This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager 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, growth equity, 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 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!
Under the general direction of the Portfolio Manager, the Associate Portfolio Manager – Direct Investments will participate in co-investment underwriting (primary and secondary), assist in sourcing co-investments, and monitor co-investments individually and broadly across the portfolio. This position will also participate in partnership and other transaction type underwriting. This position is the entry management level and will participate in the day-to-day implementation of investment strategies and help build and lead a team that originates, executes, manages, and monitors co-investment transactions (primary and secondary) in the U.S. and internationally.
The ideal candidate will possess the following skills:
- 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
- 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
- MBA or possession of an advanced degree in business, finance, economics or other
- related field
- CFA designation or other professional certification such as CAIA
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
