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Deals and People February 4, 2008
Former California Treasurer Joins Real Estate Investing Firm
February 4, 2008 (PLANSPONSOR.com) - Former
California Treasurer Phil Angelides - who once sat on the
boards of two of the nation's largest public pension funds -
has joined a real estate investing firm.
Reported by Nevin E. Adams
Angelides has joined Canyon Capital Realty Advisors (CCRA) as a Principal of the firm and as Chairman of the newly-created Canyon-Johnson Urban Communities Fund. The new fund, a partnership between Canyon and Earvin “Magic” Johnson, will focus on acquiring, improving and greening residential rental and mixed-use properties in urban communities across America.
According to a press release, the new fund will bring together a leadership team distinguished by its deep experience in urban investment and real estate.
Canyon-Johnson is part of Canyon Capital Realty Advisors LLC and its affiliate Canyon Capital Advisors LLC, which have nearly $20 billion of capital under management.
As Chairman of the new Canyon-Johnson Urban Communities Fund, Angelides – who as California Treasurer was a board member and leading voice on the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) (see A Call to Action ) – will play a key role in expanding Canyon’s highly successful and dynamic presence in the real estate investment marketplace, according to the firm.