CalSTRS Expands New and Next Generation Private Equity Manager Program
Invesco Private Capital to Manage $200 Million Mandate
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today it will expand its relationship with Invesco Private Capital as the manager for its CalSTRS New and Next Generation Manager Fund II, a $200 million private equity portfolio. Invesco Private Capital has offices in San Francisco, New York, Boston and London.
Invesco Private Capital was selected to construct, manage and monitor its second private equity fund-of-funds portfolio of new and next generation manager partnership investments. New and Next Generation Managers are defined by CalSTRS as private equity professionals seeking to raise their first, second or third institutional fund.
Invesco Private Capital will invest a total of $200 million on behalf of CalSTRS over a five-year period, and will consider funds focused on buyouts, venture capital, and other private equity opportunities across a spectrum of stages and industry sectors. This program is part of CalSTRS commitment to emerging private equity managers whose foundation is to partner with diverse general partnerships that represent the demographics of California.
“We have worked with the Invesco Private Capital team during the past three years, and I have worked with General Partner Mary Kelley specifically for more than eight years. I’ve been able to see first hand how effective they are in sourcing and evaluating new and emerging fund managers,” said Christopher J. Ailman, Chief Investment Officer, CalSTRS. “Invesco will extend our reach and give new and emerging private equity firms direct access to CalSTRS capital.”
Qualified general partners seeking more information can contact Amit Tiwari of Invesco Private Capital at (415) 445-3387.
Established 95 years ago, the California State Teachers’ Retirement System is the second-largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 813,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.