Shop Talk: A Conversation with Ted Eliopoulos
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 Dohrmannregarding recent challenges at CalPERS and the strategic plan’s conception and implementation.
What was it like when you first arrived at CalPERS? The market was just starting to tank, and the CalPERS portfolio was getting hammered. Did you have any idea of what you were getting yourself into? The short answer is yes and no. Yes, I had great familiarity with CalPERS as an institution. I understood completely