CalPERS awards new capital to core separate account managers. : California Public Employees Retirement System (CalPERS) has approved $2.65bn (€2.25bn) of commitments to its existing core US real estate separate accounts. The $352bn pension fund – which has earmarked $4.8bn for real estate over the next 12 months – said in a board meeting document that it has approved $1bn for Fifth Street Properties, $800m for Institutional Multifamily Partners, $500m for Institutional Logistics Partners and $350m for CalEast Global Logistics (CalEast). Fifth Street Properties is a core office building investment partnership with CommonWealth Partners, which can also make value-add investments.