California State Teachers’ Retirement System, West Sacramento, hired three managers for equity strategies, confirmed system spokesman Michael Sicilia.
Analytic Investors was allocated $200 million for a U.S. low-volatility strategy; AQR Capital Management received $200 million for a U.S. defensive equity strategy; and Gateway Investment Advisers was hired to run a $100 million covered call strategy.
The hires are part of the $190.8 billion system’s innovation and risk portfolio. The retirement system tests various strategies under that portfolio, usually increasing allocations to successful strategies.
