Private Equity Associate Investment Manager

Anticipated Interview Dates:
We anticipate holding virtual interviews approximately one month after the final filing date. We look forward to meeting with you!

Come join the CalPERS Private Equity team as we work toward our goal of enhancing equity returns to ensure retirement benefits to our members. Private Equity is a fast-paced, team-oriented environment providing many growth opportunities. We collaborate with noted General Partners from around the globe and you can contribute to the success of the nation's largest public pension fund.

Our Private Equity (PE) program is currently seeking an Associate Investment Manager (AIM) to be responsible for assisting with the day-to-day management and administration of the PE Program as directed and to act as lead for coordination and work review.

Duties include, but are not limited to:

• Lead investment analysis, including identifying drivers and detractors of investment performance; such items include performance by industry sector, purchase price multiple, leverage level, company size, geography, vintage year, and deal partner.
• Plan and conduct due diligence on proposed investments, evaluating terms, financial statements, legal documents, partnership agreements, and other economic characteristics of investment alternatives, including secondary market transactions such as purchase and sale agreement negotiations and pricing analysis.
• Make recommendations, advocate for new investments, and produce independent and detailed investment memos for the PE Team that evaluate the merits of proposed investments.

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.

Sponsorship:
CalPERS does not participate in E-verify for employment authorization purposes.

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You will find additional information about the job in the Duty Statement .

Working Conditions

• May assist with office coverage from 9:00 a.m.
  
  - 6:00 p.m.
• Periodic domestic or international travel may be required to conduct investment due diligence and/or to attend Limited Partners Advisory Board Meetings and Private Equity and related conferences.

Minimum Requirements You will find the

Minimum Requirements in the Class Specification.

• ASSOCIATE INVESTMENT MANAGER,PUBLIC EMPLOYEES` RETIREMENT SYSTEM

Additional Documents

• Job Application Package Checklist
• Duty Statement

Position Details Job Code #:
JC-518818

Position #(s):
-006

Working Title:

Private Equity Associate Investment Manager

Classification:
ASSOCIATE INVESTMENT MANAGER,PUBLIC EMPLOYEES` RETIREMENT SYSTEM $10,937.50 - $18,229.17

This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0 - 60% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 0 - 60% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.

# of Positions:
1

Work Location:

Sacramento County

Telework:
Hybrid

Job Type:
Permanent, Full Time

Department Information California Public Employees' Retirement System (CalPERS) is a global institutional investor and the nation's largest public pension fund, with assets of approximately $631.60 billion as of May 27, 2026. 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 the 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 .

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