The California Public Employees' Retirement System (CalPERS) today included 16 managers in pools that will be tapped to make portfolio investments in international fixed income and real estate equity securities, and in U.S. global equity.
"We evaluated many proposals from candidates, and these managers showed the most promise," said Rob Feckner, CalPERS Board President. "We are counting on them for benchmark-beating returns, especially in international markets."
The five international real estate managers that will receive CalPERS funds, subject to successful negotiation of fees and terms, are:
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Citigroup Property Investors, which has offices in New York, London, and Hong Kong;
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European Investors Inc. of New York, Amsterdam/Munich, and Singapore;
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Morgan Stanley Investment Management of London, New York, and Singapore;
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Presima Inc. of Montreal; and
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RREEF America L.L.C., of Chicago, London, Sydney/Hong Kong.
CalPERS selected six managers for the pool of international fixed income. They include:
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AllianceBernstein L.P;
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BlackRock;
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Brandywine Asset Management, LLC;
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Mondrian Investment Partners Limited;
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Morgan Stanley Investment Management; and
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Pacific Investment Management Company, LLC.
Four managers were chosen for the pool of U.S. Equity Active Growth Manager Spring-Fed Pool:
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Goldman Sachs Asset Management;
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Jacobs Levy Equity Management;
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Marvin & Palmer Associates, Inc.; and
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Turner Investment Partners.
One additional manager, Intech, will be in the U.S. Equity Enhanced Indexing Growth Manager Spring-Fed Pool, with two products: Broad Large Capital Growth and Large Capital Growth.
"We have confidence in all of these managers, based on their performance track records, professional staffs and organization, and the ability to implement research and strategies that are vital for sound investments," said Charles P. Valdes, Chair, CalPERS Investment Committee.
CalPERS is the nation's largest public pension fund with assets of more than $205 billion. The System provides retirement and health benefits to more than 1.4 million State and local public employees and their families. For more information about CalPERS, visit www.calpers.ca.gov.
