PrimeBrokerage.net » unidentified sources http://www.primebrokerage.net/blog Your complete source for education & information on the Prime Brokerage industry Tue, 01 Mar 2011 10:19:28 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 CalPERS Real Estate Portfolio Manager Quits http://www.primebrokerage.net/blog/2011/02/calpers-real-estate-portfolio-manager-quits/ http://www.primebrokerage.net/blog/2011/02/calpers-real-estate-portfolio-manager-quits/#comments Tue, 22 Feb 2011 10:40:32 +0000 admin http://www.primebrokerage.net/blog/?p=1093
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    CalPERS has lost its third portfolio manager in a month—the fund’s senior real estate portfolio manager, James G. Lasher, has resigned.

    Lasher’s resignation follows those of two senior portfolio managers in the California Public Employees’ Retirement System’s $47.5 billion alternative investment program—Joncarlo Mark and Michael Dutton.

    Clark McKinley, spokesman for the $226.5 billion system, confirmed the latest departure for Pensions&Investments and said it was effective Friday.

    Lasher had been with CalPERS for two years and managed investments in 20 residential investment funds.

    McKinley told P&I the housing portfolio will play a less important role as the California retirement system winds down non-core investments as part of its new real estate strategy.

    P&I quotes unidentified sources as saying Lasher was upset by the growing influence of consultants over the direction of CalPERS’ real estate portfolio.

    Source

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