CalSTRS and CalPERS to Build Emerging Managers and Financial Services Database; Database Aims to Broaden Diversity Investment Opportunities for Public and Private Pension Funds.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The California State Teachers' Retirement System (CalSTRS) and the California Public Employees' Retirement System (CalPERS) today announced a joint effort to build a first-of-its-kind database of emerging managers and financial service providers. The effort, which is being led by New York-based Altura Capital, will target money managers, private equity funds, private equity funds of funds, private real estate investments, REITs, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , hedge funds of funds, consultants, emerging manager program managers, broker dealers and research firms. Interested firms can join the database free of cost at www.alturacap.com. CalSTRS and CalPERS aim to capture a wide universe of untapped talent in the investment industry to broaden diversity investment opportunities for public and private pension funds, promote transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. and access to capital, and develop a better understanding of emerging investment firms. "This database will help expand the diversity of ideas and people in our $142 billion investment portfolio," said Christopher J. Ailman, Chief Investment Officer for CalSTRS. "We believe the database will help us to achieve good investment returns and build an investment portfolio that taps into the changing demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. and talent emerging in California and the nation." "We recognize that diversity is a competitive advantage in business and for our investment portfolio," said Anne Stausboll, CalPERS Interim Chief Investment Officer. "This database will help us to identify and track new and emerging investment talent." "The goal of the database is to expose CalSTRS, CalPERS and other institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. to the first layer of information about emerging firms," said Monika Mantilla, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Altura Capital. "This is a truly unique opportunity for emerging managers and other emerging financial service providers to showcase their strengths and capabilities." Investment firms have 90 days to review the participation criteria and complete an online questionnaire. The deadline to join the database is July 17, 2006. The database will be made available to participants, plan sponsors, endowments, corporations and other institutional investors. With a $142 billion investment portfolio, the California State Teachers' Retirement System is the second-largest public pension fund in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It provides retirement, disability and survivor benefits to California's 776,000 public school educators from kindergarten kindergarten [Ger.,=garden of children], system of preschool education. Friedrich Froebel designed (1837) the kindergarten to provide an educational situation less formal than that of the elementary school but one in which children's creative play instincts would be through community college. CalPERS is the nation's largest public pension fund with assets totaling $205 billion. The System provides retirement and health benefits to more than 1.4 million State and local public employees and their families. For more about CalPERS, visit www.calpers.ca.gov. |
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