CalSTRS Selects Alt. Consultant

Jun 20 2007 | 10:39am ET

The $162 billion California State Teachers’ Retirement System has selected Pension Consulting Alliance over Ennis Knupp as its alternative investment consultant.

During its May 3 investment committee meeting, the system’s staff was split 4-4 on their respective choices. The staff noted “the depth of the opportunistic strategies and the research tools of Ennis Knupp were a very positive factor but their lack of knowledge and understanding of the existing portfolio was a significant negative factor, while PCA has vast knowledge of the fund,” according to the meeting’s minutes.

Christopher Ailman, CalSTRS’ CIO, favored PCA stating that he and the investment staff “were comfortable with having both PCA as the general consultant and the private equity consultant, while noting that there will be a perception in the pension industry that PCA serves both of the large California public pension funds.”

Details about the contract’s fees and duration are still being ironed out, according to the system. CalSTRS’ current contract for incumbent alternative consultant McKinsey and Company, which did not rebid, expires on June 30, 2007.

 


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.