California’s two big public pension funds have been on a bit of a buying spree lately, adding data centers to their investment portfolios.
CalPERS, the California Public Employees’ Retirement System, bought a data center in Chicago this week. The purchase came a week after CalPERS purchased a data center in Broomfield, Colo.
Separately, the California State Teachers’ Retirement System, or CalSTRS, bought a data center last week in Richardson, Texas.
Purchase prices weren’t disclosed.
All three deals stem from separate partnerships the pension funds created in 2012 with a San Francisco investment firm called GI Partners. Both partnerships focus on buying real estate with a high-tech bent.
The CalPERS partnership with GI “looks for technology-related assets such as data centers and other buildings like that,” said CalPERS spokesman Joe DeAnda.
The partnership with CalPERS has purchased 2.9 million square feet of properties since its inception, according to GI. Meanwhile, CalSTRS’ partnership with GI has acquired 1.8 million square feet of properties.