Publications

Investors - SEPTEMBER 12, 2019

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

CalPERS to commit $3.1b to core separate account partnerships

by Kali Persall

The $356 billion California Public Employees’ Retirement System (CalPERS) has earmarked $3.1 billion for six of its core real estate separate accounts, a spokesperson from the fund confirmed.

The largest allocation of $750 million will be committed to Fifth Street Partners, a $4.1 billion joint venture with Commonwealth Partners that invests in office assets across the United States.

The second-largest commitment of $700 million will go to Institutional Multifamily Partners, a $4 billion core apartment partnership with GID Investment Advisors.

In addition, GRI, a partnership with First Washington Realty that invests in grocery-anchored shopping centers, is in line to receive $500 million.

CalPERS will also commit $400 million to a residential partnership with Pacific Urban Residential.

Lastly, two industrial partnerships with Bentall GreenOak and GI Partners have received commitments of $400 million and $350 million, respectively.

Last yea

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.