California State Teachers' Retirement System related stories
All articles and analysis
Mega-firms embrace socially responsible investingSome of the world’s biggest private equity firms – including KKR, Blackstone, Carlyle, Permira, Providence, Apax and Apollo – have committed to consider environmental, social and corporate governance issues when making investments.
- TPG halts stake sale talks with LPs
Valuation difficulties have prompted the Texas-based mega-firm to cease talks that began more than a year ago with the Kuwait Investment Authority and two California pensions over the potential sale of a single digit stake in its management company.
- CalPERS mulls increasing alternatives allocation
The $182bn Sacramento, California-based pension, struggling with the denominator effect, will vote next week on whether to raise the upper limit of its target allocation to real estate and private equity. The pension's real estate portfolio is currently 1.6% overweighted.
- CalSTRS may expand allocation range for alternatives
The $147bn US pension will decide today whether it will respond to the denominator effect by increasing the amount it is allowed to invest in real estate to 17% of total assets.
- CalSTRS increases alternatives allocation
The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.
- Abraaj nears $4bn fund close
Existing LPs have committed $3bn toward the latest buyout fund from the MENASA-focused firm, which has just purchased a controlling stake in the Karachi Electric Supply Company for an estimated price of $400m.
- CalPERS commits $600m to Carlyle funds
Confronting an increasingly overweighted private equity portfolio, CalPERS has made $920m in commitments to four private equity funds. Last week, fellow pension giant CalSTRS addressed the denominator effect while disclosing more than $1bn in fresh commitments.
- Madison Dearborn’s Hines files Chapter 11
The Southern California plant nursery operator, partly owned by CalSTRS, has selected turnaround specialist Black Diamond as its stalking horse bidder. Hines has also secured $62 million in debtor in possession financing from its lenders, which include Cerberus-owned GMAC Commercial Finance.
- Ailman: Debt funds pose LP dilemma
Institutional investors are ramping up their commitments to distressed debt funds, but which asset class they fit into becomes complex when those commitments end up in credit vehicles raised by traditional buyout firms, according to CalSTRS CIO Chris Ailman.
- CalSTRS reports loss despite 11.6 percent gain from PE
The second largest US pension suffered a 3.7 percent decline in its overall investment portfolio, its first negative return in six years.