US pension fund has allocated an additional $350m to Canyon Catalyst Fund. : California Public Employees’ Retirement System (CalPERS) is expanding its emerging managers real estate strategy to new markets and property types. The pension fund said it had allocated an additional $350m (€301m) to the Canyon Catalyst Fund (CCF), its real estate emerging manager programme. Since 2012, CalPERS has allocated $1.2bn to CCF and it has to date invested exclusively in Californian urban markets and in office, industrial, retail, apartment and mixed-use property.