The California Public Employees Retirement System has hired a senior portfolio manager to boost performance in its real estate housing portfolio, following ill-timed investments in 2007.

James Lasher began his role last week as senior portfolio manager for Calpers' real estate housing program. He has assumed responsibility for managing investments in 20 funds that own roughly 288,000 single-family housing lots in 20 states as of the end of November 2008.