CALSTRS To Invest Less In Latest Blackstone Fund: report

The California State Teachers’ Retirement System, one of the largest U.S. pension funds, plans to invest only $250 million in Blackstone Group’s newest private equity vehicle, a rollback from the $1.7 billion it committed to the firm’s prior fund, according to a report in the Wall Street Journal.

The report did not state any specific reason for CALSTRS’s decision.The fund manages about $160 billion in assets.

No one at Blackstone or Calstrs could be reached for immediate comment.

(Reporting by Sweta Singh in Bangalore; Editing by David Holmes)