CalPERS drops BlackRock from real estate portfolio

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US - The California Public Employees' Retirement System (CalPERS) has replaced BlackRock Realty Advisors as manager of a $1bn apartment real estate portfolio.

As part of the fund's restructuring plan, CalPERS has consolidated its entire core multifamily apartment portfolio under a single partner - GID Investment Advisers, an affiliate of the General Inve...

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