CalSTRS is seeking at least one corporate governance manager to run U.S. or international equities. No dollar amount has been assigned to the portfolios.
The $146 billion California State Teachers' Retirement System, Sacramento, already has $1.2 billion invested in U.S. equity corporate governance strategies. "We believe that significant alpha can be added to the fund, above and beyond the returns available from its core equity portfolio," Elleen Okada, CalSTRS' director of global equities and operations, said in a news release. "This is an opportune time to expand the corporate governance investment strategy into the non-U.S. equity markets as well as increasing our U.S. exposure," she added.
In addition, CalSTRS may create a pre-approved list of qualified corporate governance managers to be used as replacements or additions in the future.
The RFP can be found at www.calstrs.com/About%20CalSTRS/Contract%20Opportunities/RFP/2P200510.aspx. Proposals are due July 21.