A US private equity firm is selling off its stakes in the firearms company that made the AR-15 rifle that was used to shoot dead 20 children in a Connecticut primary school last week.
Cerberus Capital Management said on Tuesday it was preparing to sell off its investment in gunmaker Freedom Group following mounting pressure from California's teachers' pension funds.
Cerberus, which manages more than $20bn (£12bn) of investments, said Adam Lanza's massacre of 20 children and six adults was a "watershed moment" that had raised the debate on gun control to an "unprecedented level".
The investment fund said it was not its role to enter the debate but added: "There are, however, actions that we as a firm can take."
"Accordingly, we have determined to immediately engage in a formal process to sell our investment in Freedom Group. We will retain a financial adviser to design and execute a process to sell our interests in Freedom Group, and we will then return that capital to our investors," it added.
"As a firm, we are investors, not statesmen or policymakers. Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals. It is not our role to take positions, or attempt to shape or influence the gun control policy debate. That is the job of our federal and state legislators."