CalPERS is increasing its real estate investments
Real estate has risen to 9.9% of investments for the California Public Employees’ Retirement System, up from 8.7% as of July 31, according to documents. The largest U.S. pension fund plans to increase that to 11% in fiscal year 2016. Its focus is on fully leased office towers and multifamily properties in large cities, which CalPERS says are safer investments than some of its precrisis real estate holdings. The Wall Street Journal (tiered subscription model) (10/7), Bloomberg (10/7)
