CalPERS Hedge Fund Chief To Join Ascent

Jul 28 2011 | 11:17am ET

Kurt Silberstein has resigned as head of the California Public Employees' Retirement System's hedge fund program.

Silberstein, who worked at the nation's largest public pension plan for more than 11 years, has agreed to join Ascent Private Capital Management, U.S. Bank's ultra high-net worth private banking and family office business, as managing director in its San Francisco office. In his new job, which begins on Aug. 8, Silbertstein will serve as head of alternative investments, seeking out investment opportunities and performing due-diligence for Ascent clients.

"Kurt’s experience as an institutional investor makes him well suited for this position, which will have a distinctly institutional orientation,” new boss Dan Rauchle, Ascent chief investment officer, said. “Kurt is recognized as an industry leader in institutional portfolio design and implementation, as well as in manager-relationship innovation. Additionally, he has significant experience in building and managing investment teams."

At CalPERS, Silberstein was senior portfolio manager for global equities, overseeing the pension's $25 billion hedge fund portfolio and designing its $5.5 billion multi-strategy portfolio. Successful though he was, Silberstein's tenure was not untroubled: He was suspended and saw his pay docked in 2009 after CalPERS found that it had improperly paid two hedge funds $36 million without a contract.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR