LOS ANGELES, June 14 (Reuters) - The chief investment officer of Calpers, California’s state pension fund, is undergoing treatment for prostate cancer, the fund said on Friday.
Joseph Dear, 62, has ceded some of his responsibilities as CIO of the California Public Employees’ Retirement System to Theodore Eliopoulos, the fund’s senior investment officer for real estate.
Calpers is America’s biggest public pension fund, managing assets of $260 billion.
“Joe still continues to work in the office and from home during his treatment and Ted is heading the day-to-day responsibilities,” said Joe DeAnda, a Calpers spokesman.
“This is a personal issue and we respect the privacy of Joe and his family.”
Dear became Calpers CIO on 2009, after the recession had reduced the value of the fund’s assets to about $165 billion. Last week the value of its assets had risen to $260 billion.