CalPERS seeks real estate consultants
CalPERS is seeking consulting firms for a dedicated real estate Spring-fed pool, the first competitive selection process since 2003, with five-year contracts to begin in July next year.
CalPERS is seeking consulting firms for a dedicated real estate Spring-fed pool, the first competitive selection process since 2003, with five-year contracts to begin in July next year.
CalPERS’ approach to improving portfolio returns by engaging management of poorly performing companies to rethink governance and strategy has had a substantial endorsement, with analysis by Wilshire Associates demonstrating that the fund has had a dramatic effect on the performance of the companies placed on its Focus List.
Global Retail Investors (GRI), a joint venture between the $188 billion CalPERS and First Washington Realty has bought a large portfolio of shopping centres from Macquarie CountryWide Trust, a realestate portfolio the joint venture largely sold to Macquarie nearly five years ago.
The full board of administration and the executives of CalPERS are conducting a three-day offsite, entitled Defining Our Future Now, which includes a number of closed sessions regarding chief executive and chief investment officer performance and employment matters, in addition to open forums on a number of strategic investment decisions.
A battle has broken out between investors and suppliers over the regulation of hedge fund and private equity managers, with opposing testimony given to the US Senate by the country’s largest pension fund, the $180.9 billion CalPERS, and a US-based venture capital firm. In this “Have Your Say” column we ask you whether you agree
America’s two largest pension funds both lost around a quarter of their market value in the fiscal year ended June 30, in what was the biggest ever single year decline for CalPERS.
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