Congratulations, Mike DiRè! After more than 20 years with CalSTRS, most recently as Senior Investment Director of Private Markets, Mike is retiring in 2025, marking the end of a phenomenal journey. During his tenure, he grew CalSTRS’s real estate portfolio from $2 billion to over $46 billion, shaping it into a cornerstone of the pension fund’s asset allocation.

Mike wasn’t just a powerhouse within CalSTRS; he was a true partner to IHP Capital Partners. His vision and leadership laid the groundwork for our investing relationship, and he proved to be a thoughtful, collaborative, and strategically-minded ally throughout every step.

This summer, Doug Neff, Richard Whiteley, and Chris Bley had the privilege of attending Mike’s retirement celebration. We joined others in honoring not just his astonishing track record but also the warmth, integrity, and partnership he brought to every interaction.

Thank you for everything, Mike. Wishing you the most fulfilling and joy-filled next chapter in retirement. You’ve earned it, and we’re grateful for the legacy you leave behind. Cheers to new adventures ahead!