realestate

CalPERS invests $1.4 billion in real estate portfolio expansion

Pension fund invests in real estate partnerships and a dedicated fund.

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alPERS has made significant investments in US real estate, committing a total of $1.4bn to four new partnerships. The pension fund's board meeting document reveals the details of these commitments.

    A major allocation was made to TechCore, a technology-focused real estate partnership managed by GI Partners, with CalPERS investing $500m into this $2.9bn venture. Additionally, the pension fund committed $440m to the IDR Core Property Trust Index Fund, which tracks the NFI-ODCE Index.

    CalPERS also targeted affordable housing investments through a commitment of $400m to Affordable Housing Institutional Partners. Furthermore, the pension fund invested $70m in Global Retail Investors, a necessity retail real estate investment venture managed by First Washington Realty that has generated a 6.3% total return for CalPERS over the past decade.

    These new commitments demonstrate CalPERS' ongoing efforts to diversify its portfolio and achieve strong returns through strategic investments in US real estate.

CalPERS invests $1.4 billion in California real estate portfolio expansion project.