Job Description
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $544.18 billion as of May 27, 2025. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision and their decisions and actions are guided by our Investment Beliefs.
Our Private Equity (PE) team, part of the Investment Office (INVO), is seeking an Investment Director (ID) who will be responsible for supporting management of the PE program and will work with or coordinate INVO staff to advance our CalPERS mission of generating returns to pay pensions.
Duties include but are not limited to:
- Oversee top-down analysis of the portfolio and make recommendations to the Managing Investment Director, PE Senior Management, and the Investment Committee Board as required.
- Regularly review and monitor the portfolio composition, the investment pipeline, new investments made, and performance analytics such as: PME (Public Market Equivalent), TVPI (Total Value to Paid-In), DPI (Distributed to Paid-In Capital), IRR (Internal Rate of Return), and TWR (Time-Weighted Return), and market dynamics.
- Conduct due diligence on proposed investments by evaluating terms, financial statements, legal documents, partnership agreements, and other economic characteristics of investment alternatives, as well as monitor manager relationships.
Anticipated Interview Dates: We anticipate holding virtual interviews beginning the week of June 16. We look forward to meeting with you!
Telework Information: This position is eligible for hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.
Job Type: Full-time
Pay: $20,062.50 - $33,437.50 per month
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Paid time off
- Retirement plan
- Vision insurance
Schedule:
- Monday to Friday
Work Location: Hybrid remote in Sacramento, CA 95811