Kirk Stebbins was hired as CIO of the $5 billion Oklahoma Public Employees Retirement System, Oklahoma City, a new position. He was vice president, institutional fixed-income research for Dain Rauscher.
Pennsylvania State Employees Retirement System, Harrisburg, and the Pennsylvania Real Estate Investment Trust, Philadelphia, jointly acquired Willow Grove Park, a 981,000-square-foot shopping center in Willow Grove, Pa., for $140 million. This is the first joint venture between the $26.5 billion fund and PREIT. Legg Mason Real Estate Services was the adviser to the fund.