Skip to content
Subscriber Only

Lockyer Urges California Pensions to Sell Firearms Stocks

California Treasurer Bill Lockyer said he’ll propose that the state’s public pension funds, the two largest in the U.S., sell off investments in firearm manufacturers that make guns prohibited under state law.

The California State Teachers’ Retirement System, known as Calstrs, with $155 billion of assets, has a stake in Cerberus Capital Management LP, a private equity firm that owns Freedom Group, the maker of the Bushmaster .223-caliber semiautomatic rifle that police said was the primary weapon in the Dec. 14 shootings that killed 20 elementary school children in Newtown, Connecticut.