California Public Employees Retirement System (CalPERS) has for the first time backed IDR Investment Management’s core index fund for the first time.

CalPERS disclosed in a meeting document that it had approved $500m (€498.8m) to IDR Core Property Index Fund, a fund that tracks the NCREIF Open-end Diversified Core Equity index.

The Core Index Fund, launched in 2018, had raised $4.2bn from institutional investors as of July of this year.

CalPERS declined a request for further comment. IDR did not respond to a request for comment.

CalPERS also disclosed in the meeting document that it made a $673m commitment to the DW Life Sciences Partners account. This is a follow-on commitment to an initial $500m allocation the pension fund made in November last year to the DivcoWest life science real estate partnership. DivcoWest didn’t respond to a request for comment.

CalPERS said it has added $847m to CalEast Solstice, an industrial real estate investment relationship with GI Partners and issued a $772m commitment to Institutional Logistics Partners, the pension fund’s existing US core industrial partnership with BentallGreenOak.

The pension fund issued $821m to Pacific Multifamily Investors managed by Pacific Urban Investors and $414m to Institutional Multifamily Partners run by GID.

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