CalPERS invests $530m in two China-focused property funds
The California Public Employees’ Retirement System (CalPERS) has committed $530 million to two China-focused real estate funds run by ARA Asset Management, a Singapore-listed affiliate of Cheung Kong Holdings.
The pension system will invest $480 million in ARA Long Term Hold Fund, which targets high quality office buildings in central business districts and retail malls in the suburbs of first- and second-tier...
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