California, Texas pension funds among new investors in EV startup Rivian

FILE PHOTO: A Rivian R1T pickup, the Amazon-backed electric vehicle (EV) maker, is driven outside the Nasdaq Market site during the company’s IPO in Times Square in New York City, U.S., November 10, 2021. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) - Seven state government employee pension funds including CalPERS, the largest U.S. pension plan, took stakes in electric vehicle startup Rivian Automotive Inc in the quarter that ended Dec. 31, according to securities filings released Monday.

The Teacher Retirement System of Texas, the California Public Employees Retirement System (CalPERS) and the Maryland State Retirement and Pension System were among the seven as well as pension funds for Utah, Colorado, North Carolina and Wisconsin, according to data from fund tracker WhaleWisdom.