SEATTLE-The California Public Employees’ Retirement System‘s recent $100-million ownership investment in Bentall Kennedy was a good fit for several reasons, Gary Whitelaw, the real estate investment advisory firm’s CEO, tells Among them are the pension fund’s long-term compatibility with Bentall Kennedy, its commitment to environmental, social and corporate governance, and its agreement that the firm should stay focused on operational excellence at the property level.

This week, CalPERS became a one-third owner in Bentall Kennedy, acquiring an ownership interest that had been held for the past two decades by Ivanhoe Cambridge, the real estate subsidiary of the Caisse de depot et placement du Quebec. The remaining two-thirds limited partnership ownership is evenly split between the British Columbia Investment Management Corp. and Bentall Kennedy’s senior management team.

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