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Alternative Market Briefing

BlackRock low-carbon strategies attract $1 billion from CalSTRS

Monday, April 12, 2021

Laxman Pai, Opalesque Asia:

California State Teachers' Retirement System, West Sacramento, invested $1 billion in two new low-carbon transition readiness exchange-traded funds managed by BlackRock.

A press release from the American multinational investment management corporation based in New York City said that the two funds raised more than $1.5 billion, highlighting the increased focus on climate-aware strategies from global institutional investors.

A consortium of global institutions invested in the funds, including the California State Teachers' Retirement System (CalSTRS), Temasek, Sura Asset Management, Varma Mutual Pension Insurance Company, Profuturo Group, FM Global, and RenaissanceRe.

More than $1.2 billion flowed into LCTU making it the largest ETF launch of all time. Additionally, approximately $500 million was invested in LCTD, making it one of the largest ETF launches in history.

"Our allocation to this strategy furthers CalSTRS's goal to position our portfolios for the low-carbon transition," said Chris Ailman, Chief Investment Officer at CalSTRS. "Identifying and supporting opportunities that move CalSTRS and the global economy to a low-carbon future helps ensure we can continue to provide a secure retirement for California's educators."

The BlackRock U.S. Carbon Transition Readiness ETF (LCTU) and the BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) invest in large- and mid-cap companies, tilting toward those companies that Bl......................

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