Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Innovation Investing Conference
    • 2022 Defined Contribution East Conference
    • 2022 ESG Investing Conference
    • 2022 DC Investment Lineup Conference
    • 2022 Alternatives Investing Conference
Breadcrumb
  1. Home
  2. SEARCHES AND HIRES
March 27, 2018 01:00 AM

CalSTRS allocates $6.1 billion in second half of 2017

Arleen Jacobius
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    CalSTRS committed a total of $6.1 billion to new and existing real estate managers, private equity funds and co-investments, according to recently released reports on investment activity in the last half of 2017.

    The $224.4 billion California State Teachers' Retirement System, West Sacramento, committed £500 million ($697 million) for a separate account with Principal Real Estate Investors called CP Logistics UK to invest in industrial assets in the U.K. CalSTRS also committed $500 million to J.P. Morgan Asset Management for a core real estate joint venture; $495 million to middle-market manager PCCP for PacificCal Debt II, a core real estate debt joint venture; $400 million to Blackstone PP Europe, a value-added open-end real estate fund managed by Blackstone Group; and $300 million to Beacon Capital Strategic Partners VIII, an office-sector real estate fund managed by Beacon Capital Partners.

    CalSTRS has invested with Principal Real Estate Investors, JPMAM, PCCP and Beacon in the past, including joint ventures.

    Also in real estate, it committed $200 million each to BlackRock for another opportunistic real estate joint venture and Partners Group for a co-investment alongside Partners Group Golden Coast. CalSTRS also committed another $200 million to Partners Group for Partners Group Real Estate Secondary 2017, a secondary market fund. The pension fund committed $157 million to a separate account investing in core office properties with CBRE Global Investors. CalSTRS also committed $100 million to AEW Capital Management's pan-Asia value-added real estate fund, AEW Value Investors Asia III, and committed an additional $100 million co-invest alongside the fund. The pension fund committed $150 million to real estate manager CrossHarbor Capital Partners' credit fund, CrossHarbor Strategic Debt Fund, and made a $21 million co-investment with CrossHarbor.

    CalSTRS also committed €125 million ($154 million) to European real estate fund Meyer Bergman European Retail Partners III, $100 million to Artemis Real Estate Partners Healthcare Fund I and $100 million to LaSalle Asia Opportunity V, the latest closed-end pan-Asia opportunistic fund managed by LaSalle Investment Management.

    In private equity, CalSTRS committed $350 million to Olympus Growth Fund VII, a middle-market buyout fund managed by Olympus Partners; $250 million to AlpInvest Co-Investment Fund VII, managed by the Carlyle Group's alternative investment secondary market and co-investment group AlpInvest Partners; and $250 million to GSO Capital Solutions Fund III, managed by Blackstone Group's credit unit GSO Capital Partners.

    CalSTRS also committed $200 million each to Castlelake V, a middle-market distressed debt fund; Francisco Partners V, a middle-market technology buyout fund managed by Francisco Partners Management; TPG Growth Fund IV, a middle-market buyout fund; and Affinity Asia Pacific Fund V, a large buyout fund managed by Affinity Equity Partners investing in Korea, Australia, New Zealand, Southeast Asia and China. CalSTRS also committed $130 million to Spectrum Equity VIII, a growth equity fund managed by Spectrum Equity Management; £67.5 million to middle-market distressed debt and special situations fund Alchemy Special Opportunities Fund IV, managed by Alchemy Partners, €50 million to Summit Partners Europe Growth Equity Fund II, a private equity fund taking minority stakes in growth companies; $50 million to large buyout fund Carlyle Asia Partners V, managed by Carlyle Group; and $40 million to Valor Equity Partners Fund IV, a small buyout fund.

    CalSTRS also made a $29 million co-investment alongside Summit Partners in Harvey Performance Co., a Rowley, Mass.-based cutting tools company. CalSTRS' other co-investments were a $60 million commitment to a health-care co-investment, WCAS UCAP Co-Investment, managed by private equity firm Welsh, Carson, Anderson & Stowe; $58 million with Energy Capital Partners in Volt Parent; and $46 million with BC Partners' BC European Capital X – Shawbrook Co-Investment.

    Related Articles
    CalSTRS allocates $243 million to hedge fund, direct lending fund
    CalSTRS invests $204 million in GTIS Partners joint venture
    CalSTRS picks 8 managers for future ESG-related opportunities
    CalSTRS allocates $450 million to 2 managers
    CalSTRS to explore collaborative investing in alternatives
    CalSTRS takes a watch position on race, gender equity policy bill for alts mana…
    PAI Partners closes latest fund at €5 billion
    GSO Capital Solutions Fund III closes at $7 billion hard cap
    LaSalle closes latest Asia opportunity real estate fund at $1.15 billion
    CalSTRS boosts commitment to Belay Investment
    California funds feel private equity shock
    Valor Equity Partners closes fourth growth fund at $1.05 billion
    Capital Dynamics raises $1.2 billion for latest clean energy fund
    Recommended for You
    Franklin Templeton names head of sustainable agri-food
    Oil Refinery Poland Climate Carbon_i.jpg
    Divesting isn't answer to reducing carbon, Carlyle study finds
    Generic_Commerical_Real_Estate_i.jpg
    Legal & General Capital partners with Ancora for life-science, technology platform
    OCIO, Anchor in Rough Seas
    Sponsored Content: OCIO, Anchor in Rough Seas

    Reader Poll

    May 23, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Crossroads: Politics, Inflation, & Bonds
    Credit Indices: Closing the Fixed Income Evolutionary Gap
    Forever in Style: Benchmarking with the Morningstar® Broad Style Indexes℠
    Q2 2022 Credit Outlook: Carry On
    Leverage does not equal risk
    Is there a mid-cap gap in your DC plan?
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    May 23, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Innovation Investing Conference
      • 2022 Defined Contribution East Conference
      • 2022 ESG Investing Conference
      • 2022 DC Investment Lineup Conference
      • 2022 Alternatives Investing Conference