Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, US
AUM: $482.9 billion
Allocation to real estate: 11.9%
California Public Employees’ Retirement System proposed new policy changes for its real assets portfolio during its recent investment committee meeting.
CalPERS has proposed a strategic plan to update classifications to combine value-add and opportunistic into a single non-core classification. The proposed allocation would target 75 to 100 percent for core real estate and 0 to 25 percent for non-core real estate.
The US pension fund also announced increase commitments of $750 million to Pacific Multifamily Investors and $600 million to TechCore.
The $482.9 billion pension fund has a current allocation of 11.9 percent to private real estate.
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