He'll be back

Californians might just have Phil Angelides to kick around again.

The former state treasurer, who lost the governor's race to Arnold Schwarzenegger in November -- and subsequently announced that he would turn his attention to investing -- says he may run once more to become the state's leader. Angelides, 53, tells Institutional Investor: "If I have the chance to run for governor again, would I? Absolutely, I'd consider it. You don't need a title to make a difference, but I'm not averse to having one."

This month Angelides will leave the treasurer's office and launch a new firm, Riverview Capital Investments, which will employ a "double-bottom-line" philosophy, aiming to generate returns through investments that benefit society. Angelides espoused that idea for eight years as a board member at the nation's two largest public pension funds, the California Public Employees' Retirement System and the California State Teachers' Retirement System.

His Sacramento-based company will initially concentrate on real estate, with a focus on urban development projects. Angelides says he will eventually consider investments in environmental technology. He declines to say how much capital he hopes to raise.