Shop Talk: A Conversation with Ted Eliopoulos, Part II
CalPERS recently adopted a new five-year “back to basics” strategic plan. The plan redefines the role of real estate within the larger portfolio and will drastically reshape the pension plan’s real estate portfolio. Ted Eliopoulos, CalPERS’ senior investment officer, real estate, recently spoke with Institutional Real Estate, Inc.’s CEO and editor-in-chief Geoffrey Dohrmann regarding recent challenges at CalPERS and the strategic plan’s conception and implementation. This is part II of the interview; the first installment appeared in the May issue of The Institutional Real Estate Letter – North America.
You recently announced that the board has approved a new strategic plan for the real estate asset class. To what extent was that plan based on some of the lessons you’ve learned from the manager review process? The main salient feature