Summary of Transaction Headlines

IPE Real Assets | “CalPERS Adds $3.9 Billion New Commitments to Real Estate”

California Public Employees Retirement System (CalPERS) has made two new commitments to its real estate portfolio totaling
$3.9 Billion according to the pension fund’s latest meeting document. Two of the commitments involved fresh capital awarded to GI Partners for $1.5 Billion in two existing partnerships. One of these was $1 Billion of additional capital to the TechCore relationship. This partnership invests in technology-related real estate assets in the US. CalPERS valued this partnership at $3.2 Billion through June 2025, according to the pension fund’s document. The one-year total return on this portfolio was 7.1%. The other commitment to GI Partners was for $500 Million into the CalEast Solstice partnership. This capital will be invested in industrial assets in the US.

IPE Real Assets | “CalSTRS Deploys $3 Billion Across Real Estate Equity and Debt”

The California State Teachers Retirement System (CalSTRS) approved close to $3 Billion worth of real estate commitments during the second half of 2025. The $397 Billion pension fund said it made a $500 Million commitment to IDR Industrial Index Fund, a core fund that tracks the open-ended US industrial funds of the ODCE Index. The fund’s manager, IDR Investment Management, did not respond to a request for comment.

Bisnow | “Morgan Stanley Raises $2.9 Billion for One of the Biggest New Funds in Years”

Morgan Stanley’s real estate investment division has raised $2.9 Billion for a new opportunity fund, one of the largest fund-raises of this real estate cycle. This was the first close for the North Haven Real Estate Fund XI Global. The fund raise was disclosed in a Securities and Exchange Commission filing last week. The fund is targeting a total equity raise of $4 Billion, which would be almost a third more than the $3.1 Billion it raised for its tenth opportunity fund in 2021. That fund has called for about 70% of its capital and made a 10% internal rate of return so far.

IPE Real Assets | “Lombardo to Join Frasers Property as Chief Operating Officer”

Tony Lombardo will join the Singapore-listed real estate group as Group Chief Operating Officer from 1 October 2026, where he will lead group investments and Frasers Property Capital to drive cross‑portfolio optimization and disciplined capital deployment. Lombardo joins from Lendlease, where he served as Group Chief Executive Officer and Managing Director and previously held the role of Chief Executive Officer, Asia, within the same firm.

Business Wire | “View Homes Appoints Natasha Gandhi as Chief Executive Officer”

View Homes, an affiliate of Hunt Companies, Inc., announced the appointment of Natasha Gandhi as Chief Executive Officer. Ms. Gandhi brings more than 20 years of homebuilding and executive leadership experience to the role. Most recently, Ms. Gandhi served as Regional President of the Mountain Region at Richmond American Homes, where she oversaw strategic direction and operational performance across Colorado and Utah.

Mingtiandi | “Former APG Real Estate APAC Boss Graeme Torre Joins Hongkong Land”

Just a few months after turning over the top role for Asia Pacific at Dutch pension fund manager APG Asset Management’s real estate division, Graeme Torre has joined Hongkong Land. Torre is now Chief Executive Officer for Hong Kong Central at the real estate division of conglomerate Jardine Matheson, with a statement on the company website noting that, he is responsible for strengthening Hong Kong Central’s position as a leading ultra-premium integrated commercial property.

Business Wire | “Perform Properties Hires Brad Bazley to Serve as Chief Technology Officer”

Perform Properties (“Perform”), a diversified real estate operating platform specializing in high-quality, grocery-anchored retail centers and premier office assets, announced the appointment of Brad Bazley as Senior Vice President and Chief Technology Officer. In this role, Bazley will spearhead the company’s technology strategy, prioritizing innovation and technology solutions to enhance portfolio operations and drive value.