(updated with correction)
The $144.8 billion California State Teachers' Retirement System, West Sacramento, earned an estimated $11 million from selling its entire holdings in Caesars Entertainment Corp., which began trading Wednesday.
CalSTRS owned 1.2 million shares in Caesars, according to an SEC filing.
DuPont Pension Trust, which holds the assets of the $13.6 billion DuPont Pension and Retirement Plan, Wilmington, Del., took in an estimated $1.5 million.
The remaining stakeholders that sold shares Wednesday were mostly equity funds and hedge funds. In all, investors raked in about $200 million by selling 22.3 million shares.
The company's common stock was listed on the Nasdaq Global Select Market under the symbol CZR at $9 a share. It closed Wednesday at $15.39.
Private equity and hedge funds taking advantage of the opportunity to sell off their holdings include close to 20 Goldman Sachs private equity funds, three GoldenTree Asset Management funds, three Highland Capital Partners funds, three Oak Hill Advisors credit funds, two Silver Point Capital funds, two Raptor Capital Management funds and three funds of private equity consulting firm StepStone Group.
