U.S. pension fund CalSTRS invests $100 million with Red Mountain

April 21, 2015 7:06 PM

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BOSTON, April 21 (Reuters) - The California State Teachers' Retirement System (CalSTRS), the second-largest U.S. public pension fund, made a $100 million investment with hedge fund Red Mountain Capital Partners earlier this year, three sources familiar with the matter said.

The investment raises the Los Angeles-based activist hedge fund's total assets to $500 million, and gives it a credibility boost at a time activism is attracting both fresh capital and new players, industry analysts said.

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