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Sacramento, CA – The California State Teachers’ Retirement
System has selected Pendleton James Associates to conduct a nationwide
search for its new chief investment officer.
Pendleton James Associates is one of the top investment management consulting
firms in the U.S., and has more than 20 years experience in the investment
management job market.
Final selection of the CIO should be completed by mid-August. The successful
candidate will direct a staff of 46 people and oversee the management
of an $111 billion portfolio. The CIO develops and implements strategies
for overall asset allocation and investments in public and private equity,
fixed income and real estate.
CalSTRS, the nation’s third largest public pension fund, posted
an 18.3 percent return on its investments in 1999. This marked the fifth
consecutive year for double-digit returns, with CalSTRS outperforming
72 percent of the other large public pension funds according to the Trust
Universe Comparison Service.
The CIO search is necessary following the resignation of Patrick Mitchell,
who leaves July 15, 2000. Mitchell resigned to seek opportunities in the
equity management field following 12 years at CalSTRS, the last four as
CIO.
Established by law in 1913, CalSTRS provides retirement benefits to more
than 161,400 retired public school teachers and their families. More information
on CalSTRS is available at its Web site, www.calstrs.ca.gov.
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