California State Teachers' Retirement System (CalSTRS)
- Assets: $183 billion
- Who it serves: 600,000 California public school teachers
Investments: California's teachers are a politically active bunch. The pension fund requires that any potential investment meets a comprehensive list of so-called risk factors that take into account its "social, human, and environmental impacts." So when it was revealed after the December 2012 Sandy Hook Elementary School massacre that CalSTRS is an investor in Cerberus, a private equity firm that owns the maker of the rifle used in the shooting, California teachers were furious.
Cerberus promptly pledged to sell the Freedom Group, which owns gun maker Bushmaster, but more than a year and a half after the tragedy, it's been unable to find a suitable buyer. CalSTRS could attempt to liquidate its position and sell its overall stake in Cerberus, but doing so is a lengthy process and could result in a significant loss to the fund.
