Portfolio Manager - Direct Investments
The CalSTRS Investments Branch is seeking an experienced individual to work as a 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, equity expansion, 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!
Responsibilities of the Portfolio Manager include:
- Managing, developing and implementing a comprehensive strategy for the co-investment program (primary and secondary) in order to determine the optimal portfolio structure that meets or exceeds the total return objectives of the Private Equity Program and the overall Fund.
- Sourcing co-investment opportunities (primary and secondary) from private asset investment managers (both existing and potential).
- Analyzing and reviewing program-wide performance quarterly while recommending and implementing program adjustments as required.
- Planning, developing, and leading staff in the execution of co-investment (primary and secondary) transactions and the required portfolio monitoring and management.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 100% of base salary, increasing to 125% in the next fiscal year July 1, 2020.
A Portfolio Manager 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.
The ideal candidate will be results oriented with proven knowledge and experience with investment in private equity and portfolio analytics.