CalSTRS Hands Corp. Governance Mandate To Blue Harbour

Nov 7 2011 | 12:51pm ET

The California State Teachers' Retirement System has awarded a $200 million mandate to hedge fund Blue Harbour Group.

Greenwich, Conn.-based Blue Harbour specializes in activist investing, working collaboratively with managements and boards to identify initiatives to create and unlock shareholder value. The mandate comes from the $139.2 billion public pension's corporate governance portfolio.

In addition to hiring Blue Harbour, CalSTRS has laid the groundwork for another alternative investments appointment. The pension plans to issue a request for proposals for a private equity consultant, Pensions & Investments reports. The RFP will be posted on CalSTRS' web site and responses will be due next month.

Pension Consulting Alliance's contract with CalSTRS expires in June; the firm will be permitted to rebid.


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