CalPERS hired a Wall Street executive – a former manager at the pension fund – to run its real estate portfolio, it was announced Wednesday.
Paul Mouchakkaa, a managing director at Morgan Stanley Real Estate Investing, was named senior investment officer of CalPERS’ nearly $30 billion real assets group. The group includes the California Public Employees’ Retirement Systems’ $25 billion real estate portfolio, plus smaller holdings in forestland and infrastructure.
Mouchakkaa replaced Ted Eliopoulos, who became the pension fund’s chief investment officer last September.
Before working at Morgan Stanley, Mouchakkaa was with Pension Consulting Alliance, a firm that advised CalPERS and other funds. He previously was a real estate portfolio manager at CalPERS.
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