The California Public Employees' Retirement System, the largest public pension fund in the U.S., has announced that Ted Eliopoulos, currently serving as interim chief investment officer, has been named to permanently assume the position of CIO. He takes over the position from the late Joe Dear.

In that role, Eliopoulos will be responsible for managing an investment portfolio of approximately $300 billion and an office with nearly 400 professional staff. The CIO works closely with the CalPERS board of administration on prudent investment strategies that look to the future while complying with CalPERS' fiduciary responsibilities, policies and corporate governance standards.

Eliopoulos joined in January 2007 as senior investment officer for real assets. In that position he was responsible for investing in and managing all of CalPERS' $26 billion in real asset investments, which include real estate, infrastructure and forestland. He was appointed interim CIO in June of 2013.