Investors - FEBRUARY 11, 2014

CalSTRS OKs infrastructure investments

by Andrea Waitrovich

The board of trustees of the $181.1 billion California State Teachers’ Retirement System has approved an allocation of $300 million for initial investment with an infrastructure general partner and up to $300 million in a follow-up investment with that same general partner, without board approval.

The new policy applied to existing managers and their funds. CalSTRS current mangers are First Reserve Infrastructure Fund, IFM Global Infrastructure Fund, Meridiam Infrastructure North America and Balfour Beatty.

CalSTRS’ total target allocation to infrastructure is $4 billion, and the pension fund has approximately $1 billion currently invested in infrastructure.

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