East Bay Business Times – The nation’s two largest public pension funds plan to build a “first-of-its-kind” database of emerging managers and financial service providers.
The effort by the California Public Employees’ Retirement System and the California State Teachers’ Retirement System is being led by New York-based Altura Capital. It will target money managers, private equity funds, private equity fund of funds, private real estate investments firms, REITs, hedge funds, hedge fund of funds, consultants, emerging manager program managers, broker dealers and research firms.
The database will be made available to participants, plan sponsors, endowments, corporations and other institutional investors.
CalSTRS, with a $141 billion investment portfolio, and CalPERS, now at $208 billion, “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 and access to capital, and develop a better understanding of emerging investment firms,” according to a statement released Monday.
Interested firms can join the free database at www.alturacap.com. Investment firms have 90 days to review the participation criteria and complete an online questionnaire. The deadline to join the database is July 17.
“This is a truly unique opportunity for emerging managers and other emerging financial service providers to showcase their strengths and capabilities,” said Monika Mantilla, CEO and president of Altura Capital.
