California Teachers (CalSTRS) — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
California Teachers (CalSTRS) (California) reported $370.2bn of assets for fiscal year 2025, a one-year investment return of 8.5%, and was 76.7% funded — below the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $370.2bn |
| 1-year return | 8.5% |
| 5-year return (annualised) | 9.4% |
| 10-year return (annualised) | 8.1% |
| Funded ratio (GASB) | 76.7% |
Private-market managers California Teachers (CalSTRS) invests with
California Teachers (CalSTRS)'s disclosures name funds run by the private-market managers profiled here, each matched against that manager's own filings in CalSTRS private equity performance report. This is not California Teachers (CalSTRS)'s full manager roster — its public-market and in-house mandates are not shown.
- Blackstone — 19 funds matched in CalSTRS private equity performance report
- Summit Partners — 13 funds matched in CalSTRS private equity performance report
- Thoma Bravo — 13 funds matched in CalSTRS private equity performance report
- CVC — 12 funds matched in CalSTRS private equity performance report
- TPG — 12 funds matched in CalSTRS private equity performance report
- Permira — 9 funds matched in CalSTRS private equity performance report
- Carlyle — 8 funds matched in CalSTRS private equity performance report
- Centerbridge — 8 funds matched in CalSTRS private equity performance report
- Francisco Partners — 8 funds matched in CalSTRS private equity performance report
- KKR — 7 funds matched in CalSTRS private equity performance report
- OrbiMed — 7 funds matched in CalSTRS private equity performance report
- Peak Rock Capital — 7 funds matched in CalSTRS private equity performance report
- Sixth Street — 7 funds matched in CalSTRS private equity performance report
- Apollo Global Management — 5 funds matched in CalSTRS private equity performance report
- Bain Capital — 5 funds matched in CalSTRS private equity performance report
- Hellman & Friedman — 5 funds matched in CalSTRS private equity performance report
- Advent International — 4 funds matched in CalSTRS private equity performance report
- ICG — 3 funds matched in CalSTRS private equity performance report
- Providence Equity — 2 funds matched in CalSTRS private equity performance report
- Charterhouse Capital — 1 fund matched in CalSTRS private equity performance report
- Cinven — 1 fund matched in CalSTRS private equity performance report
- Genstar — 1 fund matched in CalSTRS private equity performance report
- Madison Dearborn — 1 fund matched in CalSTRS private equity performance report
- Oaktree — 1 fund matched in CalSTRS private equity performance report
- Vestar Capital — 1 fund matched in CalSTRS private equity performance report
How the money is invested (asset allocation)
California Teachers (CalSTRS) held 41.2% of its assets in public equities and 16.1% in hedge funds for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:
| Public equities | 41.2% |
| Hedge funds | 16.1% |
| Private equity | 15.1% |
| Real estate | 12.8% |
| Fixed income (bonds) | 12.0% |
| Cash | 2.8% |
Compare California Teachers (CalSTRS) with similar plans
The plans most worth reading California Teachers (CalSTRS) against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:
| Plan | Assets | 1-yr return | Funded ratio | Why comparable |
|---|---|---|---|---|
| Oregon PERS | $88.6bn | 7.5% | 73.2% | Backs 17 of the same managers |
| California PERF (CalPERS) | $563.0bn | 11.6% | 71.3% | Backs 16 of the same managers |
| New York City (NY) Police | $56.3bn | 9.3% | 85.5% | Backs 11 of the same managers |
| University of California | $110.8bn | 12.7% | 85.4% | Same state — California |
| LA County (CA) ERS | $86.2bn | 9.7% | 82.0% | Same state — California |
| San Francisco (CA) ERS | $37.5bn | 7.9% | 96.8% | Same state — California |
Questions this page answers
How much does California Teachers (CalSTRS) have in assets?
California Teachers (CalSTRS) reported $370.2bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did California Teachers (CalSTRS) make on its investments?
California Teachers (CalSTRS) reported a 8.5% one-year investment return for fiscal year 2025, and 8.1% a year over the past ten years, per the Public Plans Database.
Is California Teachers (CalSTRS) fully funded?
California Teachers (CalSTRS) was 76.7% funded for fiscal year 2025 — below the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).
How is California Teachers (CalSTRS)'s money invested?
California Teachers (CalSTRS) held 41.2% of its assets in public equities and 16.1% in hedge funds, its largest sleeves for fiscal year 2025 (Public Plans Database).
How have California Teachers (CalSTRS)'s private-equity funds performed?
California Teachers (CalSTRS) discloses fund-by-fund private-market returns — see them in the performance tool, each fund with its net IRR and multiple as California Teachers (CalSTRS) reports it.
See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.