Published: Saturday, Feb. 19, 2011 – 12:00 am | Page 6B
Another top investment officer has left CalPERS.
James G. Lasher, who was hired two years ago as senior portfolio manager for housing, resigned effective Friday, according to the California Public Employees’ Retirement System.
No reasons were given. But CalPERS lost several billion dollars on housing when the market collapsed, and housing is being de-emphasized in a just-approved overhaul of the pension fund’s real estate portfolio. Instead, CalPERS will concentrate mainly on existing, income-producing commercial properties.
To read entire brief, click here.