Sunday, 24 May 2015
Last updated 1 day ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…