CalPERS is the nation's largest public pension fund with assets totaling more than $240 billion, of which approximately $20 billion is invested in real estate. CalPERS provides retirement and health benefits to approximately 1.5 million state and local public employees and their families.
In 1994, CalPERS selected Newland as a partner in their land acquisition and development investment program. In the ensuing years, CalPERS gradually increased its commitment to the partnership, initially to invest in residential development, for the development and acquisition of communities throughout the United States. Currently, CalPERS' commitment with Newland exceeds $1 billion.
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Based in Dallas, Texas, Hunt Realty Investments, Inc. is the real estate investment company responsible for acquisition and investment management activities for Hunt Consolidated Inc. and other affiliated companies directed by Ray L. Hunt.
In 1999, Hunt Realty Investments, Inc. acquired an interest in Newland Communities, which enabled Newland to continue to expand under its national diversification strategy. The firm partnered with Newland to gain broad entry into the master-planned residential marketplace.
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Some of Newland's other investors include AIG Global Real Estate, part of American International Group, Inc., Northwestern Mutual Life Insurance Company and Institutional Housing Partners (IHP).