Firms & Funds

CalPERS CIO, Fighting Cancer, Scales Back Schedule

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  • Joseph Dear reducing work load to deal with prostate cancer
  • Has led CalPERS investments since 2009 financial crisis
  • Theodore Eliopoulos handling some of Dear’s responsibilities

Dear, 62, has reduced his schedule at the $260 billion system while undergoing treatment for prostate cancer, according to Joe DeAnda, an information officer for CalPERS.

While Dear is working from home and at the office, Theodore Eliopoulos, senior investment officer for real estate, is handling day-to-day aspects of Dear’s job, according to a spokesperson for the fund.

Dear joined CalPERS in March, 2009, and led the pension fund during the depths of the global financial crisis.  

The value of CalPERS investments fell to $181 billion in fiscal year ended June 30, 2009, down from $237.9 billion in the same period ended in 2008. Under Dear, the fund built itself back up to $200 billion on June 30, 2010, and up to $248.8 billion by year-end, 2012.

Dear oversees all asset classes for CalPERS, as well as the strategic plan for the fund’s investment office.

Prior to joining the pension fund, Dear served as executive director of the Washington State Investment Board. He also worked as chief of staff for Washington State Governor Gary Locke. During the Clinton Administration he served as assistant secretary of labor at the Occupational Safety and Health Administration.

Dear earned a Bachelor of Arts degree in political economy from The Evergreen State College in Olympia, Wash.