Joe Dear, the chief investment officer at CalPERS, is undergoing treatment for prostate cancer and has handed off his day-to-day duties.
Dear, 62, has relinquished daily operations to Ted Eliopoulos, CalPERS' senior investment officer for real estate, pension fund spokesman Brad Pacheco said today. The transition occurred in late May, he said.
The news was first reported by Bloomberg.
Dear oversees CalPERS' $260 billion investment portfolio.
Pacheco said, "We have a highly competent professional staff to carry out our investment operations. Joe continues to work in the office and from home during his treatment."