Deals
Calstrs Selling U.S. Real Estate While Buying European Assets
- Teacher fund says U.S. real estate ``priced to perfection''
- CIO of $180 billion pension fund targets 7.5% returns
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The $180 billion California State Teachers’ Retirement System is buying more equities and real estate in Europe while selling U.S. properties, which are “priced to perfection,” according to the fund’s chief investment officer.
“We will be selling some buildings and taking some profits,” CIO Christopher Ailman said during a television interview Wednesday on "Bloomberg <GO>." “Europe looks pretty reasonable and inexpensive compared to the U.S.A.”