Home ListingApril 11, 2016

CalPERS Hiring for In-House Private Equity Team

The $291 billion public pension fund seeks a staffer to oversee strategic private equity partnerships, co-investments, and funds-of-funds.

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The California Public Employees’ Retirement System (CalPERS) is seeking a new investment manager for its private equity team.

According to the job posting, America’s largest public pension system needs a staff professional to oversee strategic private equity partnerships, co-investments, and funds-of-funds.

The full-time position at CalPERS’ Sacramento investment office will pay between $140,000 and $220,500.

The new manager would be responsible for developing and maintaining relationships with strategic partners and co-investors, conducting ongoing due diligence, and evaluating investment performance. The position oversees a group of investment officers within the private equity team and includes planning and supervising the workload for each assigned officer.

The ideal candidate has Chartered Financial Analyst certification and at least five years of experience managing a portfolio—preferably alternatives—at a pension, endowment, or foundation, with a “progressive increase in responsibilities over time.” Applicants should have “demonstrated leadership experience mentoring and teaching less experienced investment personnel,” CalPERS said.

Candidates should be able to maintain an up-to-date knowledge of economic and investment trends and ideas, set reasonable benchmarks and performance criteria for investments, and manage assigned portfolios according to CalPERS’ risk and return objectives.

The fund’s private equity portfolio achieved $24.2 billion in net gains since the program’s inception in 1990, the “highest net returns in our portfolio,” said CIO Ted Eliopoulos in November.

“As a long-term investor, it is an important piece of our investment strategy and our mission,” he concluded.