CalSTRS keeps infrastructure investments close to home

CalSTRS made its first infrastructure investments Oct. 4, more than a year after making its inaugural commitment to the asset class.

The $152.5 billion California State Teachers' Retirement System, West Sacramento, invested a total of $42.8 million to four in-state projects, confirmed spokesman Ricardo Duran. The investments are part of $100 million committed to Meridiam Infrastructure North America II earlier this year and First Reserve Energy Infrastructure Fund, to which it committed $150 million in April 2011.

The four investments are:

  • construction of a portion of the Presidio Parkway transportation project in San Francisco;
  • reconstruction of the Long Beach courthouse in Los Angeles County;
  • operation of the gas-fired Crockett power plant near Oakland; and
  • operation of the solar-electric Sun-Edison plant in the Sacramento area.

CalSTRS has committed $750 million to infrastructure funds and is eventually looking to move into co-investments and direct investments.

The construction projects will put 600 more Californians to work and reflects CalSTRS' commitment to the California economy, said Harry Keiley, chairman of the investment committee, in a news release.

This article originally appeared in the October 15, 2012 print issue as, "CalSTRS keeps infrastructure investments close to home".