CalSTRS Seeks Alternative Investment Consultant
SACRAMENTO, CA – The California State Teachers’ Retirement System seeks an alternative investment consultant to provide expertise, advice, and recommendations to the CalSTRS Investment Committee related to the overall investment strategy, policies and practices of the CalSTRS alternative investment program.
The final filing date for proposals is March 30, 2007, with the selection expected by July 1, 2007. A copy of the request for proposal is available at www.CalSTRS.com/rfp.
The alternative investment consultant will work closely with the CalSTRS Investment Committee to monitor and comment on the alternative investment portfolio performance and policy. The alternative investment consultant must be a registered investment advisor and may be asked to recommend or opine on individual investment proposals for an additional fee.
The CalSTRS investment portfolio, at $157.9 billion, is the second largest public pension fund in the nation. At year’s end, the alternative investment portfolio had market value of $9.4 billion, with committed values of $19.9 billion. The alternative investment portfolio is invested in three types of investment vehicles: (1) limited partnerships, which comprise 94 percent of the portfolio, (2) co-investments and (3) secondary interests of limited partnerships. It has generated an 18.9 percent compounded annual rate of return since its inception in 1988.
With a $157.9 billion investment portfolio, the California State Teachers’ Retirement System is the second-largest public pension fund in the United States. It provides retirement, disability and survivor benefits to California’s nearly 800,000 public school educators from kindergarten through community college.