Los Angeles Fire and Police Pensions (LAFPP) is honored to receive the Rich Chicotel Award from the Pension Real Estate Association (PREA) this year. The award is named in honor of the late Rich Chicotel, who was the chief financial officer of Shorenstein Properties, one of the country’s oldest real estate organizations, and an LGBT philanthropist active in various LGBT causes and fundraising activities. In 2007, he was named by the San Francisco Business Times as the San Francisco Bay Area CFO of the Year for privately-owned companies. In addition to being a successful CFO, Mr. Chicotel mentored many Stanford students as they began their real estate careers. He received his MBA degree from Stanford, graduated from Harvard College with a B.A., and from the University of Otago, Dunedin, New Zealand with a Postgraduate Diploma in International Economics.
In 2016, LAFPP expanded its emerging manager program to include funds owned and managed by lesbian, gay, bisexual and transgender (LGBT) investment professionals. The PREA nominating committee unanimously voted in favor of granting the 2016 award to LAFPP due to its support for the LGBT Community and for being leaders in the field.
“We have witnessed first-hand how inclusiveness in our thinking and actions can drive good outcomes for our pension. LAFPP is honored to receive the Rich Chicotel Award and we hope that it serves as a green light for more funds around the country to follow our lead. Diversity and inclusiveness do drive returns.” – Brian Pendleton, LAFPP Commissioner
“We represent one of the most diverse cities in the world. The Los Angeles Fire and Police Pensions Commission through this unanimous action of our Commissioners has recognized that diversity as a core strength. And we believe that the diversity of perspective borne of this action will drive better financial returns for our investors, the men and women of our membership.” – Dr. Pedram Salimpour, LAFPP Commission President
The award will be presented at the Pension Real Estate Association Fall Conference in Washington DC on Thursday, September 29th.
The Pension Real Estate Association (PREA) is a non-profit trade association for the global institutional real estate investment industry. PREA serves to educate members in the global institutional real estate community regarding real estate investments.