Opalesque Industry Update - Meketa Investment Group, a global investment consulting firm, is pleased to announce that it has been selected to provide general consulting services to the Investment Committee of the California State Teachers’ Retirement System (CalSTRS).
CalSTRS is the largest educator-only pension fund in the world with a portfolio valued at $180 billion as of February 28, 2014. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS serves California’s 868,000 public school educators and their families from the state’s 1,600 school districts, county offices of education and community college districts.
Meketa Investment Group was selected after a competitive process involving multiple national consultant firms. Meketa Investment Group joins CalSTRS’ current consultant and will work directly with CalSTRS’ Investment Committee as a co-consultant. Meketa Investment Group will provide research and analysis on Investment Committee projects, monitor and comment on CalSTRS’ strategic asset allocation, and participate in the pension fund’s tri-annual asset allocation study.
“We are very pleased to be selected by a leading pension fund like CalSTRS,” said Stephen McCourt, Managing Principal, Meketa Investment Group. “We believe our deep and experienced investment staff, thought leadership in research, and intensive level of client service, help distinguish Meketa Investment Group and will prove highly beneficial to CalSTRS. We look forward to working closely with their Investment Committee, providing informed insight on key investment issues and decisions.”