The California Public Employees' Retirement System (CalPERS) has become a one-third owner in Bentall Kennedy, one of North America's largest real estate investment advisors, it was announced today.

"Bentall Kennedy has a track record of fiduciary excellence and is a global leader in environmental, social and governance practices," said Rob Feckner, President of the CalPERS Board of Administration. "This relationship will allow our real estate team to further expand on trends and opportunities in real estate investment and management."

CalPERS, the largest public pension plan in the United States, has acquired the ownership interest that has been held for the past two decades by Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec.

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