Private Equity Investment Officer I NEW

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $571.55 billion as of August 21, 2025. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision, and their decisions and actions are guided by our Investment Beliefs.

If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website!

This position is being re-advertised. If you previously applied, your application is still being considered, and you do not need to reapply.

This position will run until filled with cutoff dates for review every other Sunday until filled. The first cutoff date will be 8/31/2025.

Interview Dates: We anticipate holding interviews on an ongoing basis until the position is filled. We look forward to meeting with you!

Our Private Equity program is currently seeking an Investment Officer I to assist with underwriting and monitoring a private equity fund and co-investment portfolio, and to support the CalPERS mission.

Duties include, but are not limited to:

• Assist with the underwriting of private equity investments, including funds and co-investments.
• Perform analytics on GP-provided diligence materials to create Excel tables and charts to be included in the investment memo, and draft the corresponding commentary within the memo.
• Assist with the monitoring of private equity funds and co-investments, including virtual and in-person meetings with the General Partner, advisory committee meetings, co-investment updates, and other meetings in a support role to more senior investment staff.
• Compile due diligence materials and legal documents as part of the closing binder process.

Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.

Effective July 1, 2025, The California Department of Human Resources (CalHR) implemented the Personal Leave Program 2025 (PLP 2025). PLP 2025 directs that each employee shall receive a 3 percent reduction in pay in exchange for 5 hours PLP 2025 leave credits, monthly. The salary range(s) included in the job advertisement do not reflect the 3 percent reduction in pay.

Job Type: Full-time

Pay: $4,238.00 – $8,049.00 per month

Work Location: Hybrid remote in Sacramento, CA 95811