The California Public Employees Retirement System (CalPERS), the nation’s largest pension fund with more than $463B in assets, has invested $1.85B in two CRE debt funds.

CalPERS disclosed in a meeting document that it has approved a $1.5B commitment to Blackstone Real Estate Debt Strategies V and it has placed $360M into Mesa West Real Estate Income Fund V, according to a report in IPE Real Assets.


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