CalSTRS Expands Private Equity Program

June 12, 2012 ( - The California State Teachers' Retirement System (CalSTRS) announced a $250 million expansion of its New and Next Generation Private Equity Manager Program with Invesco Private Capital (IPC).

CalSTRS defines new and next generation managers as private equity professionals seeking to raise their first, second or third institutional fund. The introduction of additional funds will amplify what the fund calls “the tangible success” the program has achieved since its inception in 2005. The program’s assets under management now total $550 million.   

Invesco will consider funds across a spectrum of stages and industry sectors focused on buyouts, venture capital, and other private equity opportunities. The New and Next Generation Private Equity Manager program is part of CalSTRS commitment to emerging private equity managers. The foundation of the program is to partner with diverse private equity firms that represent the demographics of California.   

CalSTRS, with a portfolio valued at $153.7 billion as of April 30, is the largest teacher pension fund and second largest public pension fund in the United States.