Institution: California State Teachers’ Retirement System
Headquarters: Sacramento, United States
AUM: $238.25bn
Allocation to alternatives: 26.03%
Bitesize: $100-200m
California State Teachers’ Retirement System launched a joint venture with Strada Investment Group in which CalSTRS committed $300 million, confirmed by a source at the pension. The joint venture will make core investments in multifamily real estate throughout the Western United States.
The $238.25 billion US public pension has a 13 percent target allocation to real estate that currently stands at 13.67 percent.
As illustrated in the charts below, 26.03 percent of the pension’s portfolio is dedicated to alternative assets. CalSTRS has a strong appetite for North America-focused funds across diversified sectors.
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