Transactions - AUGUST 11, 2016

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CalPERS invests $250m in Asia Pacific real estate

by Andrea Waitrovich

The $302 billion California Public Employees’ Retirement System has plans to invest $250 million in an Asia Pacific property fund, managed by J.P. Morgan Asset Management.

The investment was completed under delegated authority in the real assets program area.

At the end of July, CalPERS reported its real estate portfolio failed to achieve its benchmark during the past 12 months, while infrastructure investments outperformed. The real estate underperformance was attributed to the sale of noncore assets, including stakes in pooled funds, as CalPERS moves to a more core-focused strategy.

In May 2015, the pension plan announced a $1 billion Asia Pa

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