State Comptroller Thomas P. DiNapoli today announced that after 16 years of distinguished service, David Peirez is stepping down as Chairman of the Real Estate Advisory Committee (REAC) for the New York State Common Retirement Fund. DiNapoli also announced the appointment of Louis Dubin, a member of REAC since 2003, as the committee’s new Chairman.

“David Peirez’s expertise, his integrity and his insight have helped grow our portfolio during his many years of service,” DiNapoli said. “I wish him all the best on his well-deserved retirement from REAC. I know that Louis Dubin’s talents, and long experience on the committee, have prepared him to lead its work in guiding our pension fund’s investments.”

“It has been a professional pleasure to help guide real estate investments for the state’s pension fund,” Peirez said. “My gratitude goes to Comptroller DiNapoli for appointing me to the chairmanship, to the pension fund’s staff and the other members of the committee. Over the years we have successfully expanded the portfolio and fund’s assets.”

“My thanks to Comptroller DiNapoli for entrusting the chairmanship to me,” Dubin said. “New York state’s pension fund remains one of the nation’s strongest and best funded because of its commitment to prudent, long-term investing. I’m proud of what we have accomplished and look forward to leading the committee as we guide real estate investments in the years to come.”

REAC consists of nine members appointed by the Comptroller with the consent of the pension fund’s Investment Advisory Committee pursuant to Section 243 of the Retirement and Social Security Law. REAC’s members review proposed mortgage and real estate investments and determine which will be considered for investment by the pension fund.

DiNapoli appointed Peirez as REAC’s Chairman in 2007, shortly after taking office as State Comptroller. He was a senior partner at Reisman, Peirez, Reisman and Capobianco LLP, is an expert in corporate law, and has lectured and written on Federal and State environmental law and electronic commerce. Prior to his appointment to REAC, he served as a member of the Nassau County Interim Finance Authority and as Board Member and Vice Chairman of the New York State Job Development Authority.

He is a graduate of New York University Law School and a member of the New York and Florida bars, the U.S. Supreme Court bar, the U.S. Court of Claims, and numerous federal district courts.

Dubin has been a member of REAC for 20 years. He is the founder and managing partner of Redbrick LMD, a Washington D.C. based real estate investor and developer. He is a member of the Maryland and Washington D.C. bar associations and the bar of the U.S. Supreme Court.