CalPERS Eyes $6.3B in RE Investments


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Sacramento-based CalPERS currently holds about $27 billion in real estate assets.

SACRAMENTO—The California Public Employees’ Retirement System plans to commit $6.3 billion during the new fiscal year to real estate funds and joint ventures. The nation’s largest pension plan at $301 billion currently has real estate investments worth approximately $27 billion, according to CalPERS data.

Citing documents from its investment committee meeting, PERE reported Tuesday that CalPERS will allocate its real estate spend among a dozen existing managers. Among the largest allocations planned for fiscal 2015-2016 is $1.67 billion to Fifth Street Properties, a partnership with Los Angeles-based CommonWealth Partners targeting core, core-plus and value-added acquisitions and development in large-scale office and mixed-use properties across the US. CommonWealth also is the real estate manager for National Office Partners, an office-focused JV with CalPERS that is slated to receive an additional $101 million, PERE reported…

CalPERS Eyes $6.3B in RE Investments

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