The California State Teachers’ Retirement System (CalSTRS) is exploring a collaborative investment programme in tandem with other US and international public pensions, according to investment committee discussions at Wednesday’s meeting.
At the board meeting, CalSTRS CIO Christopher Ailman revealed that the $222.5 billion US public pension had met with other undisclosed pension funds and private investors to propose collaborating on investments within the private equity, real estate, and infrastructure asset classes.
The collaborative model, developed by Ashby Monk at Stanford’s Global Projects Center, is designed to empower CalSTRS to pursue additional direct investment and co-investment opportunities while avoiding the additional layer of fees from an externally-managed strategy.
CalSTRS has a 21.8 percent current allocation to alternative investments. Platinum subscribers Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.