CalSTRS 2018 Calendar Year Results Are in Negative Territory
Strong equity market performance in January 2019 helped partly reverse course.
Tag: CalSTRS
CalSTRS CIO Proposes Rebranding Corporate Governance Unit
Chris Ailman calls for new name that better reflects ESG focus.
CalSTRS Wants to Double Co-Investments
Co-investments only make up around 5% of the CalSTRS private equity portfolio but additional investments may help build up the overall private equity program.
CalSTRS Board Approves $300 Million Campus Expansion
A second office tower is aimed to attract and accommodate new investment staff, part of a strategy to manage more of the plan’s assets in-house.
CalSTRS Funding Report Offers Hope for the Future
While system is on track to full funding by 2046, investment volatility could throw a wrench into the process.
Newsmakers
CalSTRS Investment Committee Was Split on Private Prison Divestment
The vote to divest from CoreCivic and GEO Group was 6-5 during an emotional meeting.
CalSTRS Details $4.7 Billion Private Equity and Real Estate Commitments
A total of 25 managers received 26 commitments in the last half of the 2017-2018 fiscal year.
CalSTRS to Challenge Corporate Auditors and Virtual Meetings
The large California pension plan is taking on corporations who use the same auditor year after year as well as companies that have suspended having in-person annual meetings in favor of virtual meetings.
Asset Allocation
CalSTRS Proposes Direct Private Equity Should First Target Co-investments
The more cautious approach to direct private equity investing at the second-largest US pension plan contrasts with a more aggressive approach by CalPERS, the biggest US plan.
Newsmakers
Institutional Investors Launch Firearms Industry Framework
Coalition with nearly $5 trillion in assets under management aims to engage industry to improve gun safety.
Newsmakers
CalSTRS to Divest of Private Prison Companies
The two US companies running private prisons, whose detainees including immigrants caught crossing the US-Mexico border, will no longer be part of the CalSTRS portfolio.
Corporate Moves
CalSTRS Names New Corporate Governance Chief
Kirsty Jenkinson will join the $229 billion system in January.
CalSTRS Takes First Steps to Restructuring Private Equity
The pension plan is getting ready for investments out of the traditional limited partner-general partner fund structure, including increases in co-investments.
CalSTRS CIO Warns Trump’s China Policies Could Disrupt Market
Tweets and policies could escalate trade dispute into a trade war.
Newsmakers
CalSTRS Begins Review of Holdings of Private Prison Companies
Review ordered personally by CalSTRS CIO Chris Ailman in a rare move.