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...One example is the $137bn New York State Teachers’ Retirement System, which sold 34 private equity holdings with $3.5bn in total commitments on the secondary market at the end of last year....
...Its investors include state pension schemes in California, Texas, Florida and Iowa as well as investment funds in Canada, Australia and across Europe....
...Last week, Christopher Ailman, outgoing chief investment officer at Calstrs, warned that while “it’s great [private equity funds] make money for our retirees — who are teachers — and for other funds . ....
...Ailman, who has served as CIO of the California State Teachers’ Retirement System since 2000, announced his retirement at a board investment committee meeting on Thursday....
...Calstrs, formally the California State Teachers’ Retirement System, has for six years in a row put more money into private equity than it has received back, according to filings....
...One day after April Fools’, the $495bn California Public Employees’ Retirement System has announced that another sucker has decided to subject themselves to what might be the worst job in the entire global...
Past performance does not guarantee . . .
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...“It’s great they make money for our retirees — who are teachers and for other funds,” he said....
...Ailman, who has served as CIO at the $318bn California State Retirement System since 2000, shared his retirement plans at a fund board meeting on Thursday morning....
...Bright orange poppies, California’s protected state flower, dotted the verges....
...Recommended FT articles and tasks picked by our teacher advisers to help improve study, exam and interview success....
...The portfolio shake-up, which was confirmed after a scheduled asset allocation review, will bring the California-based plan into line with other big retirement systems in the US, including Calstrs, which...
...State Teachers Retirement System....
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...But in California’s “jungle” primary system, the top two finishers advance to the general election — and it is possible that a Republican could be one of the two....
...But Chris Ailman, the departing chief investment officer of the $327bn California State Teachers Retirement System, believes higher rates are attractive for investors in private credit, because of the higher...
...Fink’s letter raised issues more than it suggested concrete solutions, but he wrote that Japan had found ways to encourage people to stay in work longer and that Australia’s national retirement savings system...
...The California Public Employees’ Retirement System has named a new chief investment officer to replace the former CIO, who in 2023 left the job after less than two years....
...Each of these artists has participated in the Los Angeles arts community in a myriad of ways, assuming the roles of curator, writer and teacher in addition to artist....
...The number of teachers taking early retirement in England and Wales has jumped more than 40 per cent in a year, according to official data, pointing to a deepening workforce crisis across the school system...
...If imperative, they should be addressed in the design of the tax system....
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