SACRAMENTO, Calif. (AP) — The nation's largest teachers' pension fund announced Tuesday that it was reviewing all its firearms holdings after one investment with ties to last week's Connecticut school massacre slipped through the pension's own ethics review.
The California State Teachers' Retirement System, which manages $155 billion in assets, was looking at whether its investments comply with the fund's own social and ethical standards. The fund was found this week to have invested $600 million in the private equity firm Cerberus Capital Management, which owns gun maker Freedom Group International.
Cerberus announced Tuesday it will sell its holdings in the manufacturer of the military-style rifle used to kill 20 schoolchildren and six adults at Sandy Hook Elementary School in Newtown, Conn.
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