Post the country's largest pension fund suffering a huge loss due to the currently economic situation, Victor MacFarlane, San Francisco based businessman and real estate adviser to the Fund, and owner of MacFarlane Partners, resigned from the position he had held for several years.

The California Public Employees' Retirement System has recently incurred a major loss after a real estate investment went wrong.

MacFarlane had been an adviser with the group for many years and in January of 2007, as reported by the Wall Street Journal, had helped garner purchases worth $970 Million. Falling land prices and the current lamentable economic situation is being blamed for the recent loss suffered by the Fund.

In addition to acting as the pension fund's adviser, MacFarlane and his firm also manage assets for some of the world biggest pension plans and institutions which, according to recent reports on the company's website, equal to a close of $10 Billion. MacFaelane was also the co-owner of the DC United, a Major League Soccer team, till May this year. His share was then sold by him to a fellow businessman from San Francisco Will Change.