The California Public Employees’ Retirement System has transferred a $998 million office properties portfolio from Hines, The Wall Street Journal reports. The portfolio has been now been moved to Los Angeles-based CommonWealth Partners. The portfolio includes offices in Boston, Chicago, Seattle, San Francisco, Palo Alto, Minneapolis, Salt Lake City, Austin and Denver, adds Business Journal. Separately, Calpers has recently also increased its allocation to a Hines-sponsored fund in Brazil by $190 million.
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