CalPERS

Real Assets Glossary

This Glossary identifies, defines, and clarifies the meaning of investment terms used by CalPERS in our investment policies. The purpose of the Glossary is to establish a uniform vocabulary of terms for users of these policies.

Choose from the letters below to find a specific Real Assets Investment Policy term or phrase. You'll also find information about the related policies and asset classes for each term.

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D


De minimis - Trifling, minimal. So insignificant that a court may overlook it in deciding an issue or case.

Related Policy


Debt Financing Amount - Refers to any debt financing amounts committed to, by, or on behalf of a relationship. May include, but is not limited to, public, private, secured or unsecured, fixed or variable rate credit lines, subscription lines, credit guarantees, credit accommodations, credit enhancements, property debt, portfolio debt, joint venture or entity debt for commingled funds, separate accounts or targeted transactions.

Related Policy


Debt Service Coverage Ratio - The annual net operating income divided by the annual debt service.

Related Policies


Derivative - An instrument whose value is based on the performance of an underlying financial asset, index, or other investment. Classes of derivatives include futures contracts, options, currency forward contracts, swaps, and options on futures.

Related Policy

  • No related policies

Developed Real Estate Market - Markets domiciled in high-income countries, as defined by the World Bank, that most investors consider to have a well-developed operating and regulatory structure for its capital markets. These markets are included in the FTSE Benchmark Classification as Developed Markets.

Related Policy

  • No related policies

Direct Investments - An investment in which CalPERS has ownership interest in a property or group of properties.

Related Policies


Disposition Amount - Refers to any amounts for disposition, of any investments amounts committed to a relationship. May include, but is not limited to, annual dispositions, multi-year dispositions or commitments to commingled funds, separate accounts or targeted transactions.

Related Policy


Downstream Joint Ventures - Downstream Joint Ventures are partnership agreements executed by the operating partner of a joint venture funded by CalPERS (the Upstream Joint Venture).

Related Policy


Due Diligence - The process of investigating, evaluating, and analyzing a potential investment's characteristics, investment philosophy, and terms and conditions.

Related Policy