California Public Employees’ Retirement System (CalPERS) is planning to change the manager of its $570 million real estate portfolio, Global Pensions reports. The mandate is being handled by Deutsche Bank subsidiary, RREEF. Canyon Capital Realty Advisors may be appointed as the new manager. The CalSmart portfolio includes office, industrial and apartment properties. RREEF will continue to run the smaller CalWest portfolio of industrial properties.

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