Investors - SEPTEMBER 15, 2016

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CalPERS commits $1.32b to real estate

by Jody Barhanovich

The $285 billion California Public Employees’ Retirement System has committed $1.32 billion to real estate, according to a recent transaction report.

CalPERS committed $500 million to ARA China Investment Partners, managed by ARA Asset Management Ltd. ARA China will target investments in high-quality office buildings in central business districts and retail malls in well-located, densely populated suburbs of first- and second-tier cities in China. The pension fund also committed $300 million to the firm’s ARA China Long Term Hold fund in September 2015 and previously committed $300 million in August 2013.

The pension fund also committed $320 million to Pacific Multifamily Investors, a joint venture with Palo Alto, Calif.–based Pacific Urban Residential. Pacific Multifamily will invest in class B multifamily properties in the western United States. CalPERS committed $210 million to the fund in February 2015, with an additional commitment of $3

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