CalSTRS reported committing $1.2 billion to private equity funds and $900 million to private equity co-investments in the first half of 2024.
The $346.5 billion California State Teachers' Retirement System, West Sacramento, committed $250 million to buyout fund Blackstone Capital Partners IX, its second commitment to the fund. Pension fund officials made the first $250 million commitment to the fund in 2023.
CalSTRS also committed $165 million to North America lower middle-market buyout fund Peak Rock Capital IV and $125 million to buyout fund Tenex Capital Partners IV, managed by Tenex Capital Partners. Pension officials also committed $100 million each to lower middle market buyout fund Cortec Group Fund VIII, a buyout fund targeting GP-led single asset continuation funds; ICG Strategic Equity Fund V, a middle market buyout and growth equity fund; TPG Asia VIII; debt related fund FP Credit Partners III, managed by Francisco Partners; and global debt fund Lone Star XII, managed by Lone Star Funds.
CalSTRS also committed $75 million to North American buyout fund Searchlight Capital Partners IV, its second commitment to the fund bringing total commitments to the fund to $150 million. CalSTRS made its first $75 million commitment to the Searchlight fund in 2023.
The pension fund committed $50 million to North America buyout fund Vistria Fund V, managed by the Vistria Group; $20 million to North America venture capital fund Spark Growth Fund V, managed by Spark Capital; and $10 million to North America venture capital fund Spark Capital VIII, also managed by Spark.
CalSTRS co-investments included the two largest during the period: $135 million to Cinven Pegasus Limited Partnership alongside Cinven Partners for a financials company in Europe and $110 million to Blackstone Aurelia Co-Invest alongside Blackstone.
