California State Teachers' Retirement System related stories
All articles and analysis
GI raises $2bn for Fund III, nears full realisation for Fund IThe firm has invested 20% of Fund III's committed capital. It has also realised the real estate portion of its debut fund.
- Inconsistent indifference
It’s a shame CalPERS may refuse to take a negative stance on the SEC’s proposed placement agent ban, writes Christopher Witkowsky.
- CalSTRS loses $6.8bn in past year on real estate bets
The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
- CalPERS, CalSTRS unveil heavy losses in alternatives
The two powerful California pensions have announced huge write-downs in private equity and real estate over the fiscal year ending in March. Both pensions have implemented measures to counter the losses, including moving allocations and negotiating for lower fees.
- ASSET CLASS
The denominator effect is impacting limited partner portfolios and slowing the private equity fundraising market. Matt Levin asks whether it will result in changes to the LP-GP relationship.
- CalPERS drafts disclosure policy for placement agents
The largest pension in the US has charged its staff with creating a disclosure policy for placement agents and their fees after it was revealed that CalPERS has ties to a kick-back scandal involving the New York State Common Retirement Fund.
- More than 90% of LPs call for GPs to assess ESG risk
CalPERS, USS and CalSTRS are among the LPs calling for GPs to provide material consideration of environmental, social and corporate governance risks to their portfolios, according to a survey conducted by the UN’s Private Equity Principles for Responsible Investment.
- USS to replace chief investment officer
Peter Moon will retire next year from the UK’s University Superannuation Scheme, an influential limited partner in private equity, infrastructure and real estate funds.
- CalSTRS private equity chief retires
Réal Desrochers has ended his 11-year reign as the director of alternative investments at the US' second largest public pension, leaving veteran portfolio managers Margot Wirth and Seth Hall as interim co-directors. Desrochers did not disclose future professional plans in a farewell email sent to friends and colleagues.
- CalSTRS to buy assets from distressed sellers
The California pension is set to create a $6bn securities portfolio targeting distressed sellers that will cut across all asset classes. To make room for the portfolio, the pension is shifting its asset class allocations, including increasing allocations to private equity and real estate.