California Public Employees’ Retirement System (CalPERS) has approved $2.7bn (€2.4bn) in new real assets commitments across real estate and infrastructure, according to a board meeting document.
CalPERS committed $500m to the Pan European Student Living Partnership I, managed by Global Student Accommodation.
It also allocated $500m to Greystar Equity Partners XII, a US value-add and opportunistic strategy targeting $2.5bn with a $3bn hard cap, alongside $250m for a co-investment sidecar fund.
The pension fund backed the Global Infrastructure Partners Transition Fund A/B with a $500m commitment, supporting a $10bn targeted capital raise focused on energy transition assets.
CalPERS also committed $500m to Sapphire Quail Infrastructure Partners, managed by Macquarie Asset Management.
Also, CalPERS made a $125m commitment to Vesta Co-Invest, managed by Harbert Management Corporation for power and energy assets, and made a $250m investment into the Brookfield Infrastructure Co-Invest.
The pension fund also made two commitments totaling $77m to Concession Investment Holdings, managed by IFM Investors.
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