CalPERS' real estate subcommittee requested additional information from the fund's investment staff and consultant before it decides the fate of real estate managers that oversee almost $2 billion of property investments.
The subcommittee of the California Public Employees' Retirement System, Sacramento, wants additional information on CalPERS' acquisition process since inception, partial sales data, property transfer costs and timing, an evaluation of the capabilities of advisers and the effects of modifying adviser performance and other category weightings.
The committee also voted to extend the contracts of nine non-discretionary real estate advisers for 120 days from their June 30 expiration date.
