The California State Teachers’ Retirement System, the country’s second-largest pension fund, may borrow more than $30 billion to help it maintain liquidity without having to sell assets at fire-sale prices, according to a new policy its investment committee will consider this month.

  • Calstrs could leverage 10% of portfolio under new policy
  • Adds to growing trend of pensions adopting riskier investments
  • Christopher Ailman – CALSTRS Chief Investment Officer since 2000 – rumoured to have suddenly “stepped down”.

https://www.bloomberg.com/news/articles/2024-01-04/calstrs-seeks-to-borrow-more-than-30-billion-to-manage-cash