California Treasurer urges CalSTRS divestment from assault weapon manufacturer

Wed Apr 1, 2015 1:03pm EDT
 
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April 1 (Reuters) - California State Treasurer John Chiang sent a stern letter to the state's teachers' pension fund on Wednesday, asking that the fund's managing partner, Cerberus Capital Management, fully divest from the assault weapon manufacturer, Freedom Group.

Chiang said he was frustrated that the manufacturer of the assault weapon used in the killing of 20 children and seven adults at Sandy Hook Elementary School was still indirectly financed by the California State Teachers' Retirement System.

Chiang asked that Cerberus' leadership attend CalSTRS' Investment Committee meeting on Friday "to explain why the Freedom Group remains in its portfolio." (Reporting By Robin Respaut; Editing by Jonathan Oatis)