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 [...]
CalSTRS Taking Steps to Reduce Risk
November 11, 2009
Funny how CalSTRS and other pension funds decide now that they want less risk after the market has tanked.
CalSTRS’ new real estate policy creates a higher floor for so-called “core” real estate investment, raising it from 30 percent of assets today to no less than 35 percent. Core real estate is the least risky with [...]
Lionstone Group Purchases Page Mill Hill For $95M
October 31, 2007
Houston based Lionstone Group has purchased Page Mill Hill for roughly $510 psf. The 181,000 square feet projects sits on a ground lease from Stanford University and is located at 1801-1891 Page Mill Road in Palo Alto. This acquisition marks Lionstone’s first foray into Silicon Valley. The firm has partnered with pension fund CalSTRS to [...]
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