The investment committee of CalPERS has approved the search for a general real estate consultant, Pensions & Investments reports. The request for proposal for the $235.6 billion system’s advisor will be issued by next month.

The agreement of current consultant Pension Consulting Alliance (PCA) will expire on Dec. 31, 2011. PCA has held the CalPERS contract since January 2009 and it was extended through the end of 2011 in May.

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