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.
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Prior to CalPERS, Eliopoulos served in the California State Treasurer's Office as deputy treasurer and then chief deputy treasurer, from 2002 to 2006.
Eliopoulos, 50, received a bachelor's degree magna cum laude from DartmouthCollege, and holds a juris doctor degree from the University of Virginia. He has served on the board of the Pension Real Estate Association, where he served as board chair for one term.
"Ted distinguished himself during the selection process as the best candidate for this position," said Rob Feckner, CalPERS board of administration president. "He has the intellect, temperament, leadership ability and investment experience necessary to succeed in this position — qualities he has consistently demonstrated during the past year in his role as interim CIO. I look forward to continue working with Ted in this role and congratulate him on this achievement."
There are more than 1.6 million members in the CalPERS retirement system and more than 1.3 million in its health plans.
See also:
- CalPERS CIO Dear is taking leave to continue health treatments
- Calpers earns 18% as stocks buoy returns
- Judge orders Calpers to justify bankruptcy claims
(Image courtesy of CalPERS)
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