CalSTRS staff favors shifting the asset mix of its $350 million...

CalSTRS staff favors shifting the asset mix of its $350 million private equity program that invests in urban and rural assets in California. Three potential asset mixes will be presented at the investment committee meeting Oct. 2, and fund staff favors a mix of 50% in funds of funds and 50% in a combination of corporate partnerships, co-investment funds, and middle-market and venture capital funds, said Sherry Reser, spokeswoman for the $93 billion California State Teachers' Retirement System, Sacramento. The staff's original recommendation had favored a 65% allocation to funds of funds and 35% to direct investments. The fund will not issue RFPs, since the private equity staff has discretion to make the investments.