CalSTRS Issue RFP For Private Equity Fiduciaries

Dec 31 2007 | 10:29am ET

The California State Teachers’ Retirement System yesterday launched a search for independent fiduciaries to screen partnerships, make recommendations and help investment staff manage the CalSTRS private equity portfolio.
 
Up to five firms will be selected to serve as independent fiduciaries for the CalSTRS Private Equity Proactive Portfolio.

Independent fiduciaries will be expected to conduct in-depth analysis, background checks and due diligence reviews of prospective partnerships which have been submitted to CalSTRS by its fund-of-fund managers, Banc of America Capital Access Fund and the New and Next Generation Management Fund, managed by INVESCO Private Capital Inc.

The fiduciaries will make recommendations to CalSTRS investment staff regarding the prospective partnerships under review in domestic underserved and emerging markets.

The Private Equity Proactive Portfolio operates within CalSTRS’ Investments Executive Unit. As of Nov. 30, total private equity was a $14.7 billion part of CalSTRS’ $174 billion investment portfolio.

The final filing date for proposals is Feb, 5. The request for proposals is available for viewing on the CalSTRS website at www.calstrs.com/rfp.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.