The California Public Employees’ Retirement System (CalPERS) has hired Paul Mouchakkaa as CalPERS' Senior Investment Officer (SIO) for real assets.

Mouchakkaa takes over the position on March 2, succeeding Ted Eliopoulos, who was appointed CalPERS Chief Investment Officer (CIO) in September 2014.

"Paul is a talented and experienced real estate professional, and we're thrilled to have him on our team," said Ted Eliopoulos, CalPERS CIO. "He has a proven track record of success and I’m confident that will continue at CalPERS. I look forward to working with Paul and welcome him to our senior management team."

Mouchakkaa will join CalPERS from Morgan Stanley Real Estate Investing, where he currently serves as Managing Director.

Before his current position he was Managing Director at Pension Consulting Alliance and was previously a Portfolio Manager in CalPERS' Real Estate group.

As SIO of Real Assets, Mouchakkaa will manage a 60-member professional staff, and be responsible for the implementation and management of investment strategy and policy for the Pension Fund's $29.6bn portfolio in real assets worldwide.

He will also contribute as a member of the Investment Office's senior management team in the development of the Fund's overall investment strategy.

Real Assets is made up of the Real Estate, Infrastructure, and Forestland programs.

The largest program, Real Estate, holds more than $25bn in retail, office, industrial, and other property assets.

Mouchakkaa, received a bachelor's degree with highest honors in economics from Carleton University, and an MBA from the University of Oregon.

CalPERS pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for nearly 1.4 million members and their families in our health program, making it the largest defined-benefit public pension in the U.S.

CalPERS' total fund market value currently stands at approximately $293bn.