Investors - NOVEMBER 8, 2019

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CalSTRS reconfigures real estate, REIT investment portfolio

by Kali Persall

The $242 billion California State Teachers’ Retirement System is planning to bolster its investment in REITs and increase its target allocation to real estate, according to a recently released board meeting document.

In September, CalSTRS said it was considering alternatives for a new four-year asset allocation cycle beginning in January 2020. The pension fund said it would begin discussing alternative allocations, followed by a formal adoption of long-term asset allocations, which includes real estate.

The pension fund has earmarked up to $500 million for investment in publicly traded REITs through two managers, CenterSquare Investment Management and Principal Global Investors. CalSTRS’ investment team implemented a REIT investment st

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