CalPERS stopped its co-investment program in 2016. Now CIO Ben Meng wants a restart.
Tag: Ted Eliopoulos
Ted Eliopoulos is leaving Friday, but new CIO Yu Ben Meng can’t start until January because of a non-compete agreement. Eric Baggesen will become interim CIO.
Start date has not yet been determined.
The program, however, represents just a little more than 1% of CalPERS’s AUM.
Ted Eliopoulos wants to know whether the largest US pension system is being rewarded enough for its investment risk taking.
Approval for new private equity direct investment organization could also be only several months away.
Pension results were just under its custom benchmark, missing the mark by six basis points.
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Retirement system hasn’t been attracting enough top talent with current pay package.
CIO tells investment committee there aren’t enough top-tier firms to invest in to sustain growth.
Critics express fiduciary concerns.
‘CalPERS Direct’ would help largest US fund to bypass high fees.
Eliopoulos' leave comes at a crucial time for the mega pension fund.