Institutional Investors People moves

CalPERS’ Silberstein moves to wealth management

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The architect of the California Public Employees’ Retirement System’s hedge fund programme, Kurt Silberstein, is joining US Bank to lead the alternative investments effort at its Ascent Private Capital Management subsidiary.

The wealth management group serves ultra high-net-worth clients with more than $25 million. Silberstein will build and lead the firm’s alternative investment team, which will be responsible for sourcing, researching and providing due diligence for alternative investments including hedge funds.

As senior portfolio manager for global equities, Silberstein worked with CalPERS for more than 11 years and most recently oversaw a $25 billion portfolio comprised of more