At $130 billion in assets, the California State Teachers’ Retirement System is the third largest pension in the United States. But in terms of its approach to investing in hedge funds, the pension lags far behind its peers.
The $199.4 billion California Public Employees’ Retirement System first started investing in hedge funds in 2002 and now has $6 billion invested with the funds, while the $132 billion New York State Common Retirement Fund made its first hedge fund investment in 2005 and now allocates $3.8
