Private Equity Investment Officer III

About the role

The California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $652.12 billion. Headquartered in downtown Sacramento, CalPERS offers a mission‑driven workplace near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and provides competitive benefit packages, compensation, and opportunities for advancement.

Responsibilities

• Lead the negotiation of legal terms governing private equity investments, including Limited Partnership Agreements (LPAs) and Side Letters.
• Support the lead Investment Manager in Co‑Investment activities, refining investment strategy, optimizing team workflows, and developing core tools and marketing materials (e.g., underwriting templates, sector research libraries, training guides).
• Perform quick‑turn analysis and deliver strategic input in response to ad‑hoc requests from the Investment Committee, CEO, CIO, and key stakeholders.
• Coordinate day‑to‑day operations, review work, and mentor junior investment staff.
• Support the strategic administration of the Private Equity program.

Requirements

Applicants must meet the Minimum Qualifications (MQs) as defined in the Classification Specification for Investment Officer III, Public Employees’ Retirement System. All relevant experience and education should be documented in the application. This position is not eligible for visa sponsorship; applicants must be authorized to work in the U.S. without the need for sponsorship now or in the future.

Benefits

• Competitive benefit packages and compensation.
• Annual incentive award of 0‑20% of salary based on performance.
• Charter Financial Analyst (CFA) pay differential: 5% monthly base pay for certified CFAs.
• Hybrid work schedule: up to two days of remote work per week.
• Opportunities for advancement within CalPERS.
• Located in downtown Sacramento near Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations.

Pay

Salary range: $10,681.00 – $12,738.00 per month. Eligible for annual incentive award (0‑20% of salary) and CFA pay differential (5% monthly base pay). Note: Effective July 1, 2025, the Personal Leave Program 2025 (PLP 2025) applies a 3 % pay reduction in exchange for 5 hours of leave credits monthly; the advertised salary range does not reflect this reduction.

Schedule

Permanent, full‑time position with a hybrid work schedule: up to two days of remote work and three or more days onsite per week.