{"id":42846,"date":"2015-06-17T07:39:23","date_gmt":"2015-06-17T05:39:23","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/calpers-to-sell-ownership-stake-in-real-estate-manager-bentall-kennedy-deal-to-provide-compelling-return-for-pension-system\/"},"modified":"2015-06-17T07:39:23","modified_gmt":"2015-06-17T05:39:23","slug":"calpers-to-sell-ownership-stake-in-real-estate-manager-bentall-kennedy-deal-to-provide-compelling-return-for-pension-system","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/calpers-to-sell-ownership-stake-in-real-estate-manager-bentall-kennedy-deal-to-provide-compelling-return-for-pension-system\/","title":{"rendered":"CalPERS to Sell Ownership Stake in Real Estate Manager Bentall Kennedy Deal to provide compelling return for pension system"},"content":{"rendered":"<p><em> <strong>British Columbia Investment Management Corporation and Bentall Kennedy&#8217;s management partners own the other two-thirds of the company, and will sell along with CalPERS to Sun Life Investment Management for C$560 million.<\/strong> <\/em><\/p>\n<p><em>&#8220;CalPERS looks forward to working alongside Sun Life Investment Management, building on its 17-year longstanding relationship with Bentall Kennedy,&#8221;<\/em> said Paul Mouchakkaa, CalPERS Senior Investment Officer for Real Assets.<\/p>\n<p>CalPERS will continue to do business with Bentall Kennedy, using them as an external real estate investment manager in its Real Assets program. The System currently has approximately $900 million invested with the firm.<\/p>\n<p>CalPERS purchased the one-third ownership stake in the company in 2012 for approximately $100 million. The investment allowed CalPERS to engage its staff with an experienced real estate and investment management team. Todays announced sale will likely result in a compelling return for the System.<\/p>\n<p>Bentall Kennedy is one of North America&#8217;s largest real estate investment advisors and one of its foremost providers of real estate services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The California Public Employees&#8217; Retirement System (CalPERS) today announced that it has agreed to sell its one-third ownership stake in North American real estate manager Bentall Kennedy. <\/p>\n","protected":false},"author":20,"featured_media":42844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1809,1687,1655,1651,1437,2094,2007],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/42846"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=42846"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/42846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/42844"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=42846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=42846"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=42846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}