US pension fund California State Teachers’ Retirement System
(CalSTRS) committed a total of $2.2 billion to private equity
managers in the second half of last year ended 30 September,
bringing its total for 2019 to $7.6 billion.
According to its latest private equity investment report, the
second half commitment included the $1.6 billion approved during
the fourth quarter, increasing its exposure to PE to 9.5 per cent
from 9.3 per cent in March last year.
The pension fund’s overall PE program is slightly above the
current target of 9 per cent but still below the long-term target
exposure of 13 per cent.