Pension fund also plans to hire more REIT managers. : California State Teachers Retirement System (CalSTRS) is planning to partner with other large institutional investors to undertake major real estate deals, the $226bn (€201bn) pension fund disclosed as part of its business plan for the new fiscal year. CalSTRS, which holds a $32bn real estate portfolio, said such joint ventures could help facilitate transactions that are too large and complex to be completed on its own. They could include domestic or international investments in single assets, portfolios or operating companies.