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The California Public Employees' Retirement System (CalPERS) today announced the appointment of James G. Lasher as Senior Portfolio Manager of its Real Estate Housing Program.
"Jamie is a great addition to the CalPERS Real Estate team," said Ted Eliopoulos, Interim CalPERS Chief Investment Officer. "The U.S. housing market is facing continued challenges. The financial sophistication, transactional experience, and real estate understanding that Jamie brings will help us realize the long-term potential that our housing portfolio offers."
At CalPERS, Lasher is responsible for managing investments in 20 funds sponsored by seven investment managers that are focused on residential land and development. These funds owned approximately 288,000 single-family housing lots in 20 states as of November 2008.
Lasher joined CalPERS in the newly created position this week from Piedmont Property Partners, a real estate investment and advisory firm he founded in 2008. Prior to founding Piedmont Property Partners, Lasher spent 10 years in real estate investment banking. At Bank of America from 2003 to 2008, he provided strategic advice and corporate finance solutions to a broad range of publicly traded and privately held real estate and lodging companies. He played a similar role at Morgan Stanley from 1997 to 2002. Prior to investment banking, Lasher spent five years in real estate development, acquisition, and finance with two west coast real estate firms.
Lasher reports to the Senior Investment Officer for Real Estate.
A native of California, Lasher earned his MBA from the Haas School of Business at UC Berkeley and his law degree from Hastings College of the Law, UC San Francisco. He earned a bachelor’s degree in English literature from the University of California, Berkeley.
