California State Teachers' Retirement System held a portfolio worth $346.4 billion as of August 31, 2024. It is invested in private equity, real estate, oil and gas, infrastructure, hedge funds, publicly traded equities, fixed-income securities and cash. The private equity portfolio stood at $53.70 billion on August 31, 2024, or 15.5% of the total, up from $50.33 billion on November 30, 2023. That is above the 14% target allocation. Private equity exposure covers buyouts, co-investments, private growth equity, private debt, venture capital, distressed debt and mezzanine fund strategies, spread across the globe. The plan prefers partnership investments between $15 million and $500 million and is open to first-time funds. The retirement board governs the system's investments, and Mr. Christopher Ailman is Chief Investment Officer. The LP Consultants are Aksia, Bard Consulting, Callan Associates, Cambridge Associates, Colmore, Ernst & Young, Meketa Investment Group, Mercer Investments, StepStone Group Real Estate, Stout Risius Ross, Albourne Partners, Robert Charles Lesser & Company and Valuation Research Corporation.
| Investor | Type | Based in | Focus | AUM | Contacts |
|---|---|---|---|---|---|
| Morgan Stanley Investment Management | Fund of Funds | New York | Debt & credit · Core · Co-investment | $1.6T | 1 |
| Blackstone Group - Fund of Funds and Secondary | Fund of Funds | New York | Multifamily · Industrial · Core | $1.1T | 16 |
| New York Life Investment Management | Asset Manager | New York | Multifamily · Industrial · Co-investment | $740B | 5 |
| Brookfield Asset Management | Asset Manager | Toronto, Canada | Multifamily · Industrial · Opportunistic · Joint venture | $690B | 12 |
| KKR | Asset Manager | New York | Multifamily · Industrial · Core · Co-investment | $553B | 11 |
| Ares Management | Asset Manager | Los Angeles | Multifamily · Industrial · Core | $546B | 16 |
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