- Ninety One announced that CalSTRS has awarded a $150m mandate to its Global Environment strategy.
- CalSTRS is the largest educator-only public pension fund globally.
- Ninety One manages $162 billion in assets as of June 30, 2024.
- The Global Environment strategy, a $4.2 billion strategy, focuses on decarbonization opportunities.
- Managed by Deirdre Cooper and Graeme Baker, the strategy emphasizes renewable energy, resource efficiency, and electrification.
- The investment provides exposure to long-term growth in decarbonization and aims for a positive environmental impact.
- Kirsty Jenkinson from CalSTRS stated the strategy aligns with their mission to secure financial futures while promoting sustainability.
- Sangeeth Sewnath of Ninety One highlighted the importance of investing in a changing world and the potential benefits for California’s educators.
- The partnership represents a significant step in building Ninety One’s presence in North America.
Ninety One’s Global Environment strategy awarded mandate from significant US asset owner
Ninety One announces that the California State Teachers’ Retirement System (CalSTRS) has awarded a $150m mandate to Ninety One’s Global Environment strategy.
15 Oct 2024
Ninety One, a global investment manager with $162 billion in assets under management (as of 6/30/24), today announced that the California State Teachers’ Retirement System (CalSTRS), the largest educator-only public pension fund in the world, has awarded a $150m mandate to Ninety One’s Global Environment strategy.
Managed by Deirdre Cooper, Head of Sustainable Equity, and Graeme Baker, Co-Portfolio Manager, the $4.2 billion strategy is a high conviction, concentrated global equity portfolio that provides exposure to the multi-decade structural growth opportunity from decarbonization, driven by the need to transition to net zero. The Strategy focuses on identifying businesses whose structural growth is driven by decarbonization across three key pathways: renewable energy, resource efficiency and electrification. Investing in decarbonization provides investors with leverage to long-term structural growth, a complementary return profile lowly correlated to peers, and positive environmental impact by financing companies that are solving the world’s environmental challenges.
Kirsty Jenkinson, Investment Director, CalSTRS: “Our mission is simple, to secure the financial future and sustain the trust of California’s educators. We believe that Ninety One’s Global Environment strategy aligns with our commitment to deliver financial performance while simultaneously creating positive sustainability outcomes.”
Sangeeth Sewnath, Managing Director, Americas, Ninety One: “As active investors, we believe it is vital to invest for a world of change. CalSTRS is a global leader in this space with an admirable commitment to sustainable investment and stewardship. Ninety One’s Global Environment strategy’s unconstrained and focused approach, combined with a long-term investment horizon and active engagement, is a powerful way to invest in decarbonization. It provides California’s educators with access to the structural tailwinds to participate in outperformance and real impact. This partnership is a meaningful step as we continue to build our footprint in North America.”
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