CalSTRS Seeks Hedge Fund Consultant

Consultant Will Help CalSTRS Select and Monitor Managers for 3-Year Pilot
Project
WEST SACRAMENTO, Calif.--(Business Wire)--
The California State Teachers` Retirement System (CalSTRS) is seeking a
consultant to help select, monitor and assess hedge fund managers for a global
macro strategy the fund will be undertaking.

The final filing date for proposals is 2 p.m. PDT on April 29, 2010, with the
consultant selection expected by early summer. The Request for Proposal is
available for viewing on the CalSTRS Web site at www.calstrs.com/rfp.

The selected firm will help CalSTRS initiate, monitor and assess a global macro
hedge fund strategy for its new absolute return asset class. The strategy will
undergo an incubation period of not more than three years.

CalSTRS staff will work with the consultant to select three to six hedge fund
managers who will invest a $200 million commitment in global macro strategies.
Within the three-year period, the CalSTRS board will determine whether to expand
or terminate the strategy.

Some of the consultant`s duties will be to help CalSTRS:

* Develop, review and update investment policies, procedures and a program
structure.
* Develop a search strategy, identify highly qualified managers, and conduct due
diligence on managers and investments.
* Monitor managers with regular assessments, conduct account valuations,
identify problems and prepare quarterly reports.
* Conduct research and analysis on current issues and topics involving global
macro hedge funds.
* Provide training and workshops on global macro hedge fund topics for CalSTRS
staff and board members.

During the three-year period, the global macro hedge fund strategy will be part
of the innovation portfolio, which is charged with incubating new investment
opportunities outside the traditional asset classes that CalSTRS currently uses.
The purpose is to try out new investment strategies and to determine their
success before committing large dollar amounts to them.

The California State Teachers' Retirement System, with a portfolio valued at
$132.5 billion, is the second largest public pension fund in the United States.
It administers retirement, disability and survivor benefits for California's
848,000 public school educators and their families from the state's 1,400 school
districts, county offices of education and community college districts.

California State Teachers` Retirement System
Ricardo Duran, 916-414-1425
Newsroom@calstrs.com
www.CalSTRS.com

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