CalSTRS promotes Blatnick to Chief of Administrative Services

California State Teachers’ Retirement System said Tuesday it promoted Lisa Blatnick to Chief of Administrative Services. The position was effective Aug. 1, according to a statement. As Chief of Administrative Services, Blatnick will oversee the strategic direction, policy development and management of the Administrative Services Branch.

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peHUB First Read

This morning read all about Google’s European VC arm, CalSTRS targeting small-mid-market firms and the latest distressed debt and bankruptcy restructuring rankings for Q2 2014.

CalSTRS appoints new global equity director

The California State Teachers’ Retirement System said Wednesday that it has hired June Kim as director of global equity. Her appointment begins July 21. Previously, she worked at at the Los Angeles County Employees Retirement Association where she served as principal investment officer for global equities.


CalSTRS commits $743 mln to alternatives in Q1: Buyouts

The California State Teachers’ Retirement System committed $743 million to private equity investments during the first quarter, with a $200 million commitment to Clayton Dubiler & Rice Fund IX drawing the single largest pledge.

First read Feb 24

peHUB First Read

This morning find out what’s hot and what’s not in Boston biotech, why top Italian banks are tapping the PE world, who Washington State and CalSTRS are committing to and how UTIMCO hit the Internet 2.0 jackpot.

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Top 10 posts of the week

Trending on peHUB this week: Expa, Harvard, Richard Hall, Garrett Camp, CalPERS, OMERS, Bregal Partners, CalSTRS, Canaan Partners, TPG, Carlyle, Peter Dolan, fundraising, recruiting and breaking into private equity.

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Top 10 posts of the week

Trending on peHUB this week: CalPERS, OMERS, JP Morgan Chase, Russell Investments, HGGC, MassPRIM, Cambridge, TPG Capital, dry powder, VC returns, PE jobs and direct investing.


peHUB First Read

This morning read all about CalSTRS pledging almost a billion to PE, AlpInvest singing the praises of co-investments, VCs views on Bitcoin and who tops the buyouts distributions list for New Jersey.

Slideshow: A Look At How Mega-Funds Perform For CalSTRS

European powerhouse CVC Capital Partners takes the crown in this week’s battle of the U.S. and European mega-buyout houses, securing first place in our list of top 10 funds based on private equity performance figures from California State Teachers’ Retirement System. U.S. and European firms both account for five of the top-10 spots with The Blackstone Group coming in a close second place.

CalSTRS to vote against Kinder Morgan-El Paso merger

CalSTRS, the big teachers pension fund in California, said it will vote against Kinder Morgan‘s $23 billion takeover of El Paso Corp, writes Reuters. The pension fund cites the deal’s lack of transparency and apparent conflicts of interest as its reason for not supporting the deal. Reuters – CalSTRS, the big teachers pension fund in […]


Shasta Confirms It Raised Third Fund, Beats Target in Tough Environment

Four months after peHUB reported that Shasta Ventures was in the market for a third fund, the Silicon Valley venture firm announced today that it has raised $265 million for Shasta Ventures III LP.

Thanks to positive IRRs on its first two funds, Shasta came in above target on its third vehicle despite a difficult fundraising environment. Shasta said in a July 15 regulatory filing that it planned to raise $200 million.

In an apparent bid to capture the attention of technology entrepreneurs, the early stage tech firm broke the fundraising news on TechCrunch, a popular technology blog. Shasta, based in Menlo Park, Calif., did not issue a press release.

Tod Francis — co-founder of the firm and one of …

A Golden Year for CalPERS and CalSTRS

California’s two giant pensions blazed ahead of their benchmarks to post fiscal-year returns that each topped 20 percent. The $154.3 billion California State Teachers’ Retirement System, said its 23.1 percent return was “remarkable,” adding that it was its best performance in 25 years. Meanwhile, the $237.5 billion California Public Employees Retirement System posted a 20.7 percent return, the best since 1997.

Together, the two pensions are now $66 billion richer than they were at this time a year ago.

Leading the strong returns were public and private equities. For CalPERS, private equity, which accounts for 13.8 percent of its portfolio, returned 25.3 percent for the year, whereas public equities, accounting for 53.4 of the portfolio, returned 30.2 percent. At CalSTRS, private equity, which makes up 14.3 percent of its portfolio, returned 22.5 percent for the year, while public equities, which accounted for 53.4 percent of the portfolio, returned 31.9 percent for the year.

CalSTRS Posts 23.1% Return

The California State Teachers’ Retirement System posted a 23.1% return for the 2010-11 fiscal year. CalSTRS brought in $29 billion for the fiscal year ended June 30. Market value of CalSTRS investment portfolio was $154.3 billion, according to a statement.

CalPERS Names Desrochers As Private Equity Chief

The largest pension in America just named a new chief for the nation’s largest private equity program. Réal Desrochers was named senior investment officer in charge of private equity at the California Public Employees Retirement System. CalPERS’s private equity portfolio has about $33 billion in assets and $49 billion in committed capital.

Overall, CalPERS has $236 billion under management and provides benefits to some 1.6 million people. Desrochers will report to Joe Dear, CalPERS’ chief investment officer.

Desrochers is a familiar name in private equity, most notably as director for alternative investments at the $155 billion California State Teachers Retirement System, the state’s other giant pension. During his 11 years at CalSTRS, Desrochers more than quintupled the size of its private equity program to $17 billion, and garnered average annual returns of 17.5 percent. He left CalSTRS in 2009.

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