonio Fire & Police Pension Fund is moving to hire Dimensional Fund Advisors and Vaughan Nelson for its domestic small cap value mandate, splitting the allocation 60/40 between the two managers. Elsewhere, Plymouth County Retirement Association set its 2026 private markets pacing at approximately $60M to private equity, $25M to real estate, $20M to private credit, and $10M to real assets, with Meketa set to launch private equity and real estate manager searches in late July.

On the GP fundraising side, Invesco reported record net long-term inflows of $45.1B in the second quarter, driven by retail demand – its 12th consecutive quarter of positive flows – pushing firm-wide AUM to a record $2.5T.

In people news, Jim Arnold was promoted to director at the UCSF Foundation Investment Company after six years in the endowment's investment office; AustralianSuper confirmed Andrew Smith and Luke Smith as permanent co-heads of Australian equities, having jointly led the team on an interim basis since Shaun Manuell's promotion to CIO; and Louis Zahorak, CalPERS' longtime head of credit investment, retired after 21 years with no successor named.