Calstrs Seeks to Borrow More Than $30 Billion to Manage Cash
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”.