The California State Teachers’ Retirement Board, the governing body of CalSTRS, has selected Pension Consulting Alliance as the private equity consultant to its Investment Committee for the next five years.
PCA will provide independent assessments of the private equity portfolio’s performance.
PCA will also prepare the semi-annual performance reports and review the annual business plans. The firm will review, comment and make independent recommendations on investment strategies, policies and practices of the private equity program. PCA will also provide independent, objective analysis of proposed investments.
PCA is an employee-owned Portland, Ore. firm founded in 1988 and chartered in Delaware. The firm’s sole line of business is investment consulting and client advocacy, retaining only non-discretionary relationships with clients. Among PCA’s 29 consulting clients are public and private pension systems, university savings plans, endowments and Taft-Hartley funds. PCA has offices in New York City; and in Los Angeles, San Diego, Sacramento and Carmel, Calif.
CalSTRS has established a best-practices standard in the separation of duties among consultants to create an environment of objectivity and clarity of responsibilities. This means that the consultative function has been divided into three broad areas with the private equity consultant, PCA, handling the broader assessment and analysis function.