Investment Officer III – Direct Investments
The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III on the Private Equity team.
Established in 1988, CalSTRS Private Equity program invests globally in partnerships, separate accounts, general partner interests, secondary interests and co-investments. Investments include buyouts, equity expansion, debt-related and venture capital. External advisors support the program by providing investment selection advice, research and gate-keeping services.
Private Equity is a fast-paced, team-oriented environment with opportunities for training and advancement. While collaborating with some of the best general partners, advisors, consultants and attorneys, you will contribute to the success of one of the largest Private Equity programs in the world. Team members will collaborate with the broader CalSTRS Investment Office leaders and engage in projects ranging from evaluation of co-investments, secondary transactions, and other private equity investment strategies.
Come join the Private Equity team as we work toward our goal of enhancing equity returns and ultimately ensuring retirement benefits for California’s educators!
Responsibilities of the Investment Officer III include:
- Performing due diligence and underwriting on all co-investments (primary and secondary) and other transaction types (partnerships, strategic relationships, special situations, etc.).
- Reviewing and analyzing the co-investment portfolio risk and total return to determine the optimal portfolio structure consistent with the current strategy and investment policy.
- Implementing the co-investment strategy to support the optimal portfolio structure that meets or exceeds the total return objectives of the Private Equity Program and the overall Fund.
- Monitoring the total portfolio with careful scrutiny of fiduciary standards, performance measurement and policy compliance for co-investments and provide support to the CalSTRS investment group and other related activities.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary.
An Investment Officer III who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential.
The ideal candidate will be results oriented with proven knowledge and experience with investment in private equity or a related field.
In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
- MBA or possession of an advanced degree in business, finance, economics or a related field
- Broad and extensive experience in US and non-US private markets
- Proven and successful experience record of private market investments
- Commitment to strong governance, transparency and compliance practices
- In-depth knowledge and experience investing across various private equity investment vehicles including funds, co-investments, direct investments, and other transaction types
- Experience managing, mentoring and developing staff
- Commitment to fostering a collaborative work environment
- Ability to work effectively with a broad variety of external contacts, such as consultants, investment managers, and investment partners
- Ability to work well-independently and with Senior Management and deal teams
- Compelling presentation skills, and outstanding verbal and written communication skills
- CFA designation or other professional certification such as CAIA
CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:
- Alternative work schedules
- Flexible work hours
- Remote work options
- Medical benefits, including health, dental and vision insurance
- Paid holidays and a defined benefit retirement program
- More than four weeks of vacation/sick leave for leaders
- More than three weeks of vacation/sick leave for staff
- Health insurance in retirement
- Employee Assistance Program
- Loan forgiveness under the federal Public Service Loan Forgiveness Program
For the latest information on the benefits offered by the state of California, explore the Health Benefits Summary provided by CalHR.