Meghan Morris
The Dallas-based firm is raising its latest fund in a series that focuses on private equity control investments, corporate and consumer debt, real estate and real estate debt.
Ted Eliopoulos joined CalPERS in 2007 and will step away by the start of 2019.
The Japanese firm, owned by Mitsubishi Corporation, is also planning to launch its first fund dedicated to the strategy in the spring.
The firm’s Europe debt head Jim Blakemore says fundraising for the regional vehicle was ‘a lot easier’ than it was for its first UK debt product thanks to investors being more comfortable with the strategy nowadays.
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The publicly-traded vehicle, which would be seeded from the company’s balance sheet assets and two non-traded REITs, would have $5.5bn in assets.
Albourne America replaced Aon Hewitt to oversee the $29.7bn retirement system’s investments in real estate, private equity, credit and real assets.
The IPO comes a month after KKR took its real estate financing arm public, raising $210m.
The venture will initially focus on US multifamily and skilled nursing properties.
The new executive will oversee PIMCO’s private strategies.
The Newport Beach, California-based investment manager is targeting $3bn-$4bn for its latest real estate fund.