State governments are increasingly open to cannabis investments, even in states where marijuana isn’t legal. Many of these funds hold billions of dollars under management. California’s public employee pension fund alone (CalPERs) has $374 Billion under
- The state governments of Texas, Alaska and Tennessee have invested in San Diego-based Innovative Industrial Properties, a real estate investment trust (REIT) serving the cannabis industry.
- Other backers of the REIT include public employee and teacher pension funds from California, New York, Arizona, Ohio, New York, Oregon, Florida, Louisiana, Pennsylvania, Kentucky, Michigan, Ohio and Canada.