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New York Teachers hires AAAIM member Leading Edge Investment Advisors

November 1, 2010 – The $80.6 billion New York State Teachers Retirement System hired emerging manager-of-managers Leading Edge Investment Advisors to manage a $250 million all-cap mandate at a board meeting this week, Spokesman John Cardillo said.

Cardillo said LEIA will complement current emerging manager-of-manager Progress Investment Management Company, which had its mandate switched to an all-cap structure from small-cap in July (fin|daily, 8/2).

Clayton Jue, president and ceo of LEIA, did not return a call seeking comment.

The plan also made private equity commitments of $125 million to a co-investment fund with HarbourVest Partners and $100 million to the firm’s HIPEP Select Asia Fund.

Separately, the plan removed domestic large-cap value equity manager Iridian Asset Management from its watchlist. Iridian was first placed on watch in July 2009 (fin|daily, 7/31/09).

Lastly, the plan made one-year contract renewals with general investment consultant Hewitt EnnisKnupp, private equity consultant StepStone Group and real estate consultant Callan Associates.