The $376 billion California Public Employees’ Retirement System is considering two finalists in its search for a real estate investment consultant, according to new documents released by the investment committee.
The board is considering current consultant Meketa Investment Group and RCLCO Fund Advisors for the real estate investment portfolio. Meketa’s contract began on April 1, 2017, and will expire on March 31, 2022.
RCLCO said it focuses on achieving investment returns through long-term investing in what will be in demand, not necessarily what has been in demand. The firm focuses on both property and capital markets, for a full range of property types.
Meketa will cost CalPERS $3.6 million over a period of three years, while RCLCO will cost $3.5 million, according to a scoring chart for the firms.
