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Investment chief of top U.S. pension fund Calpers dies after cancer

Joseph Dear, Chief Investment Officer of California Public Employees' Retirement System (CalPERS) speaks at the Milken Institute Global Conf
Joseph Dear, Chief Investment Officer of California Public Employees' Retirement System (CalPERS) speaks at the Milken Institute Global Conf

(Reuters) - The chief investment officer of Calpers, the largest pension fund in the United States, has died after a battle with cancer, his office said on Wednesday. He was 62.

Joe Dear, diagnosed with prostate cancer last year, had been on leave from the California Public Employees' Retirement System since last month for treatment.

"It is with tremendous sadness that Calpers announces the passing of Joseph A. Dear, our Chief Investment Officer," his office said in a statement.

Dear joined Calpers, California's $282 billion pension fund for public employees, as CIO in March 2009 after the value of its assets had dropped to about $165 billion.

He had previously served as executive director of the Washington State Investment Board.

Calpers said in June that Dear had been diagnosed with cancer and had begun treatment. He returned to work full-time in December before going on leave in January to resume treatment.

Ted Eliopoulos, senior investment officer for real assets at Calpers, had served as acting CIO during Dear's absence.

(Reporting by Barani Krishnan; Editing by Shri Navaratnam)

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