CalSTRS reveals over $1.3bn in commitments

The pension has revealed two joint venture commitments alongside its real estate commitments.

Name: California State Teachers’ Retirement System
Headquarters: Sacramento, US
AUM: $321.3 billion
Allocation to private real estate: 15.71%

The California State Teachers’ Retirement System has revealed over $1.3 billion in real estate commitments from January to June 2023, according to a contact at the pension fund.

The most notable of the commitments was a $797 million commitment to PacificCal Debt II, a real estate debt joint venture between PCCP and CalSTRS. A separate joint venture was also announced, with CalSTRS committing $200 million to LDP Cal I, managed by Washington, DC-based Jair Lynch Real Estate Partners.

Other commitments included a $100 million commitment to Harrison Street Real Estate Partners IX and a further $100 million allocated to Fairfield US Multifamily Value Add Fund IV.

Currently CalSTRS allocates 15.71 percent of their portfolio toward private real estate. The full list of commitments revealed can be seen in the table below.

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