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Louisiana teachers do not invest in gun company

2 years ago December 18, 2012 Dec 18, 2012 Tuesday, December 18 2012 Tuesday, December 18, 2012 9:28:30 PM CST in News
By: Trey Schmaltz

BATON ROUGE- The retirement system for teachers in Louisiana said it does not invest money in a company tied to a gun manufacturer.

Questions about specific holdings surfaced in Louisiana, after one of the largest teacher retirement systems in the country, California State Teachers' Retirement System, announced it had invested in the company that built a gun used in the Newtown, CT, school shooting.

In California, the retirement system had invested in Cerberus Capital Management, a private equity firm. Cerberus owns gun maker Freedom Group International.  A Freedom Group International weapon was tied to Friday's school shooting.

Teachers Retirement System of Louisiana said it does not have a stake in Cerberus.

Since the massacre, Cerberus has announced it plans to sell the weapons business.

WBRZ News 2 requested information on other state retirements that might invest in Cerberus. Investment mangers agreed to share information, but had not gathered the information by our deadline.

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