September 17, 2014

External Affairs Branch
(916) 795-3991
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer

SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) today announced that Ted Eliopoulos has been selected as CalPERS Chief Investment Officer (CIO), permanently assuming responsibility for leading the investment office at the nation's largest public pension fund. Eliopoulos currently serves as CalPERS' Interim Chief Investment Officer.

Eliopoulos takes over the position from the late Joe Dear, and was previously the Senior Investment Officer (SIO) for Real Assets at CalPERS.

"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."

As CIO, 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 to determine prudent, forward-thinking investment strategies in accordance with CalPERS fiduciary responsibilities, policies, and corporate governance standards.

"The CalPERS Investment Office has gone through a period of tremendous change and transformation in recent years," said Henry Jones, CalPERS Board Member and Chair of the Investment Committee. "In addition to his remarkable talent, Ted will provide steady leadership and bring further stability to the office so he and his staff can focus on achieving long-term, risk-adjusted returns for our members."

Eliopoulos joined CalPERS in January 2007 as Senior Investment Officer (SIO) for Real Assets. In this 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 as Interim CIO in June 2013.

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 with honors, from Dartmouth College, 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.

CalPERS is the largest public pension fund in the U.S., with approximately $300 billion in assets. CalPERS administers health and retirement benefits on behalf of 3,064 public school, local agency, and state employers. There are more than 1.6 million members in the CalPERS retirement system and more than 1.3 million in its health plans. For more information about CalPERS, visit