September 17, 2019

Communications & Stakeholder Relations
Contact: Megan White, Information Officer
(916) 795-3991 -

SACRAMENTO, Calif. – CalPERS has engaged Hines as its new manager of the Sacramento Venture real estate partnerships, which include the 301 Capitol Mall project.

"Hines is a longtime CalPERS partner and has a strong history of successfully developing real estate projects in Sacramento and the Bay Area," said Marcie Frost, CalPERS chief executive officer. "We look forward to working with them on 301 Capitol Mall. We're committed to fulfilling our fiduciary duty to find the best investment path forward for this very important project."

As of June 30, 2019, the CalPERS Real Estate portfolio had a market value of approximately $35 billion.

About CalPERS

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and administers benefits for 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $380 billion. For more information, visit