CalPERS considers property portfolio switch

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US - The California Public Employees' Retirement System (CalPERS) is considering dropping Deutsche Bank subsidiary RREEF as manager of a $570m real estate portfolio in favour of Canyon Capital Realty Advisors.

Although CalPERS announced the switch in a news release, it later said the move was still under negotiation. The CalSmart portfolio includes office, industrial and apartment properties. RREEF wi...

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