December 17, 2012 / 9:05 PM / 7 years ago

CalSTRS says reviewing private equity gun investment

NEW YORK, Dec 17 (Reuters) - The California State Teachers’ Retirement System (CalSTRS) said on Monday it was reviewing its investment in Cerberus Capital Management LP, the private equity firm that controls Bushmaster Firearms International, in light of the Newtown school shooting.

“At this point our investment branch is examining the Cerberus investment to determine how best to move forward given the tragic events of last Friday in Newtown, Connecticut,” Ricardo Duran, a spokesman for the public pension fund manager, said in an email.

CalSTRS had invested $751.4 million with Cerberus by the end of March 2012, according to its website. Cerberus owns Freedom Group Inc, which includes Bushmaster, the manufacturer of the AR 15 rifle used by the shooter in the Newtown killings.

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