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INVESTING/PORTFOLIO STRATEGIES

CalSTRS pumps $250 million into private equity emerging manager program

CalSTRS is adding $250 million to its new and next generation private equity manager program, an emerging manager program, said Ricardo Duran, CalSTRS spokesman, in an email.

Funding is from the California State Teachers' Retirement System's 9% private equity target. The $202.1 billion West Sacramento-based retirement system has $16.7 billion invested in private equity.

The increase brings CalSTRS’ total investment in its emerging manager private equity program, which is managed by Invesco (IVZ) Private Capital, to $800 million.

The program commits capital to managers raising their first, second or third institutional fund. CalSTRS started the program in 2005.