California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $493.34 billion as of May 29, 2024. 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.

Under the direction of the RA Associate Investment Manager (AIM) and/or RA Investment Manager, the Investment Officer III (IO III) is principally responsible for sourcing and underwriting new investment opportunities, managing the existing portfolio, and research and strategic planning. The IO III will maintain a positive team approach while demonstrating CalPERS’ Core Values of Quality, Respect, Integrity, Openness, Accountability, and Balance in accordance with personal work ethic in alignment with CalPERS Investment Beliefs.

Duties include but are not limited to:

• Sourcing and underwriting of new investment opportunities, including new partnerships (e.g., commingled funds or separately managed accounts) and single assets and/or platforms (direct investments, co-investments, or investments falling outside partners delegated authorities)
• Lead in the review of due-diligence materials (including, among others, financial statements, advisors’ reports, financial model, legal documents, and investment memorandums).
• Develop financial forecasts, including Microsoft Excel model creation and/or manipulation of an existing one, with a focus on valuation, scenario analysis, risk assessment, business analysis, and the review and analysis of key qualitative and quantitative metrics.
• Negotiation and drafting of legal documentation, including term sheets and partnership agreements, with the assistance of external and internal legal counsels.

Interview Dates: We anticipate interviews to be held one month from the final filing date.

Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.

Job Type: Full-time

Pay: $10,068.00 - $12,007.00 per month

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Retirement plan
• Vision insurance

Work Location: Hybrid remote in Sacramento, CA 95811