CalPERS is searching for transitional separate account real estate managers to allocate up to $400m. :
California Public Employees Retirement System (CalPERS) is searching for “transitional” real estate fund managers to invest up to $400m (€344m) of separate-account capital. CalPERS defines transitional managers as those that are no longer “emerging” and have already raised capital for at least three institutional funds or separate accounts. The $351bn pension fund told IPE Real Assets that it is targeting managers that have “demonstrated early-stage success and are transitioning from small entrepreneurial platforms to established asset manager firms”.