57 more managers, 474 more commitments and 491 more dated events

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California State Teachers' Retirement System

State retirement system· West Sacramento, Californiacalstrs.com

State retirement system, based in West Sacramento, California, reporting $373B in assets, for 1,040,000 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$373B
Private allocation
35.0%
Fund commitments
476
Managers
115
As of · the latest dated event for this allocator; each figure carries its own filing or report date

What may matter next

A pattern DFX replayed against history, using only what was known on each date, points at this record. The rate belongs to the pattern, not to this entity; what already happened is below.

Allocators · Re-upWindow to Sep 2027

C••••••••• S•••• T•••••••• R••••••••• S•••••

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedC••••••••• S•••• T•••••••• R••••••••• S••••• h•••• O•• H• F• P••••••• V• L• a•• t•• m•••••••• n••• f••• i• t••• s•••••• O•• H•••• P••••••• V•• L•••• i• o••• •••••••••
  • DerivedN• c••••••••• t• t•• n•• f••• a•••••• o• t•• p••••• f•••••• y•••
Why it matters

This allocator committed to the prior fund of a series that now has a successor fund. Existing LPs are the first calls in any raise, so this is the re-up list for the GP, and for a competing GP it shows whose capital may be in play.

Who this is for

GPs raising a successor fund, placement agents, and competing GPs in the same strategy.

Can you reach them

Decision maker identified; on file: LinkedIn.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.
Allocators · Re-upWindow to Sep 2027

C••••••••• S•••• T•••••••• R••••••••• S•••••

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedC••••••••• S•••• T•••••••• R••••••••• S••••• h•••• N•• E••••••••• A••••••••• 1• a•• t•• m•••••••• n••• f••• i• t••• s•••••• N•• E••••••••• A••••••••• 1•• L•••• i• o••• •••••••••
  • DerivedN• c••••••••• t• t•• n•• f••• a•••••• o• t•• p••••• f•••••• y•••
Why it matters

This allocator committed to the prior fund of a series that now has a successor fund. Existing LPs are the first calls in any raise, so this is the re-up list for the GP, and for a competing GP it shows whose capital may be in play.

Who this is for

GPs raising a successor fund, placement agents, and competing GPs in the same strategy.

Can you reach them

Decision maker identified; on file: LinkedIn.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.
Allocators · Re-upWindow to Sep 2027

C••••••••• S•••• T•••••••• R••••••••• S•••••

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedC••••••••• S•••• T•••••••• R••••••••• S••••• h•••• S•••• C•••••• F••• V••• a•• t•• m•••••••• n••• f••• i• t••• s•••••• S•••• C•••••• I•• L•••• i• o••• •••••••••
  • DerivedN• c••••••••• t• t•• n•• f••• a•••••• o• t•• p••••• f•••••• y•••
Why it matters

This allocator committed to the prior fund of a series that now has a successor fund. Existing LPs are the first calls in any raise, so this is the re-up list for the GP, and for a competing GP it shows whose capital may be in play.

Who this is for

GPs raising a successor fund, placement agents, and competing GPs in the same strategy.

Can you reach them

Decision maker identified; on file: LinkedIn.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.

What matters now

  1. 6
    re-up prospects

    6 re-up prospects were flagged in the last twelve months: managers it backed raising a successor fund.

    Managers it already backs are raising again; a re-up decision is coming.

    Inferencea successor fund observed for a manager the plan backsRe-up prospects →

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
California State Teachers' Retirement System
Funds committed to
All 169
Managers
All 60
Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$373B
Fiduciary net position, Jun 30, 2025 reported
Funded
not on record
not filed
Private markets target
35.0%
policy Jun 30, 2025
Commitments
476
115 managers on Schedule C
Divisions and programs: Calstrs Cash Balance Benefit Program
Allocation policy
ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Cash/LiquidityCash2.0%0% to 5%2.8%+0.8reported calstrs.com
Fixed IncomeFixed income13.0%8% to 18%12.0%-1.0reported calstrs.com
Risk Mitigating StrategiesHedge / diversifiers10.0%5% to 15%7.3%-2.7reported calstrs.com
Strategic OverlayHedge / diversifiers0.0%0.1%+0.1reported calstrs.com
Collaborative StrategiesOther0.0%0% to 5%1.8%+1.8reported calstrs.com
Private EquityPrivate equity14.0%9% to 19%15.1%+1.1reported calstrs.com
Public EquityPublic equity40.0%32% to 48%41.2%+1.2reported calstrs.com
Inflation SensitiveReal assets6.0%1% to 11%6.9%+0.9reported calstrs.com
Real EstateReal estate15.0%10% to 20%12.8%-2.2reported calstrs.com
Policy periods on the tape: Jun 30, 2025 (ACFR), Jun 30, 2024 (ACFR). Target changes between periods are on the what changed list.
Consultants and advisers
No adviser relationship is on the tape for this allocator. Public systems name theirs in the ACFR; plans list them on Schedule C.
People
1 role
Chief investment officer
Scott Chan
Chief Investment Officer (Jun 30, 2025) calstrs.com
SCOTT CHAN LISA BLATNIK JULIE UNDERWOOD BRIAN J. BARTOW Chief Investment Officer
    Manager roster
    60 managers on the commitment tape
    From the plan’s own commitment disclosures

    +57 more managers received commitments

    Every name, record and relationship behind this count, with the source on each.

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    What changed
    496 events
    • Sep 24, 2026re up prospect resolvedreport dateinference
      Re-up prospect for Blackstone Life Sciences VI - B L.P.: condition no longer holds; not judged
      with Blackstone Life Sciences Advisors L.L.C.no URL
    • Sep 23, 2026re up prospect resolvedreport dateinference
      Re-up prospect for Spark Capital Growth Fund VI-A, L.P.: condition no longer holds; not judged
      with Spark Capitalno URL
    • Sep 23, 2026Re-up prospectreport dateinference
      California State Teachers' Retirement System holds ARCH Venture Fund VI, L.P. ($30M); the manager is raising: ARCH Venture Fund XIV, L.P. (fundraising, seen 2026-09-23); no commitment to it on the graph; 7 fund(s) of the series between them not held either
      with Arch Venture Partnersno URL
    • Sep 23, 2026re up prospect resolvedreport dateinference
      Re-up prospect for Spark Capital Growth Fund VI, L.P.: condition no longer holds; not judged
      with Spark Capitalno URL
    • Sep 23, 2026re up prospect resolvedreport dateinference
      Re-up prospect for Francisco Partners VIII, L.P.: condition no longer holds; not judged
      with Francisco Partnersno URL

    +491 more dated events

    Every name, record and relationship behind this count, with the source on each.

    Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

    Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
    Commitments
    477 rows, 0 dated closings
    DateFundManagerBucketAmountVintageStatusSource
    as of Jun 30, 2025Blackstone Capital Partners V L.P.Blackstone Management Partners L.L.C.Private equity$1.6B2006Disclosed holdingcalstrs.com
    as of Jun 30, 2025TPG Partners V, L.P.TPG Global Advisors, LLCPrivate equity$1.0B2006Disclosed holdingcalstrs.com
    as of Jun 30, 2025AlpInvest C Fund II LPAlpinvest US Holdings, LLCPrivate equity$1.0B2021Disclosed holdingcalstrs.com

    +474 more commitments

    Every fund and manager this allocator committed to, with the amount, date and source on each.

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    Size and funding
    40 readings
    Total assets
    $379B Jun 30, 2024 derived Census ASPP
    $347B (2023-06) · $330B (2022-06)
    Fiduciary net position
    $373B Jun 30, 2025 reported ACFR
    $341M (2024-06) · $300B (2022-06)
    Long-term investments
    $378B Jun 30, 2024 reported Census ASPP
    $330B (2022-06)
    Total pension liability
    $408B Jun 30, 2024 derived Census ASPP
    $69B (2022-06)
    Discount rate
    7.10% Jun 30, 2024 reported Census ASPP
    7.10% (2022-06)
    Participants
    1,040,000 Jun 30, 2024 derived Census ASPP
    1,002,000 (2022-06)
    Active members
    467,000 Jun 30, 2024 derived Census ASPP
    449,000 (2022-06)
    Beneficiaries
    333,000 Jun 30, 2024 reported Census ASPP
    326,000 (2022-06)
    Benefits paid
    $19B Jun 30, 2024 reported Census ASPP
    $17B (2022-06)
    Investment expense
    $462M Jun 30, 2024 reported Census ASPP
    $494M (2022-06)
    Provenance
    Identifiers: Census PID6 225913
    Cross-graph: private equity LP tape (cited), venture LP tape (cited)
    First observed Sep 15, 2026, last observed Sep 29, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

    Not yet on record: funded ratio.

    Across the graphs

    California State Teachers' Retirement System is the same institution as 1 record in Venture Capital.

    Venture Capital1

    The joined record opens with the product, beside every other relationship on this page.

    Checking your plan…

    Capital chain

    California State Teachers' Retirement System sits on 1379 traced paths of capital across the graphs.

    Allocator to PE fund to manager to companyAllocator to credit manager to facility to borrowerConsultant to allocator to manager

    DFX traced 1,379 paths of capital through this record

    Every record on each path, what it committed or lent, and as of when.

    Includes 3 days of DFX Intelligence. Then $299/month unless canceled.

    Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

    Checking your plan…

    Record history

    499 dated events on the change ledger, latest first
    • Re up prospect resolved
      2026-09-24
    • Re up prospect resolved
      2026-09-23
    • Re up prospect
      2026-09-23

    +496 more changes on this record's ledger

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    The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

    ›Connections

    every published relationship on the graph

    +536 connections on the graph

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