SACRAMENTO, CA-The California Public Employees Retirement System (CalPERS) is considering an increase of $1 billion for its hard-dollar caps for new investments in the annual delegation limits for real estate.
The change in the limits is for the real estate base core portfolio from a $6 billion cap to a $7 billion cap, and the total real estate portfolio from a $7 billion cap to an $8 billion cap.
Ted Eliopoulos, acting CIO at CalPERS, wrote in a board-meeting document that the current dollar cap for new investments in the real estate programme could impede the investment staff's ability to act on new investment opportunities and thus restrict the growth of the asset class.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
