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April 06, 1993|From Times Staff and Wire Reports

Teachers' Pension Money Stays in State: The $45-billion pension fund for California teachers will invest $75 million in a "California-only" venture capital partnership. State Treasurer Kathleen Brown called it the first investment by a state public pension fund to specifically target California businesses. But analysts said it would have little practical effect, as the teachers' fund already has more than $1 billion committed to venture capital programs, and most such opportunities are in California.

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