Tuesday, 2 June 2015
Last updated 14 hours ago
Feb 18 2011 | 8:46am ET
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…