Wednesday, 6 May 2015
Last updated 19 hours ago
Jul 20 2007 | 10:47am ET
The $170 billion California State Teachers Retirement System has changed the rules governing its alternative investments portfolio to allow for direct investments—which are those made outside of a limited partnership—in private equity funds. Previously, only co-investments in were allowed.
The new rules also scrape geographic limitations for co-investments, which previously were limited to the United States, Canada, the United Kingdom, and Continental Europe. However, nothing was included in the rules allowing for hedge fund investments.
“We continue to not have a hedge fund program, and it is not anticipated that we will make any changes along that route,” said spokeswoman Sherry Reser. She added that there are no timelines to implement any changes, but that the revised rules give the investment staff the authority to make changes where they see fit over the long-term.
CalSTRS’ private equity portfolio represents 6% of the pension fund’s assets, or $11 billion.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…