SACRAMENTO, Calif. (AP) — The nation's largest teachers' pension fund announced Tuesday that it was reviewing all its firearms holdings after one investment with ties to last week's Connecticut school massacre slipped through the pension's own ethics review.
The California State Teachers' Retirement System, which manages $155 billion in assets, was looking at whether its investments comply with the fund's own social and ethical standards. The fund was found this week to have invested $600 million in the private equity firm Cerberus Capital Management, which owns gun maker Freedom Group International.
Cerberus announced Tuesday it will sell its holdings in the manufacturer of the military-style rifle used to kill 20 schoolchildren and six adults at Sandy Hook Elementary School in Newtown, Conn.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
