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Shocker: City Pension Fund Not Sinking Cash into Real Estate

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The San Francisco City and County Employees’ Retirement System is canceling plans to invest up to $100 million in real estate over the next 6 to 9 months amid the market's recent downturn. They say the measure would not be "prudent." And they should know -- they've already invested more than $100 million this year. And so it continues. [Private Equity Real Estate]