Mike DiRe was named director of real estate for the $111 billion California State Teachers’ Retirement System, Sacramento, filling a vacancy that had been open since the November 1999 departure of Mitch Pleis.
Mr. DiRe handles the $175 billion California Public Employees’ Retirement System’s $2 billion core retail portfolio. He will oversee a staff of four who run CalSTRS’ $3.2 billion real estate program. Heidrick and Struggles conducted the search.
Mr. DiRe’s departure will create another opening in Sacramento-based CalPERS’ real estate program. Guy F. Jaquier, CalPERS head of real estate, will become executive vice president and chief investment officer of AMB Property.
Separately, CalSTRS selected Pendleton James Associates to search for a CIO. The search is expected to be completed by mid-August.
