CalPERS Enters Into 400 Million Dollar Fund To Invest in India Real Estate
As the United States real estate market matures, large pension funds are looking for real estate investments overseas. CalPERS, the huge state run pension fund for California state employees, is creating a 400 million dollar fund to invest in real estate in India. The focus will be on the investment into hospitality properties in the country. The slow US market and loosening restrictions on Indian investment have created the opportunity for CalPERS to jump into this untapped market.
Commenting on the new development, Priya Mathur, vice-chairperson, investment trustee committee, CalPERS, said that both the retail and tourism sectors in the Indian market are gaining tremendous momentum and are looking extremely promising to investors, especially the property boom that the country is experiencing. She adds, “We are actively looking at investing in the hospitality segment and are currently pursuing talks with players in this field.” However, nothing has been finalised yet on the projects, she asserts. The US $100 million fund that CalPERS first entered into India concentrated purely on investments on technology, pharmaceuticals and manufacturing. Now, however, the group is looking at other booming segments like hospitality and tourism. For its hospitality projects the group is keen to make its presence felt in Mumbai and Delhi, with Hyderabad and Chennai being other options. via Express Hospitality.
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[...] investment by major pension funds in domestic and international real estate is increasing. CALPERs made a big announcement earlier this month, now the State Teachers Retirement [...]