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CalSTRS appoints Cambridge Associates as adviser for US alternative investment strategy

The California State Teachers' Retirement System, which has been seeking advisers for its alternative investment portfolio since September 2002, has appointed Cambridge Associates to the role.

‘Having programme advisors focused solely on opportunities in the US will help us prepare for the growth we expect in the AI portfolio,' said Christopher J Ailman, chief investment officer for the pension plan. ‘The geographic specialisation we've built into the AI advisory function means more meaningful expertise and experience for this important part of our overall investment strategy.'

Cambridge Associates will recommend US opportunities to CalSTRS, perform due diligence and in general assist the CalSTRS staff on alternative investment.

CalSTRS' alternative investment portfolio has generated a 17.5 per cent ‘compounded annual rate of return' since its inception in 1988, it said.

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