Senior Portfolio Manager
CalPERS seeks a Senior Portfolio Manager (SPM) to work under the general direction of the Senior Investment Officer (SIO) of Private Equity (PE). The SPM 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:
• Manages the implementation of investment strategies and policies with respect to the more sophisticated co-investments
• Oversees analysis, evaluates current investments and recommends to the SIO, PE Senior Management and the Investment Committee Board as required, new co-investments and direct investments
• Assists the SIO in the supervision of Portfolio Managers (PM) and Investment Officers (IO) and the oversight and evaluation of consultants and external advisors relating to the Co-Investment Program
• Implements strategy and policy for alternative investments
• Personally negotiates complex and sensitive co-investments and other private equity agreements such as direct investment and/or secondary transactions
• Assists in the selection and supervision of Portfolio Managers and Investment Officers in the PE Unit, and in the selection of external advisors
Minimum Requirements and Experience:
• Experience: Two years of experience in the California state service performing the duties of a Portfolio Manager, Public Employees' Retirement System.
OR
• Seven years of broad and extensive investment management experience for a major financial institution or firm, or governmental agency, including some experience in leading or coordinating professional staff, and review of a large and varied investment portfolio. Qualifying State experience must be at a level comparable to that of a Portfolio Manager, Public Employees' Retirement System.
Desirable Qualifications:
• MBA, or possession of an advanced degree in finance or another applicable technical field.
• Professional certification such as a CPA, CFA, or CAIA is preferred.
• Excellent communication skills both verbal and written.
• Experience in non-US private markets; a global perspective is essential
• Proven and successful experience record of private market investment.
• In-depth knowledge and successful experience investing across various vehicles within the private equity sector to include exposure to con-investments, direct investments, and fund of funds.
• Commitment to strong governance practices, transparency and compliance rigor.
• Experience mentoring and developing staff.
• Ability to synthesize information quickly and to prioritize tasks, balancing the needs/demands of multiple constituencies and deadlines.
• Decisiveness combined with a commitment to foster a collaborative work environment.
• Attention to detail; strong analytical skills are essential.
• Fluency in another language is desirable.
• International experience or other characteristic that is unique is desirable.
• Demonstrate a commitment to diversity throughout his/her career.
• Demonstrate core values of character and integrity.
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