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Fortune
Fortune
Jessica Mathews

CalSTRS taps Sapphire Partners to manage its new emerging manager VC investments

(Credit: Christopher Goodney—Getty Images)

When the California State Teachers’ Retirement System makes any kind of change to its portfolio, people pay attention.

With more than $321 billion in assets under management, CalSTRS is one of America’s largest public pension plans and therefore one of the world’s most important limited partners, with approximately $50 billion in capital strewn across private funds and, naturally, some of the world’s most influential private companies.

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