The California State Teachers’ Retirement System (CalSTRS) has awarded a new mandate, Pensions & Investments reports. The retirement system has appointed activist hedge fund, Trian Fund Management. The firm, which is run by Nelson Peltz, will manage a $300 million investment from the pension fund. New York-based Trian Fund Management buys large minority stakes in U.S. companies and then pushes for operational changes to create long-term value.

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