Risky Business at CalSTRS

CalSTRS, the giant State Teachers' Retirement System, is shifting $11 billion, or 7.8% of its $140 billion portfolio to riskier investments in high-rise and industrial development, as well as "fast-growing startup companies" and private equity. The hope is to close a current long-term gap of about $20 billion in liabilities. CalSTRS: your new angel investor! Full story