The California Public Employees' Retirement System (CalPERS) has named Tom McDonagh as acting senior investment officer for real assets. McDonagh is taking over for Ted Eliopoulos, who has been named interim chief investment officer following the passing of the late Joe Dear.
"Tom is a valued part of our team, and has both the investment and management experience needed to lead the asset class," said Eliopoulos. "I look forward to working with Tom and welcome him to the senior management team."
As acting SIO, McDonagh will be responsible for implementation and management of investment strategy and policy for the pension fund's $27.8 billion portfolio of real estate assets worldwide. CalPERS is one of the largest and most recognizable public pension funds in the country with more than $280 billion in assets.
Currently a senior portfolio manager in the global fixed income asset class, McDonagh joined CalPERS in 2010 after serving as chief investment officer at both Freedom Mortgage and American Home Mortgage. Before that he served as a portfolio manager for CalPERS following positions at Vanderbilt Capital Advisors and Lazard Freres Asset Management.
McDonagh holds an MBA in finance from the Lubin School of Business at Pace University in New York and earned his bachelor's degree in economics from Hobart College.