Portfolio Manager
As the nation’s largest public pension fund, managing assets of $264.7 billion as of May 13, 2013, the California Public Employees’ Retirement System (CalPERS) is committed to a work environment and culture centered on core values of quality, respect, integrity, openness, communication, balance, and accountability. We’re looking for talented, enthusiastic people who share these same values.
CalPERS seeks a Portfolio Manager (PM) to work under the general direction of the Senior Portfolio Manager (SPM) of Private Equity (PE). The PM assigned to the position identified above demonstrates the CalPERS Core Values (Quality, Respect, Integrity, Openness, Accountability, and Balance), works well as a member of a team, and takes initiative in effectively performing the following functions:
Duties include but are not limited to:
• The primary focus of this job is to monitor and manage both partnership and direct private equity investments.
• The position will also establish and maintain relationships with an assigned group of partnerships and/or direct investments in order to evaluate performance relative to multiple quantitative and qualitative thresholds over the life of the investment.
• Attend annual meetings, attend advisory board meetings, and conduct quarterly monitoring calls in order to develop and express a current opinion on every investment assigned for coverage.
• Mentor and train private equity investment staff in the proper conduct of managing and monitoring private equity investments.
• On a limited basis, the portfolio manager may participate in due diligence for the purpose of evaluating new commitments to existing strategic relationships, co-investments, new investments and direct investment opportunities.
Minimum Requirements and Experience:
• Bachelor’s degree in business administration, economics, finance, or a closely related field
• Five years of broad and extensive investment management experience for a major financial institution or firm, or government agency, including some experience leading or coordinating professional staff, and review of large and varied investment portfolio
Desirable Qualifications:
• At least 5 years managing a portfolio of private equity fund relationships for the benefit of a pension plan, foundation or endowment ( 10 years or more of experience is preferred).
• Institutional experience working in other asset classes; private markets is highly desirable
• MBA or possession of an advanced degree in finance, investment management, accounting or business administration
• Professional certification such as a CFA is strongly preferred;Other professional certifications such as a CPA, CAIA
• Demonstrated experience leading and mentoring less seasoned investment professional
• Attention to detail
• Demonstrated ability to be a contributing member of a collaborative team
• Ability to communicate clearly, both orally and in writing
• Ability to work independently and under short time constraints
• Solid understanding of Financial Statements
• Strong interpersonal and leadership skills
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