The California Public Employeesâ€™ Retirement System (CalPERS) has selected CB Richard Ellis Investors, L.L.C. to manage the Systemâ€™s $500 million Joint Real Estate and Alternative Investment Management Technology Program.
Under the program, the Los Angeles, California-based global investment management company will make investments in real estate and real estate-related entities, and capitalize on opportunities created from the convergence of the technology and real estate industries.
CalPERS believes the convergence creates an opportunity for the System to invest in companies that develop real estate technology infrastructure and services, and in real estate assets expected to benefit from providing space or services to tenants in high growth sectors of the economy.
(source: CB Richard Ellis)