When CalPERS Moves, the Industry Notices

It’s no secret that the pension fund industry moves in lock step at times, an almost herd mentality, when it comes to real estate investing. There are a few clear leaders at the front of the pack, and their movements are considered a bellwether for the future.

That’s why the recent moves by the CalPERS are so significant. When America’s largest public pension plan, with $228 billion in assets under management, makes a move, and makes it very publicly, that’s something that rightfully draws attention. After all, CalPERS has more than $18 billion invested in global real estate, which is about 8% of its total investment portfolio.