Bailard has announced that Tess Gruenstein and James Pinkerton have assumed co-head roles for Bailard’s real estate team, succeeding Preston Sargent who retired as president and CEO of the Bailard Real Estate Fund (BREF) at year-end. The transition reflects Bailard’s team-oriented approach and is a potent manifestation of the firm’s commitment to growing and nurturing leadership talent. Gruenstein and Pinkerton will continue to work closely with senior team member Alex Spotswood, an important contributor to BREF’s success over the past nine years. This transition is the culmination of nine months of careful planning and implementation that began in the spring of 2025. While Sargent will step back from day-to-day responsibilities, he will remain a strategic adviser to the fund for at least the next year and will continue to serve on the BREF board of directors.
Gruenstein has been with Bailard for more than a decade and has played a central role in the development and
