A conversation with $300B CalSTRS CIO Christopher Ailman, one of the world's largest institutional investors

Welcome back to the Alt Goes Mainstream podcast.

Today’s show was recorded live from AltsLA 2023 in partnership with CAIA. CAIA is the leading global professional body dedicated to alternative investment credential programs.

On this episode, we speak with Christopher Ailman, the Chief Investment Officer of one of the world’s largest institutional investors, CalSTRS.

Chris and I had a fascinating conversation about all things private markets. We discussed: 

• How one of the world’s largest institutional investors manages a portfolio with 40% exposure to private markets.
• How many institutional investors are really managing an 80/20 portfolio (80% equity / equity-like, 20% fixed income / fixed income-like), not a 60/40 portfolio.
• The current state of private markets.
• Why alternative investments make sense in an investors’ portfolio.
• The importance of “catching the wave” and investing in megatrends, like decarbonization.
• How the retailization of alts impacts institutional investors like large pensions and endowments.

He leads an investment staff of more than 200 and oversees a portfolio valued at $307 billion as of March 31, 2023.

He has more than 37 years of institutional investment experience, including tenures as CIO of the Washington State Investment Board and the Sacramento County Employees Retirement System.

He represents institutional investors on the MSCI Index Editorial Advisory Board, the PRI Asset Owners Advisory Committee, the Sustainability Accounting Standards Board (SASB) Investor Advisory Group and the Toigo Foundation.

He is the chair of the 300 Club and co-chair of the Milken Global Capital Markets Committee. Ailman is recognized as one of the top CIOs both in the U.S. and globally. He has received numerous awards and recognitions, including the Institute for Fiduciary Education’s CIO of the Year in 2000.

Thanks Christopher for coming on the Alt Goes Mainstream podcast to share your views and knowledge.