CalPERS Names New Senior Investment Officer For Real Estate.SACRAMENTO, Calif.--(BUSINESS WIRE)--May 23, 1996--The California Public Employees' Retirement System (CalPERS) announced today it has named David Gilbert For the snooker player, see . David Gilbert (born October 6, 1944) is an American radical organizer, author and convicted murderer currently imprisoned at Clinton Correctional Facility. as its new Senior Investment Officer for real estate. Gilbert will be responsible for managing the real estate investment portfolio of the nation's largest public pension fund. He will oversee and direct CalPERS' internal real estate staff and external advisors responsible for investing in and managing real estate investments for the System. He will also monitor debt and equity real estate investments to ensure consistency and high quality across asset classes, portfolios, and investment strategies. He reports to CalPERS' Chief Investment Officer Sheryl Pressler, who leads the System in strategic asset allocation Strategic Asset Allocation A portfolio strategy that involves periodically rebalancing the portfolio in order to maintain a long-term goal for asset allocation. Notes: At the inception of the portfolio, a "base policy mix" is established based on expected returns. and risk management. CalPERS' total real estate equity program is valued at $5.7 billion with investments in core office, retail, industrial, and apartment properties, including specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. products in housing, timber, franchise finance, and net-leased investments. The real estate portfolio represents approximately 5.8 percent of the $98.5 billion fund. "Over the past 14 years, CalPERS' real estate program has grown and changed dramatically," said Charles P. Valdes, CalPERS' Investment Committee Chairman. "As we embark em·bark v. em·barked, em·bark·ing, em·barks v.tr. 1. To cause to board a vessel or aircraft: stopped to embark passengers. 2. upon a new path that will include an appropriate strategic direction and management of the System's real estate investments, we are well positioned with the special expertise and experience that David brings to CalPERS." Gilbert joins CalPERS from J.P. Morgan & Company, where he has served as Vice President of Real Estate Investment Banking since 1994. He was one of four senior team leaders responsible for client relationships and new business and had responsibility for the Northeast region of the nation, handling public and private debt and equity real estate investments, corporate mergers and acquisitions, and corporate advisory finance services. Gilbert's recent achievements include the liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of the Prudential Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Trust and a role in advising Mitsubishi Estate in the Rockefeller Center Rockefeller Center, complex of buildings in central Manhattan, New York City, between 48th and 51st streets and Fifth Ave. and the Ave. of the Americas (Sixth Ave.). The project was sponsored by John D. Rockefeller, Jr. restructuring. Prior to his position with J.P. Morgan & Company, Gilbert was promoted through the ranks of Prudential Realty Group earning the title of Vice President and Portfolio Manager in December 1992. In his position, he was responsible for operating and capital plans for approximately 80 properties with a total asset value of $1.5 billion. Gilbert earned a Master's of Business Administration degree from the University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. Wharton School of Finance and a Bachelor of Arts degree in Business Administration and Accounting from the University of Massachusetts The system includes UMass Amherst, UMass Boston, UMass Dartmouth (affiliated with Cape Cod Community College), UMass Lowell, and the UMass Medical School. It also has an online school called UMassOnline. . He is the second manager chosen in a nationwide search for three senior investment specialists to assist in the management of the CalPERS Fund into the next century. Last month, Barry Gonder was chosen to manage the private equity and alternative investment portfolio of the System. A search for the third position, a senior investment officer for public markets, is underway. Gilbert was selected from a pool of candidates as part of a nationwide search lead by Martin D. Nass of Lamalie Amrop International, a prominent executive search firm. The System provides retirement and health benefits to one million current and retired public employees and their families. CONTACT: CalPERS Office of Public Affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. Brad Pacheco/Pat Macht, 916/326-3991 |
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