Transactions - JUNE 30, 2015

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

Sign in Start Your Free Trial Now View Purchase Options

CalPERS to sell up to $3b in real estate assets

by Zoë Wolff

The California Public Employees’ Retirement System has announced it is planning to sell up to $3 billion of its real estate investment portfolio.

As the $301.4 billion pension fund implements its plans to cut costs, assets that no longer align with the strategic goals of the real estate program will be part of the portfolio being offered.

“The sale of these assets represents the continued effort to reduce costs, risk and complexity across the CalPERS fund,” said Paul Mouchakkaa, senior investment officer for real assets, in a statement. “For the Real Estate Program it will enable us to invest in assets and managers that are more aligned with our current strategy.”

The sale of these assets is the first part of the new plan that will reduce the number of external real estate managers from 51 to 15.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy