Our strategic investment programs are managed by external investment managers. External managers typically invest alongside CalPERS capital and are focused on a particular strategy, geography, industry sector, or property type.

Operating as fiduciaries to CalPERS, these external managers are granted discretion to acquire, manage, and dispose of CalPERS assets, consistent with agreed-upon investment guidelines, return objectives, and annual investment plans.

NCREIF East and West regions plus Texas

General Investment and Development Advisors, Inc.
Greg Bates
Chief Operating Officer, Portfolio Management
www.gid.com

NCREIF Midwest and West regions excluding Texas

Invesco
Jeffrey Cavanaugh
Managing Director, Portfolio Management
www.invesco.com

NCREIF West region - Class B

Pacific Urban Residential
Al Pace
President and Chief Executive Officer
www.purapts.com

CIM Group, LLC
Avi Shemesh
Principal
www.cimgroup.com

Hines-Green
Gary Holtzer
Senior Managing Director
www.hines.com

Institutional Housing Partners
Douglas C. Neff
President
www.ihpinc.com

Resmark Equity Partners
Robert N. Goodman
Chairman and Chief Executive Officer
www.resmark.com

Joint ventures with California-based emerging managers investing in California urban real estate

Canyon Capital Realty Advisors 
Maria Stamolis
Senior Managing Director
www.canyonpartners.com

Core industrial assets in top tier industrial markets

Bentall Kennedy
Steve Lekki
Senior Vice President, Portfolio Management
www.bentallkennedy.com

Tactical logistics oriented assets near ports and intermodals

GI Partners
John Saer
Managing Director
www.gipartners.com

Stabilized industrial and office in key locations in Brazil

Hines Brazil
Simon Shen
Senior Managing Director
www.hines.com/locations/brazil

Stabilized industrial and retail in key locations in Russia

Hines Russia
Simon Shen
Senior Managing Director
www.hines.com/locations/russia

Stabilized office and retail in key locations in China

ARA China
Beng Tiong Ng
Chief Executive Officer
www.ara-asia.com

ARA Asset Management Limited
Beng Tiong Ng
Chief Executive Officer
www.ara-asia.com

Core and value added assets in gateway cities

CommonWealth Partners
Michael Croft
Chief Executive Officer
www.commonwealth-partners.com

Technology related properties, data centers, corporate campus facilities, and life science assets in select markets

GI Partners
Richard Magnuson
Executive Managing Director
www.gipartners.com

Neighborhood and community centers in high-income submarkets

First Washington Realty
Bill Wolfe
Principal
www.firstwash.com

High-end fashion retail; "Regional malls and lifestyle centers"

Miller Capital Advisory, Inc.
Andrew R. Miller
President
www.miller-capital.com