California Public Employees’ Retirement System committed an additional $500 million to a real estate venture with China Investment Partners, confirmed CalPERS spokeswoman Rosanna Westmoreland in an e-mail.
Ms. Westmoreland said the commitment is an add-on to a separate account the $305.7 billion retirement system created in 2012.
“Staff is using the appropriated and delegated authority to hold long-term high-quality income producing commercial and office space for the long-term,” she said.
China Investment Partners is part of ARA Asset Management.
