REAL ESTATE - Swiss alternatives asset manager Partners Group said it had acquired the private real estate investment arm of US-based Pension Consulting Alliance (PCA). Financial details were not disclosed.

Partners Group said that as a result of the acquisition it would open a new San Francisco office in May from which the PCA arm would operate.

The business will be co-headed by Pam Alsterlind, chief operating officer of the PCA arm, and Claude Angéloz, director of real estate asset management at Partners Group.

Based in Baar-Zug, Partners Group is a specialist in alternative asset classes, including private equity, hedge funds, private debt, private real estate and infrastructure funds.

It has CHF17bn(€10.5bn) under management for institutional investors, including pension funds.