The California Public Employees’ Retirement System (CalPERS) is seeking to revamp its $15.4 billion real estate portfolio, Pensions & Investments reports. The pension fund is seeking to shift the portfolio to mainly domestic, core or stable-income producing real estate, run by managers in separate accounts.

The new portfolio will include some existing investments along with investments managed by 15-30 new managers. CalPERS is expected to invest around an additional $1.5 billion in new real estate commitments.

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