Julie Donegan has been promoted to real estate investment director from interim real estate director, becoming the first female executive to take on the role at the $315.6 billion California State Teachers' Retirement System, West Sacramento, according to a news release.
Ms. Donegan replaces Mike DiRe, who was appointed senior investment director of private markets in January. CalSTRS officials plan to fill Ms. Donegan's former position of portfolio manager and anticipate starting the search in October, said Barbara Zumwalt, CalSTRS spokeswoman in an email.
"Her experience working in the public and private sectors along with her collaborative personality give Julie the ability to manage CalSTRS' unique portfolio of investments and investment managers through the current challenging market environment and into the future," Mr. DiRe said in the news release.
Ms Donegan, who joined CalSTRS as a real estate portfolio manager in 2019, most recently focused on residential assets overseeing Fairfield, CalSTRS' largest real estate operating partner. She also participated on internal net zero and diversity, equity and inclusion teams.
CalSTRS had $50.8 billion in real estate assets as of June 30.