CalSTRS is seeking information on leveraging its $5 billion real estate portfolio, possibly leading to an advisory role in managing the $100 billion pension funds real estate debt. The California State Teachers Retirement System, Sacramento, recently boosted its target real estate allocation to 7% from 5%.
In the RFI, the system asked a series of questions on the merits of leveraging its real state portfolio, including whether CalSTRS should raise capital in private or public markets, and various implementation issues. It is seeking firms that qualify as a fiduciary and/or have experience executing large debt transactions for real estate portfolios. Responses are due by Jan. 31.