CalPERS Allocation to Canyon Partners Hits $1B
The California Public Employees’ Retirement System (CalPERS) expanded its existing relationship with Canyon Partners Real Estate. The public pension allocated $350 million of new capital to the Canyon Catalyst Fund (CCF), a real estate emerging manager program. The cumulative capital committed by CalPERS since 2012 now equals $1 billion.
CalPERS Paul Mouchakkaa says, “Our partnership with Canyon Partners Real Estate is off to a strong start, and has added value to CalPERS’ Real Estate portfolio. CalPERS’ longstanding commitment to emerging managers is reflected in our expanded investment with Canyon.”
CCF currently invests in office, retail, industrial, multifamily, and mixed-use projects in urban markets across California, with investments in 27 assets across the state. While remaining committed to investing in California, CCF will expand its geographic focus to the Phoenix, Seattle, and Portland metro areas, and expects to add investments in the self-storage and student housing sectors.
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