California Public Employees’ Retirement System has engaged Hines as its new manager of the Sacramento Venture real estate partnerships, which include the 301 Capitol Mall project.
“Hines is a longtime CalPERS partner and has a strong history of successfully developing real estate projects in Sacramento and the Bay Area,” said Marcie Frost, CalPERS CEO. “We look forward to working with them on 301 Capitol Mall. We’re committed to fulfilling our fiduciary duty to find the best investment path forward for this very important project.”
As of June 30, 2019, the CalPERS real estate portfolio had a market value of approximately $35 billion.
