Calstrs Investment Chief Calls for Fair Wealth Distribution in Private Equity

Calstrs‘ investment head, Christopher Ailman, urges private equity executives to share wealth with workers and communities, not just top executives. He emphasizes the need for a fair distribution of revenues and benefits for employees and communities impacted by private equity investments.

Ailman expresses concern over the industry’s growing influence and calls for increased responsibility and transparency. Calstrs, a major pension fund, has faced scrutiny for its investments with Blackstone, particularly regarding a sanitation business accused of child labor violations.

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Calstrs on revenue sharing

Ailman urges private equity firms to address these issues and acknowledges the need for improved industry practices.

“Private equity has not shared enough revenues,” says Ailman in an interview with the Financial Times, who pioneered Calstrs’ move into private equity two decades ago and now holds $50bn in the asset class, in an interview with the Financial Times.

“It’s great they make money for our retirees — who are teachers and for other funds,” he says. “But they need to also share the wealth with the workers of those companies and with the communities they invest in.”