CalPERS Considers Showing Blackrock The Door
November 26, 2009
The WSJ is reporting that CalPERS is considering dropping Blackrock as an investment advisor to the pension fund after a disastrous year. Amongst the investments Blackrock steered CalPERS into was the Stuyvesant Town/Peter Cooper Village deal in NY. That deal has very likely cost CalPERS all of its investment of $500M.
But of course, what did [...]
CalPERS Takes Huge Hit to RE Portfolio
November 11, 2009
CalPERS has taken a huge hit to its real estate portfolio according to The Registry.
At the end of March, the pension fund placed a net-asset fair-market value on its real estate holdings of $17.6 billion. Three months later, the retirement system said the value had fallen by nearly a quarter to $13.4 billion.
Amongst those losses [...]
Chinese Sovereign Wealth Funds Look to US
September 9, 2009
The WSJ is reporting that China’s SWF, China Investment Corporation, is seeking to place bets on the US Real Estate market. To that end, they’ve held discussions with managers BlackRock, Invesco, and others.
The estimates in the article peg allocation in the range of $4-20B, but that is just a drop in the bucket of the [...]
