By Jim Wasserman
Published: Thursday, Nov. 26, 2009 – 12:00 am | Page 6B
CalPERS, shaken by heavy losses in a New York apartment deal recommended by investment adviser BlackRock Inc., is leaning toward severing ties with the firm, the Wall Street Journal reported Wednesday.
The California Public Employees’ Retirement System declined comment on the report, which was based on an anonymous source. The pension fund giant acknowledged, however, that it is reviewing the performance of all its real estate managers, “given the current economic environment and new leadership in our investment office.”