California Public Employees' Retirement System, Sacramento, committed $152 million to real estate fund HCB Interests II and $4 million to TPG Hospitality Investments IV, according to information on the $234.3 billion fund's website.
HCB Interests II, managed by Hines, was formed in February 2007 to develop and acquire institutional-quality property in Brazil.
TPG Hospitality is managed by The Procaccianti Group, which owns, develops and manages U.S. hotels.
