The California Public Employees' Retirement System (CalPERS) and its Chief Investment Officer Ted Eliopoulos have been awarded the 2015 Asset Owner Award for Public Defined Benefit Plans above $100 Billion by Chief Investment Officer (CIO) Magazine. The award was presented to Eliopoulos Thursday evening during the magazine's sixth annual Industry Innovation Awards at the New York Public Library.
"Mr. Eliopoulos, the CalPERS Board, and investment staff are clearly deserving of this award," said Leanna Orr, Managing Editor of CIO Magazine. "The Fund consistently demonstrates leadership among large pension funds."
The awards are presented to the best in global institutional investing. CIO Magazine stated CalPERS was selected because of its cutting-edge leadership and management of institutional assets. Most notably, CalPERS was tapped for its decision to eliminate hedge funds from its investment portfolio, the reduction in external managers, costs and complexity throughout its investment program, and its groundbreaking work on reporting private equity carried interest.
"We are extremely honored to receive this award," said Anne Stausboll, CalPERS Chief Executive Officer. "Ted and his investment team have used their talent, skill, and tenacity to protect and grow the assets of our members and their families. It is wonderful to see them recognized for their accomplishments."
"This award belongs to every member of our investment office," said Eliopoulos. "They are the unsung public servants who dedicate themselves daily to managing CalPERS funds for generations to come."
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $295 billion.
CalPERS has a long-standing commitment to sustainable investments and business operations. Through December 20, test your knowledge and learn more about our efforts by taking our weekly Sustainability Quiz.
