CalSTRS retained Pension Consulting Alliance as the $113 billion pension fund's general investment consultant under a five-year contract. Allan Emkin, PCA's lead consultant, has been general consultant to the California State Teachers' Retirement System, Sacramento, for the past 19 years. Other finalists were Ennis Knupp and Callan Associates.
Separately, CalSTRS' investment committee voted to expand its international private equity investments to the entire globe. Staff had recommended limiting the expansion to Japan and Australia only. Currently, CalSTRS has $5.4 billion invested in private equity assets in the United States, Canada, the United Kingdom and Western Europe. Including unfunded commitments, the portfolio totals $10 billion.
