Phil Angelides, former California state treasurer and unsuccessful 2006 gubernatorial candidate, opened a real estate investment firm, Riverview Capital Investors.
Mr. Angelides said in an interview that the firm will invest in urban infill and environmentally friendly development projects with capital it raises through funds directly from institutional investors or joint ventures with other real estate investment firms. Institutional investors can also invest directly in projects. Eventually, the firm could expand into other investment areas such as venture capital, Mr. Angelides said.
Under state law, Mr. Angelides is barred for one year from doing business with the state treasurer's office, the $228.4 billion California Public Employees' Retirement System or the $156.1 billion California State Teachers' Retirement System, both in Sacramento.