Calstrs hikes assets for emerging manager private equity program

CalSTRS defines new and next generation managers as private equity professionals seeking to raise their first, second or third institutional fund. The introduction of additional funds will amplify the tangible success the program has achieved since its inception in Invesco will consider funds across a spectrum of stages and industry sectors focused on buyouts, venture capital, and other private equity opportunities.

The foundation of the program is to partner with diverse private equity firms that represent the demographics of California. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans, as well as disability and survivor benefits. The plot of the partnership values over time generally resembles a letter J. Please note that none of the information contained in the Private Equity Portfolio Performance Report has been reviewed or approved by the General Partners of the funds.

Skip to main content. Factors influencing IRR calculations There is no industry-standardized method for valuation or reporting, which makes comparisons of these numbers difficult. All of the following can create differences in IRR calculations: Cash-flow timing The accounting treatment of carried interest Partnership management fees Advisory fees Organization fees Other partnership expenses Sale of distributed stock Valuations In addition, the purchase of secondary interests makes for unique comparison problems due to the specific pricing and timing characteristics of the transaction when contrasted with the Limited Partners Investment.

IRR over time The actual IRR performance of any limited partnership is not known until the final liquidation of the partnership, typically over 10 to 12 years. Performance report disclaimer Please note that none of the information contained in the Private Equity Portfolio Performance Report has been reviewed or approved by the General Partners of the funds.

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