MacFarlane Quits CalPERS; Stockbridge In

Through the first quarter of 2009, CalPERS placed net-asset fair-market value of $854.4 million on the portfolio of California Urban Investment Partners LLC. The portfolio’s quarterly returns were negative 24.2 percent; its one-year return was negative 40.3 percent.

…

MacFarlane now has no relationship with CalPERS. As recently as December 2007, MacFarlane was a major advisor to the system. The real estate manager stated on its Web Site at that time that it had managed more than $10 billion in urban real estate assets on behalf of CalPERS.

[via The Registry]

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