CalSTRS Selects Firm for New and Next Generation Manager Fund

News release

Sacramento, CA – The California State Teachers’ Retirement System has announced the selection of INVESCO Private Capital as manager for its newly established “CalSTRS New and Next Generation Manager Fund.” INVESCO Private Capital has offices in Denver, Palo Alto and New York.

INVESCO Private Capital was selected through a competitive process to construct, manage and monitor a private equity fund-of-funds portfolio of new and next generation manager partnership investments. New and Next Generation Managers are defined by CalSTRS as experienced private equity professionals splitting off from their current partnerships or organization, young partnerships seeking their second institutional fund and experienced private funds or investors seeking institutional funding for the first time.

INVESCO Private Capital will invest an initial $100 million on behalf of CalSTRS over a five-year period, and will have full discretion to consider funds focused on buyouts, equity expansion, venture capital, clean technology and the environment.

“We’re pleased to partner with INVESCO Private Capital, which has a proven track record in selecting new and next generation private equity managers,” said Christopher J. Ailman, CalSTRS Chief Investment Officer. “We expect them to select a pool of partnerships that will reflect the diversity of the next generation of managers that has entered the market in recent years. We’re looking forward to the new managers becoming a part of the CalSTRS private equity investment pool and watching as they become successful going forward.”

As part of this venture, INVESCO Private Capital will add an additional professional dedicated to the program in its Palo Alto, California office. Qualified general partners seeking more information can contact Kristine Brandt at 212-278-9479.

CalSTRS, with a $123 billion portfolio, is the nation’s third largest public pension fund. It administers retirement, disability and survivor benefits for California’s public school educators in grades kindergarten through community college, serving more than 755,000 members and benefit recipients.