CalSTRS committed up to $215 million to Blackstone Capital Partners IV, a diversified buyout fund. Separately, staff at the $98 billion California State Teachers Retirement System, Sacramento, proposed loosening guidelines for its $5.2 billion real estate portfolio. The systems investment committee will vote on the proposed changes Dec. 6. Key changes are: widening target ranges for investments in moderate- and high-risk real estate portfolios; permitting leverage up to 50% of the total real estate portfolio (current policy has no cap, but the change is expected to add flexibility); allowing investment in debt with equity features, such as mezzanine or participating debt, in addition to other types of vehicles; and increasing the amount staff can invest within existing relationships without first obtaining board approval to $400 million from $100 million. Staff discretion for investing in new relationships would remain capped at $100 million.