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 Pendle-ton James Associates to search for a CIO. The search is expected to be completed by mid-August.
