California Public Employees’ Retirement System (CalPERS) committed a total of $950m (€818m) across three real asset investments during the first quarter of 2026, according to a board meeting summary.
The pension fund committed $800m to Ares Management Corporation real estate strategies in March 2026, allocating $450m to Ares US Real Estate Fund XI and $350m to an affiliated co-investment sidecar.
As previously reported, Ares closed the value-add fund at its $3.1bn hard cap in early April, bringing total capital for the strategy to $3.5bn, including co-investment and general partner commitments.
CalPERS allocated $150m to Brookfield Infrastructure Co-Investment in January 2026 for its infrastructure portfolio, without disclosing further details regarding the transaction.
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