California Public Employees Retirement System (CalPERS) has committed a further $400m (鈧�378.5m) to 鈥檚 US affordable housing strategy.

The $503bn pension fund is making the latest investment via a separately managed account, following its June 2024 announcement of a $100m investment in Nuveen Real Estate鈥檚 US affordable housing fund.

CalPERS has so far committed half a billion dollars to the Nuveen US affordable housing strategy, launched in 2023, aiming to 鈥済enerate strong risk-adjusted returns and enhance community resilience鈥� in the US by providing access to affordable housing.

Pamela West, portfolio manager for impact investing at Nuveen Real Estate, said: 鈥淭he lack of affordable housing has been a multi-decade crisis in the US. We are grateful for CalPERS鈥� continued commitment to our affordable housing strategy as we seek to support a broad range of social benefits for communities and to generate steady, accretive returns.

鈥漈his investment will preserve access to safe and deeply affordable housing while making environmentally sustainable improvements.鈥�

To read the latest 麻豆映画 Real Assets magazine click here. 

Raz joined the 麻豆映画 editorial team in 2017 as news editor of 麻豆映画 Real Assets. He has over 15 years of experience as a financial journalist, having worked for Dow Jones Newswires and The Wall Street Journal where he worked as an equities reporter covering corporate news. He later covered consumer finance and moved on to become a leisure reporter and helped manage the London corporate news and small-cap desk.View full Profile

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