With over 55 years of experience in real estate, Ray Wirta has seen the ups and downs of the industry firsthand. Ray is a former board member of CBRE and served as chairman from 2014-2018. He also served as chief executive officer for CBRE where he directed the strategy to take the company private in 2001 and then to take it public again in 2004. Prior to CBRE Ray was with Koll for 14 years, including the last five as president. He holds a masters degree in International Management from Golden Gate University and a bachelors degree in Economics from Long Beach State.

Today, while real estate remains a core holding, Ray has been diversifying into private equity to complement his portfolio. In this educational interview, he shares his motivation and perspective on private markets, specifically venture capital.

Topics discussed include:

• The appeal of venture capital as a broader opportunity set compared to real estate

• The inspiration of backing entrepreneurs solving problems

• How private equity can provide portfolio diversification

Ray also explains why working with an experienced venture fund can help mitigate the risks and maximize the potential upside of these investments, compared to one-off investments in companies.