Carlyle AlpInvest, a leading global private equity investor, and the California State Teachers’ Retirement System (“CalSTRS”), announced a partnership to broaden access to climate-related co-investment opportunities that demonstrate positive contributions to a more sustainable global economy. This partnership is designed to expand CalSTRS’ ability to invest alongside private equity managers in climate solution opportunities beyond CalSTRS’ direct investment program.

The collaboration brings together Carlyle AlpInvest’s co-investment platform with CalSTRS’ Sustainable Investment and Stewardship Strategies team to invest in opportunities that support both long-term value creation and further CalSTRS’ sustainable investment objectives.

“We are excited to work with CalSTRS’ Sustainable Investment and Stewardship Strategies team to expand access to co-investment solutions with a focus on climate,” said Todd Ruggini, Partner and Managing Director on the Co-Investments Team at Carlyle AlpInvest. “This effort builds on our long-term relationship with CalSTRS as well as our experience sourcing, underwriting, and executing transactions that meet the evolving needs of large investors.”

“Partnering with Carlyle AlpInvest will help add the scale and execution expertise needed to advance our investment objectives,” said Nick Abel, Portfolio Manager of CalSTRS Sustainable Investment and Stewardship Strategies. “This collaboration aligns with our long-term outlook and mission to provide a secure retirement for California’s public educators and their beneficiaries. The collaboration enhances the way we access opportunities to further position CalSTRS as a global partner of choice and supports our commitment to delivering financial results alongside positive sustainability outcomes.”

The initiative will seek to identify climate-related opportunities that demonstrate positive sustainability outcomes across a range of themes. The approach is rooted in a flexible, intent-based framework designed to reflect a wide spectrum of global opportunities.

“Carlyle AlpInvest is focused on building partnerships with investors that deliver long-term value and supporting their sustainable investment objectives,” said Maaike van der Schoot, Head of Responsible Investment at Carlyle AlpInvest. “This effort reflects that focus and builds on our long-standing commitment to responsible investment and helping partners pursue investment strategies that drive positive, strategic outcomes.”

Source: Carlyle AlpInvest