SACRAMENTO, CA - The Board of the California Public Employees' Retirement System (CalPERS) has chosen Pension Consulting Alliance (PCA) Inc. to continue as its principal real estate consultant.
PCA has been the CalPERS Board of Administration's real estate consultant since 2009, but the contract was up for competitive review. The CalPERS Investment Committee made its selection after interviewing the top three finalists - PCA, Callan Associates Inc. and Courtland Partners Ltd - at its Dec. 12 meeting.
"PCA has provided the Board with valuable insight over the past few years as our real estate staff has worked to restructure our portfolio," said George Diehr (lower left photo) Chair of the Investment Committee and Vice President of the CalPERS Board. "We're confident their experience will continue to help us evaluate and assess potential investment opportunities in the future."
In February, the CalPERS Board adopted a new real estate strategy that focuses primarily on income-producing investments largely located in the United States. As of September 30, 2011, the market value of CalPERS real estate portfolio stood at $19.1 billion, up 26 percent from the same time a year ago.
"All the companies we interviewed for the role of Board real estate consultant had much to offer," said Rob Feckner (top right photo), President of the CalPERS Board. "PCA has shown they have the knowledge and skill to provide investment advice as we move forward with a strong, comprehensive real estate strategy."
The new contract is scheduled to take effect April 1, 2012.
Contact:
External Affairs Branch
(916) 795-3991
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Wayne Davis, Information Officer
1 comment:
Interesting and important information. It is really beneficial for us. Thanks
Post a Comment