SO
LP profile
STRS Ohio
Pension fund · Founded 1920 · Columbus, United States
183
VC firms backed
$95B
AUM
~$1.9B
Allocated to VC (est. 2%)
01 · Background
Who STRS Ohio is.
- Historical Background
- The State Teachers Retirement System of Ohio (STRS Ohio) was established in 1919 through legislation, becoming the first statewide teacher retirement system in the United States to be based on actuarial principles. It began operations in 1920 and is a legally separate and fiscally independent entity from the state government of Ohio.
- Source of Capital
- STRS Ohio is a defined-benefit plan that provides retirement security for public educators across Ohio. The system's capital is derived from contributions made by its members (active teachers), their employers (school districts), and the investment returns generated from its portfolio.
- Major Events
- The STRS Ohio board has recently been the subject of legislative changes, altering its composition to give more control to appointed officials following internal disputes over investment strategy and management. In 2024, the board approved a new benefits package that includes a cost-of-living adjustment for retirees.
- Allocation Strategy
- STRS Ohio manages a diversified portfolio across various asset classes, including domestic and international equities, fixed income, real estate, and alternative investments. The fund's real estate strategy for fiscal year 2025 involves focusing on direct investments in the apartment and industrial sectors while planning to decrease exposure to office properties. The system has outlined plans to commit capital to funds with an international real estate focus. There is an ongoing public debate among board members and stakeholders regarding the fund's investment approach, particularly concerning the balance between active and passive management and the consideration of novel investment strategies.
02 · Fund commitments
The funds STRS Ohio backs.
STRS Ohio is a limited partner in 183 funds. 19 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
New Enterprise Associates
#8 Power Law
General Catalyst
#13 Power Law
Redpoint
#42 Power Law
Bain Capital Ventures
#44 Power Law
Menlo Ventures
#75 Power Law
Wellington Management
#80 Power Law
Dragoneer Investment Group
#125 Power Law
ICONIQ Capital
#130 Power Law
ICONIQ Growth
#136 Power Law
Foundation Capital
#155 Power Law
TPG
#158 Power Law
Summit Partners
#168 Power Law
Luminous Ventures
#371 Power Law
AEW Invest
AlbaCore Capital
Apax Partners
Appleby
ArchiMed
ArchiMed
Arcmont Asset Management
Athenian Venture Partners
Audax Private Equity
Axiom Asia Private Capital
Benson Elliot Capital Management
Bridgepoint
Capital Fund Management
Carlyle Cardinal Ireland - CCI
CLSA Capital Partners
GreenOak Real Estate
Hermes GPE
Meritage Funds
PAG
Quadrant Private Equity
Securord Capital Japan
Sunrise Capital Partners
03 · Allocation
How STRS Ohio’s fund book is spread.
The 183 funds STRS Ohio backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters, across the 179 of 183 with a location on record.
- North America 14782%
- Europe 2413%
- Rest of world 84%
United States 144 · United Kingdom 14 · Canada 3 · France 3
How established those managers are
Managers grouped by how many funds they have raised — across the 120 of 183 with a fund history on record.
Emerging funds · 36
Established funds · 84
19
1
7
2
10
3
8
4
16
5-6
28
7-9
19
10-14
13
15+
Funds raised by the manager
05 · Direct investments
The companies STRS Ohio backs directly.
STRS Ohio holds 3 companies directly, separate from the funds it commits to as a limited partner.
Kiniksa Pharmaceuticals
$5.4B valuation
Unicorn
Warner Bros Discovery
$96B valuation
Decacorn
Manhattan Associates
$11B valuation
Decacorn
06 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to STRS Ohio by combined power-law score — North America first, then the nearest worldwide.
🇺🇸
Agilent Technologies Deferred Profit-Sharing Plan
$141M AUM
24 VC funds backed
🇺🇸
Agilent Technologies Retirement Plan
$1.8B AUM
24 VC funds backed
🇺🇸
HP Pension Plan
$5.2B AUM
23 VC funds backed
🇺🇸
Sidley Austin Master Pension Trust
$1.1B AUM
43 VC funds backed
🇺🇸
UPMC Master Trust
31 VC funds backed
🇺🇸
National Automatic Sprinkler Industry Pension Fund
$1.7B AUM
57 VC funds backed
🇺🇸
State of Michigan
$96B AUM
55 VC funds backed
🇺🇸
State of Michigan Retirement Systems
$100B AUM
49 VC funds backed