Website California Public Employees’ Retirement System (CalPERS)
About California Public Employees’ Retirement System (CalPERS)
The California Public Employees’ Retirement System (CalPERS) is the largest public pension fund in the United States, with assets totaling approximately $627.93 billion as of May 2026. As a global institutional investor, CalPERS is known for its leadership and innovation, striving to serve its members, team, and community effectively. Headquartered in the vibrant downtown Sacramento, CalPERS offers a strategic location close to iconic Californian destinations such as Napa Valley, San Francisco, and Lake Tahoe. CalPERS commits to its mission of elevating the financial security and health of public employees and retirees in California. It maintains a firm dedication to diversity, equity, and inclusion in its workforce and policies and offers comprehensive employment packages that include competitive salaries and opportunities for advancement.
About this Role
The Sustainable Investments Associate Investment Manager at CalPERS plays a crucial role in promoting climate solutions within its private market portfolio. This position is integral to propelling CalPERS’ overall mission toward sustainable investing, primarily focusing on climate solutions. The Sustainable Investments (SI) team collaborates to ensure the effective management and strategic advancement of CalPERS’ diverse climate-focused investment endeavors. The successful candidate will be deeply involved in the process of underwriting for energy transition and climate solutions investments. Alongside tracking the investment landscape for climate solutions, the role supports the Investment Director in driving the development and execution of climate-related initiatives and reports. This position also seeks to reinforce CalPERS’ investment goals that are aligned with transparency and accountability.
Responsibilities
- Support the Investment Director and private asset class Investment Managers in underwriting energy transition funds and climate solutions co-investments.
- Map the private climate solutions investment landscape and monitor market developments.
- Contribute to tracking, measuring, and reporting the climate solutions exposure of the private markets portfolio.
- Contribute to achieving CalPERS’ objective to invest over $100 billion in climate solutions by 2030.
Requirements
- Advanced Business or Finance degree.
- CFA designation as a complement to qualifications.
- Extensive private markets experience, including sourcing, underwriting, and executing transactions in fund investments, co-investments, or direct investments.
- Proficiency in financial modeling, DCF analysis, project finance, and portfolio valuation.
- Ability to manage stakeholder relationships and experience in leading and mentoring junior professionals.
Benefits
- Annual incentive opportunity up to 60% of salary based on performance.
- Long-term incentive opportunities after five years.
- Alternate work schedules and flexible work hours.
- Onsite childcare and fitness center.
- Free onsite and offsite parking with shuttle service depending on the day.
- Additional benefits as outlined by the California Department of Human Resources.
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