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CalPERS and GI Partners Launch $500 Million Fund to Buy Technology Advantaged Core Real Estate

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According to the press release, “The California Public Employees’ Retirement System (CalPERS) announced today the launch of TechCore, LLC, a $500 million core real estate fund established with its real estate partner GI Partners to invest in technology advantaged properties in the United States.

The new fund, led by the Menlo Park, California-based GI Partners, will purchase data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core metropolitan cities throughout the nation and leased to industry leading tenants.

“This partnership represents the next generation of innovative investments to come in core real estate that is wired and ready to support the technology,” said Joe Dear, Chief Investment Officer for CalPERS.

TechCore is a continuation of a long-standing and successful relationship between CalPERS and GI Partners. CalPERS committed $500 million to GI Partners Fund I in 2001, an investment that generated a 31 percent net annualized internal rate of return. CalPERS committed additional capital to GI Partners Funds II and III and has awarded GI Partners select separate account mandates including CalEast Global Logistics, LLC, a transportation advantaged warehouse and logistics real estate owner and operator.”

Read more: CalPERS Press Release

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

Stream off Follow the Money

The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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