Bloomberg – California State Teachers’ Retirement System, the second-biggest U.S. public pension system, made its first hedge fund seed investment by committing capital to activist firm Legion Partners Asset Management LLC.
CalSTRS, based in Sacramento, California, pledged $200 million to Legion in February and took a 30 percent minority stake, investment officer Philip Larrieu, who oversees the pension’s allocations to activist managers, said in an interview last week at the SkyBridge Alternatives Conference in Las Vegas.
