Rudd tells GlobeSt.com that their role is to help analyze real estate opportunities brought to CalSTRS. He says Granite Partners is one of nine groups hired to be the "eyes and ears" of CalSTRS' real estate investments.
CalSTRS currently is the third largest pension fund in the US. Its $100.8-billion investment portfolio includes $5.2 billion in real estate investments. Rudd says the fund plans to increase the real estate allocation by several billion dollars in the next couple of years. Williamson says the role is new for CalSTRS and part of an initiative to seek more outside advice on its investments. As for Granite Partners, Rudd confides the plum assignment is the realization of a goal set by the company to enhance the advisory end of its business as a complement to its transactional and financing practices.
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