California State Teachers' Retirement System related stories
All articles and analysis
LPs zeroing in on diversity during due diligenceA vast majority of investors are inquiring about diversity at private equity firms, while some of the largest LPs have started using specific disclosure forms.
- Reassuringly expensive
Half a billion dollars of carry may seem like a lot for a public pension to pay external managers, but while CalPERS’ direct investment portfolio has performed well since inception, returns data available for the past 10 years suggest it would be better off sticking with GPs.
- Was CalSTRS' $851m in 2015 PE costs worth it?
The $851m includes $516m in private equity carried interest, which represented 83% of all carried interest awarded to its external fund managers across asset classes in 2015.
- CalSTRS spends $75m on RE carried interest
The pension system, which managed $25.8bn in real estate as of December 31, disclosed its carried interest and expense for the first time this week.
- Arsenal closes $1.3bn fourth fund
Arsenal Capital Partners raised the fund in a little over a year as a successor to its Fund III, which is currently booking a strong internal rate of return.
- CalSTRS PE portfolio takes a hit over past year
The $193.4bn pension fund’s private equity portfolio returns have dropped from nearly 20% two years ago to 2.9% for its most recent fiscal year.
- Goldman Sachs buys minority stake in Littlejohn
Goldman’s Petershill Fund II purchased less than 10% in Littlejohn, the first investment out of that fund.
- The 10 largest fund closes in Q2 (and the LPs in them)
Some of the top-performing US LPs made commitments to multiple funds in the top 10, which together account for more than half of the $106bn amassed in Q2.
- PSP backs BC Partners’ Allflex
The Canadian pension fund has acquired a minority stake in the animal tag-maker from BC Partners, which is currently raising Fund X.
- California bill on fee disclosure clears early hurdles
A bill that would require GPs to provide detailed fee information to state pensions has passed the first stage of state scrutiny.