CalSTRS picked Cambridge Associates to recommend U.S. alternative investments, completing an overhaul of the pension fund’s advisory relationships in the asset class.
Earlier this year, McKinsey & Co. was named overall alternative investment adviser to the board of the $92 billion California State Teachers’ Retirement System, Sacramento, while Altius Associates was selected to advise on European partnerships. The total alternative investment portfolio has a current market value of $4.3 billion, of which $3.7 billion is invested domestically.
