CalSTRs Bets Big on Private Equity in H1 2019

August 30, 2019 | Alternative Investments
https://dailyalts.com/wp-content/uploads/2019/08/California-Retirement.jpg

Blackstone receives a big sum from the nation’s second-largest public pension fund.

CalSTRs is doubling down on private equity investments.

The retirement pension fund manages $241.3 billion for teachers and other public beneficiaries. The group also invested $5.5 billion across 30 different private equity vehicles, according to the Wall Street Journal’s review of its documents.

CalSTRs Bets on Blackstone

The pension fund committed fresh investments of $1.55 billion across three different Blackstone funds. At the end of March, CalSTRs had $5 billion tied up with Blackstone. That figure represented the single largest allocation to one private equity fund by the California fund.

The pension group invested $750 million to Blackstone’s eighth flagship fund.

It allocated $650 million to Blackstone’s Strategic Partners’ eighth fund.  It also invested $150 milling in Blackstone’s third energy fund.

CalSTRs also committed $500 million to Permira’s seventh flagship fund and another $280 million to TA Associates’ $8.5 billion 13th fund.

Ramping Up PE Investments

At the end of March, the group had unfunded commitments of %18.6 billion. The pension fund is reportedly working to increase its exposure to private equity in order to bolster returns. Further, this is the third year in a row that it has allocated greater investment to the asset class. However, the firm remains under its goal of hitting 13% exposure.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…