Justin Mitchell

The pension's portfolio has lost billions in value as the public markets have struggled due to the covid-19 pandemic.

The $254bn pension will slowly raise the allocation in a series of "steps," but will not commit to a hard timeline for the process. CalSTRS also plans to begin its search for its next private equity consultant.

Venture is a tricky asset class. When you do well, you do really well, but a few bad investments can seriously hurt you in the long term.

“We are trying to find ways to … get venture capital investment back in our portfolio,” Chief Investment Officer Yu (Ben) Meng says at CalPERS’ Nov. 18 board meeting.

TorreyCove suggested the pension cut back, partly over fears of a coming market downturn and poor performance by some of its venture managers.

As of June 30, private equity had a one-year return of 16 percent and made up 20 percent of the endowment’s portfolio.

Oregon also announced it promoted Amanda Kingsbury from senior investment analyst for alternatives to investment officer in alternatives.

Christian Angermayer, despite having a $400 million family office, still considers himself an entrepreneur at heart. He started his first company, Ribopharma, while still in college, but quickly dropped out to build it up. Ribopharma merged with Alnylam Pharmaceuticals in 2003. Soon after, Angermayer sold his shares and became a wealthy man. “Technically, I am […]

Massachusetts Pension Reserves Investment Management Board added Sarah Zatoonian to its private equity team in June as an investment analyst.

California State Teachers’ Retirement System (CalSTRS) announced Tuesday it returned a net 6.8 percent on investments for the fiscal year ending June 30, slightly below its goal of 7 percent. It also reported its highest ever fund value at $236.9 billion. The pension fund’s three-year, 10-year and 25-year returns were above 7 percent, with the […]