Searches and Hires

CalPERS allocates $6.6 billion to real assets, private equity in July

CalPERS made $6.6 billion in investments or commitments under delegated authority in July, mainly for real assets, a report to the board of the $360 billion pension fund shows.

The California Public Employees' Retirement System, Sacramento, committed $1.1 billion to CommonWealth Partners for a core office portfolio and $38 million to CommonWealth Partners for a value-added office portfolio, according to spokeswoman Megan White in an email and information in the report.

CalPERS committed $607 million to Golden Reef Infrastructure Trust, a separate account managed by infrastructure manager QIC.

Pension fund officials also committed $1.16 billion to GID Investment Advisers to invest in apartments. CalPERS declined to provide further information on the two mandates.

It committed $618 million to GI Partners for logistics portfolios and an additional $352 million to a partnership with GI Partners investing in technology-related properties.

CalPERS committed $517 million to Institutional Logistics Partners, a corporation CalPERS formed with real estate manager Bentall Kennedy to invest in core industrial properties.

Pension fund officials also committed $517 million to First Washington Realty to invest in neighborhood and community shopping centers.

The pension plan also committed $552 million to Miller Capital Advisory to invest in malls.

In private equity, CalPERS committed $400 million to Welsh, Carson, Anderson & Stowe XIII, which invests in North American health-care and information technology companies.

It also committed $377 million to Pacific Multifamily Investors, an apartment strategy managed by Pacific Urban Managers.

CalPERS also committed $296 million to Institutional Housing Partners. It also committed another $43 million to Whitney Ranch Venture, a portfolio also managed by Institutional Housing Partners. Further information on the IHP portfolios could not be learned.

Most of the real assets portfolios are existing relationships for CalPERS, but officials declined to provide further information, including the sizes of the previous investments with each manager.