California Public Employees' Retirement System's strategic real estate plan, which could affect some money managers' contracts with the fund, might be ready as early as November, said David Gilbert, the fund's new senior real estate officer.
Mr. Gilbert told the fund's real estate committee this week he had visited 10 of the fund's money managers and would visit the remainder by the end of September. The subcommittee had considered actions against some of its firms, but members couldn't agree on what action to take and asked Mr. Gilbert for a plan that would include recommendations. Earlier this year, consultants and staff of the $100 billion Sacramento-based fund had put together a list of managers that put some on termination, watch and hold lists.
