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Investment Officer III - Direct Investments
- CalSTRS (Sacramento, CA)
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Job Posting: Investment Officer III – Direct Investments
State Teachers' Retirement System
JC-479141
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Investment Officer III – Direct Investments
INVESTMENT OFFICER III, STATE TEACHERS' RETIREMENT SYSTEM
$10,370.00 - $12,367.00 per Month
Final Filing Date:** **6/22/2025
Job Description and Duties
This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III 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 Investment Officer III – Direct Investments is expected to perform with a high degree of independence and serve as a high-level specialist to provide investment expertise in co-investment underwriting and portfolio management for the private equity industry. This position will be responsible for coordinating efforts to manage and co-monitor a portfolio of private equity partnerships and co-investments (primary and secondary) in the U.S. and internationally. Additionally, this position may be asked to work on efforts (underwriting or monitoring) outside of co-investments, but within the broader Private Equity ecosystem.
The ideal candidate will possess the following skills:
+ Undergraduate degree or possession of an advanced degree in finance, accounting, economics, mathematics, or other similar fields
+ Knowledge of investment principles
+ Knowledge of private market-based investment strategies (private equity, private credit, venture, secondaries, mezzanine, and distressed)
+ Experience within private markets, including all aspects of portfolio management, direct investment, investment manager selection, and diligence processes within an institutional environment
+ Experience in underwriting, investment due diligence and writing investment recommendation memos
+ Strong understanding of financial statements and accounting concepts
+ Strong financial modeling, portfolio analytics and presentation skills
+ Excellent written and verbal communication skills
+ Experience in interaction with external management consultants, advisors, and/or legal experts
+ Team player with a strong work ethic, high integrity, and desire to learn
+ CFA designation or other professional certification such as CAIA
An incumbent who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential.
Every 12 months, based on performance evaluation, employees may receive a 5% salary increase until they reach the maximum salary for the position.
Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.
You will find additional information about the job in the **Duty Statement (https://www.CalCareers.ca.gov/CalHrPublic/FileDownload.aspx?aid=27732831&name=815-310-7684-138\_InvestmentOfficerIII\_DS.pdf)** .
Working Conditions
All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.
This position is not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for visa sponsorship by the start date of employment with CalSTRS.
**Work Location:** This is a hybrid postion, which entails working in-office in San Francisco, CA two days a week and at CalSTRS in West Sacramento, as needed, with travel expenses reimbursed.
The San Francisco office, situated at 44 Montgomery Street in the heart of the San Francisco Financial District, is easily accessible from Montgomery BART and Muni stations, the San Francisco Ferry Building, and is bike-friendly.
Minimum Requirements
You will find the Minimum Requirements in the Class Specification.
+ INVESTMENT OFFICER III, STATE TEACHERS' RETIREMENT SYSTEM (https://hrnet.calhr.ca.gov/CalHRNet/SpecCrossReference.aspx?ClassID=7684)
Additional Documents
+ Job Application Package Checklist (http://calcareers.ca.gov/CalHrPublic/Jobs/JobApplicationPackageChecklist.aspx?JobControlId=479141)
+ Duty Statement
Position Details
Job Code #:
JC-479141
Position #(s):
815-310-7684-138
Working Title:
Investment Officer III – Direct Investments
Classification:
INVESTMENT OFFICER III, STATE TEACHERS' RETIREMENT SYSTEM
$10,370.00 - $12,367.00
\# of Positions:
1
Work Location:
San Francisco County
Telework:
Hybrid
Job Type:
Permanent, Full Time
Department Information
CalSTRS: Securing the financial future and sustaining the trust of California’s educators
CalSTRS is the largest educator-only pension fund in the world, providing retirement, disability and survivor benefits to California's more than 1 million public school educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately$351.6 billion as of April 30, 2025.In 2024, the CalSTRS Investments Branch was named one of the Best Places to Work in Money Management by the Pensions & Investments magazine for the tenth time since 2013.
CalSTRS is committed to setting best practice precedents, implementing innovative diversity and inclusion principles, motivating positive change, and advancing the worlds investment markets. We do this by establishing collaborative relationships across a vast network of investment managers, portfolio companies and industry associations in order to maximize returns and leverage opportunities for positive change.
Our two U.S. Green Building LEED Platinum-certified headquarters buildings in West Sacramento, California, feature sustainable construction, abundant natural lighting, an organic garden, sustainable beekeeping and ergonomic functionally designed workspaces. We offer a variety of on-site amenities to our team members, including two full-service cafés, two free fitness centers, a bicycle rental library and a child care center with a covered playground. Team members enjoy walks along the Sacramento River and nearby seasonal farmers markets.
In addition to our state-of-the-art amenities, we offer thriving wellness and sustainability programs, an award-winning employee recognition program, and ongoing training, learning and development opportunities. We offer competitive benefits, flexible work hours and hybrid work options. We are committed to creating a workplace where our team members thrive.
If you’re looking for a rewarding career and are interested in becoming part of a diverse and inclusive workforce where talent, expertise and wellness are valued, we encourage you to find out more about our many career options at **CalSTRS.com/about-CalSTRS** **.**
Special Requirements
Exam
This position requires a current **Investment Officer III, CalSTRS** examination. If you need to take the examination or if your score has expired,click here (https://calcareers.ca.gov/CalHrPublic/Exams/ExamBulletin.aspx?ExamControlId=1800) to gain list eligibility.
CalSTRS Personal Trading Program
Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees’ personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS.
Background Investigation
Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a _Personal History Statement_ and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.
CalSTRS Disclosure Requirements
This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code (https://www.calstrs.com/files/7e818a3e7/ConflictofInterestCode.pdf) that applies to CalSTRS team members and the Political Reform Act (https://www.fppc.ca.gov/the-law/the-political-reform-act.html) , which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700) (http://www.fppc.ca.gov/Form700.html) .
Application Instructions
Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date:6/22/2025
Who May Apply
Individuals who are currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available). SROA and Surplus candidates are given priority; therefore, individuals with other eligibility may be considered in the event no SROA or Surplus candidates apply.
Applications will be screened and only the most qualified applicants will be selected to move forward in the selection process.Applicants must meet the Minimum Qualifications stated in the Classification Specification(s).
How To Apply
Complete Application Packages (including your Examination/Employment Application (STD 678) and applicable or required documents) must be submitted to apply for this Job Posting. Application Packages may be submitted electronically through your CalCareer Account at www.CalCareers.ca.gov. When submitting your application in hard copy, a completed copy of the Application Package listing must be included. If you choose to not apply electronically, a hard copy application package may be submitted through an alternative method listed below:
Address for Mailing Application Packages
You may submit your application and any applicable or required documents to:
State Teachers' Retirement System
N/A
Attn:Recruitment
Sacramento,CA95851-0275
Address for Drop-Off Application Packages
You may drop off your application and any applicable or required documents at:
State Teachers' Retirement System
N/A
CalSTRS, Attn: Recruitment
100 Waterfront Place
West Sacramento,CA95605
08:00 AM-05:00 PM
Required Application Package Documents
The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:
+ Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at www.CalCareers.ca.gov. All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
+ Resume is required and must be included.
+ Other -A Cover Letter is required and must be included.
Applicants requiring reasonable accommodations for the hiring interview process must request the necessary accommodations if scheduled for a hiring interview. The request should be made at the time of contact to schedule the interview. Questions regarding reasonable accommodations may be directed to the EEO contact listed on this job posting.
Benefits
CalSTRS offers a competitive pay schedule and a work-life-balance for all itsemployees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:
+ Alternative work schedules
+ Flexible work hours
+ Remote work options
+ Medical benefits, including health, dental and vision insurance
+ Paid holidays and a defined benefit retirement program
+ More than four weeks of vacation/sick leave for leaders
+ More than three weeks of vacation/sick leave for staff
+ Health insurance in retirement
+ Employee Assistance Program
+ Loan forgiveness under the federal Public Service Loan Forgiveness Program (https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service)
For the latest information on the benefits offered by the state of California, explore theHealth Benefits Summary provided by CalHR (https://www.calhr.ca.gov/Pages/California-State-Civil-Service-Employee-Benefits-Summary.aspx) .
Contact Information
The Human Resources Contact is available to answer questions regarding the position or application process.
Human Resources Contact:
Recruitment
(916) 414-4990
Please direct requests for Reasonable Accommodations to the interview scheduler at the time the interview is being scheduled. You may direct any additional questions regarding Reasonable Accommodations or Equal Employment Opportunity for this position(s) to the Department's EEO Office.
EEO Contact:
EEO Officer
(916) 414-4933
California Relay Service: 1-800-735-2929 (TTY), 1-800-735-2922 (Voice)
TTY is a Telecommunications Device for the Deaf, and is reachable only from phones equipped with a TTY Device.
ADDITIONAL APPLICATION INSTRUCTIONS
+ **Electronic applications through your CalCareer account are highly recommended.** If you are unable to apply electronically through your CalCareer account, please mail or drop off a hard copy of your application packet. Please provide the following information on your application: RPA: 8190, JC-479141.
+ If education is being used to meet the minimum qualifications, please submit a copy of your transcripts/degree.
+ Training and Development (T&D) assignments may be considered for this position. If you are applying as a T&D, please indicate this in the eligibility section of your application.
+ Candidate may be selected by application packet review only.
+ Multiple positions may be filled from this recruitment.
+ Submission of an incomplete STD 678 may result in disqualification.
Equal Opportunity Employer
The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.
It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.
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