Ted Eliopoulos, the chief investment officer of the California State Public Employees’ Retirement System (CalPERS), announced that he will be stepping down by the end of 2018 at today’s investment committee meeting.
Citing a desire to move closer to his family, Eliopoulos, who has served as CalPERS’ CIO since 2014, said in a statement that he would leave the $345 billion US public pension to relocate to New York.
CalPERS said it would begin a nationwide search for his replacement immediately.
CalPERS has a 7.6% current allocation to private equity strategies, slightly below its target of 8 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.