CalPERS allocates $350M to Canyon Catalyst Fund

It invests in office, retail, industrial, multifamily and mixed-use projects

(Credit: Getty Images)
(Credit: Getty Images)

The California Public Employees’ Retirement System (CalPERS) has allocated another $350 million to its Canyon Catalyst Fund managed by Canyon Partners Real Estate firm, the agency announced Tuesday.

This brings CalPERS’ financial commitment to the emerging managers program up to $1 billion, according to a company statement.

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Canyon Catalyst Fund, which launched in 2012, invests in office, retail, industrial, multifamily and mixed-use projects across Southern California. It currently holds 27 investments across the state. Its partners include Rubicon Point Partners, Pacshore Partners, Paragon Commercial Group, Sack Properties and BKM Capital Partners.

The program, whose objective is to identify early stage funds with strong potential for success, has plans to expand into Phoenix, Seattle, and Portland metro areas, and expects to venture into the self-storage and student housing sectors.