Mouchakkaa to Head CalPERS’ Real Assets Team

Leaving Morgan Stanley to manage the pension’s $29.6B portfolio

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Morgan Stanley’s Paul Mouchakkaa has been named head of CalPERS $29.6B real assets portfolio.

As senior investment officer, Mouchakkaa will oversee real estate, infrastructure and forestland, and manage roughly 60 investment staff and 81 GP relationships.

Thomas McDonagh has been acting senior investment officer for real assets since April 2014, when the former real assets chief, Ted Eliopoulos, became interim CIO of the $296.5B public pension. Eliopoulos was named CIO in September 2014. McDonagh retained his role as senior portfolio manager of the CalPERS’ global fixed-income group during his time as head of real assets.

In a statement, Eliopoulos said the pension was “thrilled” to have Mouchakkaa join the team. “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 is no stranger to CalPERS, having served as a portfolio manager overseeing research, operations and analytics for the real estate portfolio between 2007 and 2009. He joined Morgan Stanley Real Estate Investing (MSREI) as global head of research and strategy in 2011, having previously worked at the consulting firm, PCA, between 2005 and 2007, and 2009 and 2011.

Mouchakkaa will start on March 2.

Updates original breaking news story