-- RFA will provide market intelligence and analytics to support GPIF's 
strategic investments in the North American real estate market

RCLCO Fund Advisors ("RFA") (www.rclco.com/rfa), an affiliate of real estate 
strategy and analytics firm RCLCO (www.rclco.com), announced today that it has 
been retained by the Government Pension Investment Fund of Japan ("GPIF") in a 
research capacity to assist GPIF's North American real estate market coverage. 
The multi-year engagement will have RFA provide market intelligence and 
analytics for GPIF, the largest retirement system in the world with US$1.5 
trillion in funds under management.

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"RFA is honored to have been selected to work with GPIF," said Taylor Mammen, 
Chief Executive Officer of RFA. "Our clients include some of the largest 
institutional investment funds globally, with large and dynamic real estate 
investment portfolios, and we are delighted to add GPIF to that list. We 
believe the North American real estate sector offers an unmatched opportunity 
for investment, and we are committed to provide actionable market intelligence 
and analytics to GPIF."

RFA leverages RCLCO's 54-year legacy of expertise and thought-leadership in the 
real estate industry to advise institutional investors' real estate strategies 
and portfolios. RFA serves institutional investors through a rigorous 
analytical approach to portfolio management and investment selection, deep 
knowledge of real estate, and team experience in research, consulting, 
investment management, property operations, and lending. Currently, RFA has 
close to $75 billion in assets under advisement.

About Government Pension Investment Fund (GPIF)

As a Japanese public pension fund, Government Pension Investment Fund manages 
the reserve fund for beneficiaries with the mission of securing long-term 
returns with minimal risk. With approximately US$1.5 trillion currently under 
management and a globally diversified portfolio, GPIF is committed to making 
the capital market sustainable by integrating ESG factors into investment and 
expecting sustainable returns with a long-term horizon as a universal owner.

About RCLCO Fund Advisors (RFA)

Established in 2011 and an SEC Registered Investment Advisor since 2014, RFA 
advises institutional investors on real estate investments through its 
analytical rigor, highly customized client-centric service, and impassioned 
search for alignment. RFA's diverse and experienced team offers a 
differentiated approach to real estate investing to address the unique 
challenges faced by institutional investors through its focus on demand-driven 
investing, real estate operations, and partnership alignment. Learn more at 
www.rclco.com/rfa 

SOURCE RCLCO Fund Advisors

CONTACT: Diana Black, dblack@rclco.com