Calpers seeks new CIO as Eliopoulos resigns

The $350bn public pension fund announced that Eliopoulos is leaving to relocate to New York to be closer to his family.

Calpers has commenced the search for a replacement, with Eliopoulos leaving by the beginning of 2019.

Eliopoulos joined the pension fund in 2007 as a senior investment officer for the real estate division and the real assets unit. He was later appointed interim CIO in 2013 and permanent CIO in 2014, leading a team of 400 investment professionals.

Calpers plans to commit $7-10bn a year to private equity, according to a recent solicitation seeking a partner to help manage its $40.2bn private equity programme.

Additionally, the retirement system intends to significantly grow its co-investment portfolio, separately managed accounts and secondary participation, according to the document.

Recent funds backed by the LP include Bridgepoint Europe VI, TPG Growth IV and Carlyle Partners VII.

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