California State Teachers’ Retirement System (CalSTRS)
Taking PE in-house: Less limited partners
Institutional investors continue to pursue more active roles in private equity, even as a souring macro backdrop makes the game harder to play. Talent is always the key variable
GP selection: Discriminating customers
Sizeable LPs are hardening their criteria for fund commitments in reaction to a tougher investing environment. But going with fewer, deeper relationships is an uphill climb
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
LP interview: CalSTRS
Keen to reduce investment costs, California State Teachers’ Retirement System is changing the way it works with managers. Co-investment, joint ventures and stakes in GPs are priorities for private markets
Q&A: CalSTRS' Chris Ailman
Chris Ailman, CIO of California State Teachers’ Retirement System (CalSTRS), discusses why – and how – private equity managers should be placing greater emphasis on diversity
LP interview: CalSTRS
Christopher Ailman, CIO of California State Teachers’ Retirement System (CalSTRS) discusses fund sizes, the attractions and limitations of Asia, the problems of listed PE, and the need for fee reform
ESG: Quantifiable benefits
Finding ways to implement environment, social and governance (ESG) policies and track performance with greater consistency has become a priority for some – but by no means all – Asian GPs
LPs demand integrated approach to ESG – AVCJ Forum
Private equity investors are focusing on policy implementation, team culture and transparency as environmental, social and governance (ESG) practices become an increasingly pervasive aspect of GP-LP negotiations.
ESG: Digging deeper
Comprehensive adoption of responsible investment protocols in private equity is being driven by a handful of players within the global LP community. They must continue to establish industry best practice
LPs want GPs to show comprehensive approach to ESG - AVCJ Forum
Private equity firms need to incorporate environmental, social and governance (ESG) considerations into their investment strategies – and do so in a long term, end-to-end manner, LPs told the AVCJ ESG Forum.
Q&A: CalSTRS' Christopher Ailman
Christopher Ailman, CIO of the California State Teachers’ Retirement System (CalSTRS), explains how his organization’s approach to ESG has evolved and what this means for portfolio managers
Public, private equities drive strong returns for California pension funds
America’s two largest public pension funds each reported annual returns in excess of 18% largely driven by soaring domestic and international public equities, although private equity was the second-best performing asset class. `
CalSTRS alters allocation to favor inflation sensitive, illiquid assets
The California State Teachers’ Retirement System (CalSTRS) will recalibrate the long-term allocation targets of its $170 billion investment portfolio, placing greater emphasis on inflation-sensitive and illiquid assets at the expense of equities and...
CalSTRS commits to FountainVest, Bain Asia funds
The California State Teachers’ Retirement System (CalSTRS) committed $120 million to Asia-focused GPs during the final three quarters of 2012, according to a recent disclosure. The pension system also revealed that its private equity portfolio delivered...
CalSTRS considers separate accounts strategy
California State Teachers’ Retirement System (CalSTRS) is considering making separate account commitments to private equity firms. A similar strategy has already been employed by other pension funds like Texas Teachers’ Retirement System and New Jersey...
CalSTRS commits $500m to IFM’s infrastructure fund
California State Teachers’ Retirement System (CalSTRS) has committed $500 million to Australia-based fund-of-funds Industry Funds Management (IFM). The capital will be placed in the firm’s Global Infrastructure Fund, which principally targets assets...
CalPERS to appoint CFO, place limits on staff departures
The California Public Employee Retirement System will introduce a CFO position and toughen the timelines for when board members and staff can move to certain other jobs. The provisions, aimed at improving accountability, are included in new legislation...
Asia Pacific SWFs, public pension funds hold 25% of global AUM
Asia Pacific sovereign wealth funds and public sector pension funds now account for $3.2 trillion in assets under management, 25% of the global total.
CalPERS, CalSTRS announce annual gains in excess of 20%
US pension fund CalPERS announced a 20.7% return for the year ending June 30, a 14-year high, while sister fund CalSTRS reported its best performance in 25 years with growth of 23.1%.