CalPERS drops LaSalle from $1.9bn real estate mandate

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US - The California Public Employees' Retirement System (CalPERS) has dropped LaSalle Investment Management as manager of a $1.96bn industrial real estate portfolio in favour of GI Partners and RREEF.

The CalEast Global Logistics portfolio will be split between the two managers, with GI Partners running the $1.9bn of North American assets and RREEF managing $60m of European industrial assets. ...

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