CalPERS CIO Passes After Cancer
Joseph Dear passed away at age 62 from prostate cancer according to a statement from CalPERS. His illness was made public in June 2013. Dear was the chief investment officer of CalPERS, taking the helm in March 2009 when the fund suffered a US$ 96 billion loss.
Under Dear’s investment watch, pension assets surpassed pre-recession levels in May 2013. In 2013, CalPERS returned 16.2%, the largest gain in 11 years.
According to the official CalPERS Facebook post, “Ted Eliopoulos will continue as the Acting Chief Investment Officer until the CalPERS Board of Administration makes any announcements about a search for a new Chief Investment Officer.”
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