(MENAFN - Newswire.com LLC) LOS ANGELES,
August 10, 2019(Newswire.com) -
California Governor Gavin Newsom announced on Thursday the appointment ofStacie Olivares-Castain , Lendistry's Chief Investment Officer, to the California Public Employees' Retirement System Board of Administration. With a market value of $377 billion, the California Public Employees' Retirement System (CalPERS) is the nation's largest public pension fund serving more than 1.9 million members in the retirement system and 1.5 million members and their families in the health program.
'Stacie is passionate about improving the lives of Californians, particularly the underserved. Her depth of investment acumen and proven track record for driving financial improvements will be a valued contribution to the Board in their efforts to protect the wellbeing of California's employees for generations to come,' saysEverett K. Sands , CEO of Lendistry.
Located in a Downtown Los Angeles Opportunity Zone, Lendistry is a minority-owned, technology-enabled CDFI small business and commercial real estate lender providing responsible financing to small business owners and their underserved communities. Lendistry ranks 2nd nationwide in SBA Community Advantage lending and is a member of the Federal Home Loan Bank of San Francisco. Earlier this year, Lendistry received certification as a Community Development Entity allowing the company to apply for a 39% New Market Tax Credit ('NMTC') allocation for its equity investors in NMTC eligible transactions.
Ms. Olivares-Castain's career spans the private and public sectors across the areas of finance, economics, and mobile technology. Prior to joining Lendistry, Ms. Olivares-Castain was the Managing Director and Chief Investment Officer of the California Organized Investment Network (COIN), an impact investment fund directing insurance company capital in investments that yield competitive financial returns and environmental or social benefits to California's underserved and rural communities. Previously, she was at Morgan Stanley in portfolio management and financial advisory services, served as the former executive director of the California Commission for Economic Development, and led licensee business development and account management at Palm Inc.
Stacie is an alumna of the University of California at Berkeley and Harvard University.