CalPERS invests in two emerging managers through Canyon Catalyst Fund

The $258.6 billion California Public Employees Retirement System (CalPERS) has formed two joint venture through its emerging manager program Canyon Catalyst Fund, a $200 million fund with Canyon Capital Realty Advisors.

CalPERS has formed a partnership with Rubicon Point Partners, a real estate private equity firm based in San Francisco. Rubicon targets value-added properties in northern California. The firms will pursue acquisitions in northern California office, R&D and data center properties that range from $60 million to $100 million. Rubicon Point has