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May 2, 2013

Partner to run CalPERS real estate investment

CalPERS this week hired an outside partner to manage a $250 million real estate investment fund.

The partnership with Invesco Real Estate will focus on multifamily properties in the western United States. It will be known as the Institutional Core Multifamily Investors.

"We believe adding a measured allocation to high-quality apartment assets will enhance the overall risk and return profile," said Ted Elio-poulos, senior investment officer for CalPERS real estate.

Call The Bee's Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.

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