Klein Financial Corporation serves as co-investor and investment manager for two real estate investment funds of the California Public Employee Retirement System (CalPERS) totaling 2,793 units and over $530 million in property value.  These funds were established to invest in affordable multifamily housing developments located in California.  Klein Financial Corporation was named an investment manager for the initial fund through a highly competitive national process in 2002, and Klein Financial Corporation was selected as the investment manager for the second fund as a result of our development, asset management, and tax exempt bond expertise.