Managing Director, Public Investments

Managing Director, Public Investments

Join to apply for the Managing Director, Public Investments role at The California Endowment
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This range is provided by The California Endowment. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

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The Investment team at The California Endowment is seeking a Managing Director, Public Investor to be a part of a highly motivated and collaborative Investment team co‑located in Los Angeles, Oakland, and San Diego (CA).

To ensure full consideration, please submit your application by January 31, 2026. Application review will begin shortly thereafter.

The California Endowment (The Endowment) is a private, statewide health foundation established in 1996 whose mission is to expand access to affordable, quality health care for underserved individuals and communities and to promote fundamental improvements in the health status of all Californians. We envision a California that leads the nation as a powerful and conscientious voice for wellness, inclusion, and shared prosperity.

Headquartered in downtown Los Angeles, the Endowment has regional offices in Sacramento, Oakland, Fresno and San Diego, with staff working throughout the state. We challenge the conventional wisdom that medical settings and individual choices are solely responsible for people’s health. We believe that health happens in neighborhoods, schools, and with prevention.

The California Endowment (TCE) resolved to begin a transition to align 100% of its $4.0 billion in assets with its mission, also known as going “All In,” while seeking to earn a market rate of return. Given the structure of the existing portfolio, responsibly shifting all the Foundation’s assets toward mission/impact and TCE’s vision will be an ongoing and evolving process across a long‑time horizon.

Implementation will require flexibility and practicality, balancing the Foundation’s payout requirement and financial obligations along with the supply of mission/impact investing opportunities, market factors, evolving best practices in the field and status of the Foundation’s assets.

The Investment Team is responsible for investing and managing the Endowments portfolio and bringing about the desired alignment with mission. To support these efforts, all members of the Investment Team are responsible for a set of activities and actions that seek best‑in‑class managers that can support the dual objectives of generating market rate returns and mission/impact alignment as defined in TCE’s Investment Policy Statement.

Reporting to the Chief Investment Officer (“CIO”), the Managing Director, Public Investments works closely with the CIO and the Investment Leadership Team in managing TCE’s invested assets. The Managing Director (MD) will provide oversight of portfolio strategy and construction, investment selection and monitoring of third‑party investment managers in public markets, across a range of asset classes, including, but not limited to, public equity, hedge funds, and fixed income.

The MD will assist the CIO with risk management as well as leadership of the Investment Team in support of the overall mission of The Endowment.

• Investment Management
  • Investment Sourcing
    • Work with the CIO in setting investment team strategic priorities
    • Lead investment strategy for the public asset classes as well as lead/manage the Public Investments Team
    • Develop/guide research projects to define investment opportunities
    • Lead the Public Investment Team during all phases of due diligence of existing and potential investment managers
    • Lead the Public Team in presenting investment recommendations to the CIO and Investment Department
    • Ensure the Public Investment Team keeps abreast of the investment manager landscape by actively networking with investment managers, peers, and consultants as well as through attendance at industry conferences
  • Investment Monitoring
    • Maintain strong relationships with investment managers as part of the investment monitoring process
    • Manage the process of analyzing investment manager progress in meeting the endowment’s…