PHILADELPHIA-Michael Giliberto, the co-creator of the Giliberto-Levy mortgage index and recently retired senior real estate portfolio manager and director of portfolio strategy at JP Morgan Asset Management, has been elected to the board of TRECAP Partners LLC as an outside director. Douglas A. Tibbetts, TRECAP’s CEO, said in a statement that Giliberto will serve on the board’s finance and communications committees.

A well-known industry research analyst and leading portfolio manager, Giliberto heads a real estate consulting business, S. Michael Giliberto & Co. Inc., and is an adjunct professor at Columbia University’s Graduate School of Business. From 1996 until earlier this year, he was a managing director responsible for real estate multi-strategy products at JP Morgan, overseeing portfolios totaling $30 billion in gross assets.

In 1993, he established the Giliberto-Levy Index, an often-cited industry benchmark for measuring the quarterly returns of institutional, commercial grade whole mortgage loans. Before joining JP Morgan, Giliberto was head of real estate research at Lehman Brothers and Salomon Brothers. Previously, he was a business management professor at Southern Methodist University.