CalSTRS Promotes Julie Donegan to Real Estate Investment Director

Previously a portfolio manager, Donegan is the system’s first woman to hold the position.  

Julie Donegan

The California State Teachers’ Retirement System promoted portfolio manager Julie Donegan to real estate investment director, the pension fund announced in a press release on September 6.

Donegan, the first woman to hold the role, according to CalSTRS, will provide insights on the real estate market to the teachers’’ retirement board, execute the real estate investment policy of CalSTRS and serve as a member of the fund’’s senior leadership team.

Donegan will continue to report to Mike DiRe, who was promoted to senior investment director of private markets.

“Julie is the right person at the right time to lead the CalSTRS Real Estate team,” DiRe said in the release. “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. In addition, Julie’s passion for diversity, equity and inclusion and sustainable investing keeps Real Estate aligned with the Teachers’ Retirement Board and its goals.”

Donegan has more than 20 years of experience, including six at the California Public Employees’ Retirement System and nearly four at CalSTRS. She was previously senior vice president at Franklin Templeton Investments, director at Perseus Reality Partners, senior vice president at Eastdil Secured, and an investment officer at CalPERS.

In her previous position as a portfolio manager, she focused on residential assets and oversaw Fairfield Residential, a residential firm purchased from Brookfield Asset Management.

CalSTRS currently has $321.3 billion in assets, with 15% of the portfolio allocated to real estate investments. The pension fund is the largest educator-only pension fund, servicing retirement plans for nearly 1 million teachers across California.

Tags: ,