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CalPERS picks Ted Eliopoulos to be investment chief
CalPERS picks Ted Eliopoulos to be investment chief

California's huge pension fund has turned to a trusted insider to take over the daunting job of directing almost $300 billion in investments, crucial to the retirement of more than 1 million current and former state and local government workers. After a nationwide search, the California Public Employees' Retirement System said Wednesday that it had picked Ted Eliopoulos, a seven-year investment expert at the fund who has been the interim chief investment officer since February. Just this week, Eliopoulos, 50, of Sacramento, guided the CalPERS board through its decision to sell $4 billion in complex and costly hedge fund investments over the next year. Many market watchers...