SACRAMENTO, CA, March 30, 2020 -- Canyon Partners Real Estate (Canyon) today announced the California Public Employees' Retirement System (CalPERS) has allocated $375 million of additional capital to Canyon’s real estate emerging manager program. The cumulative capital committed by CalPERS to Canyon since 2012 now exceeds $1.425 billion.
Through its partnership with CalPERS, Canyon seeks to identify high-performing emerging managers with specialized expertise in specific asset classes. Through programmatic joint ventures and mentorship, Canyon aims to guide each emerging manager on a path to corporate and AUM growth and an expanded track record.
In addition to a new capital commitment, Canyon and CalPERS expanded the partnership to include Denver as a growth area, allowing Canyon to diversify the portfolio beyond existing focus areas of California, Phoenix, Seattle, and Portland.
With its existing emerging manager partners, Rubicon Point Partners, BKM Capital Partners, Sack Properties, Paragon Commercial Group and Pacshore Partners, Canyon has invested $810.9 million in 34 investments across four distinct asset classes.
“The success of this program is evident in the significant strides our managers have made, not only growing their respective companies and their AUM, but also, with respect to BKM Capital Partners and Rubicon Point partners, independently raising separate capital through their own fundraising activities,” said Maria Stamolis, co-head of real estate investments at Canyon. “We look forward to helping them reach even more ambitious milestones moving forward.”
The CalPERS Real Estate Emerging Manager Program's objective is to generate appropriate risk-adjusted investment returns by identifying early stage operators or real estate managers with strong potential for success. Through these partnerships, CalPERS is able to access unique investment opportunities that may otherwise be overlooked.
About Canyon Partners Real Estate LLC
Founded in 1991, Canyon Partners Real Estate LLC® ("Canyon") is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with over $26 billion in assets under management. Over the last ten years, Canyon has invested more than $5.1 billion of debt and equity capital across over 180 transactions capitalizing approximately $13.4 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With over 28 years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts).
For more information visit: www.canyonpartners.com.
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