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CalSTRS CEO Jack Ehnes and PCCP partner Jim Galovan (Photos via iStock, CalSTRS, PCCP) The nation’s second largest public pension fund and an investment firm are placing a big bet on build-to-rent housing. California State Teachers’ Retirement System and Pacific Coast Capital Partners have formed a $1 billion joint venture to invest in the fast-growing single-family housing sector, according to the Los Angeles Business Journal. The venture will focus on build-to-rent communities in primary and secondary markets across the country. It will acquire existing properties and construct new sing...

CalSTRS Aims for New $2 Billion Sustainable Portfolio Pension plan officials believe they can build a new private markets allocation without sacrificing investment targets. The California State Teachers’ Retirement System (CalSTRS) plans to build a private markets sustainable investment portfolio to go greener while aiming to maintain its investment returns. The investment committee of the $282.5 billion pension system, the largest teachers’ retirement fund in the world, is expected to approve the new portfolio at its meetings next week.  The pension system’s plan calls for investments...

CalSTRS participant retirements jump in second half of 2020 Top 3 reasons related to COVID-19 pandemic; CalPERS retirements hold steady CEO Jack Ehnes said retirements were up 26% at CalSTRS. CalSTRS had an unexpected large wave of teacher retirements, 3,202 in the last six months of 2020, up 26% from the year-earlier period, said Jack Ehnes, CEO of the $283.4 billion pension fund. In an internal survey of retirees, 62% of the 517 respondents indicated they had retired earlier than planned, according to the survey conducted by the staff at the California State Teachers' Retirement System, Wes...