Ira Lubert, one of the most successful private investors in the Philadelphia area, is one of a group of candidates who plan to run for Safeguard Scientifics’ board seats, writes Joseph DiStefano for the Philadelphia Inquirer.

Lubert will join Safeguard Scientifics shareholder Darren Wallis and investors Russell Glass and Paul McNulty in vying for the seats.

Lubert used to work as an aide to Safeguard founder Warren “Pete” Musser. He left Safeguard in the 1990s because he did not understand why the company was making dot.com investments that later lost their value.

At the time, Lubert had partnered with real estate investor Dean Adler and other local professionals to start a number of private-investment firms. Today, these have a number of prominent clients, including the Pennsylvania public-school teachers and state workers investment funds.

According to Lubert, his firms have invested close to $8 billion in real estate, private firms, and other assets that are currently valued at around $18 billion.

Read more about the candidates in the Philadelphia Inquirer by clicking here.