Investment Officer Iii, Public Retirement System

Job Posting:
Infrastructure Investment Officer

Public Employees Retirement System

JC-534361

$10,681.00 - $12,738.00 per Month

Final Filing Date: 11/4/2026

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: This position is not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for a visa sponsorship now or in the future. CalPERS does not participate in E-Verify for employment authorization purposes.

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 of PLP 2025 leave credits per month. The salary range(s) included in the job advertisement do not reflect the 3 percent reduction in pay.

Permanent full-time employees who possess certification as a Chartered Financial Analyst may receive a monthly pay differential of 5%.

Every 12 months, based on performance evaluation, employees may receive a salary increase until they reach the maximum salary for the position.

Duties include but are not limited to:

• Sourcing and underwriting new investments across commingled funds, co-investments and separate accounts and assisting the Investment Manager in managing the existing portfolio.
• Developing and maintain fluency and knowledge of the infrastructure market, including assigned infrastructure managers, portfolios, operating and shareholder agreements.
• Participate in strategic planning and portfolio reporting projects and in making recommendations to Senior Management and Investment Committees.
• Participate in educational sessions and sector updates to develop sector investment expertise.
• Occasional domestic and/or potential international travel

• Moderate amount of travel.

You will find the Minimum Requirements in the Class Specification.

• INVESTMENT OFFICER III, PUBLIC EMPLOYEES RETIREMENT SYSTEM

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $651.46billion as of October 1, 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.

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!

To take a look at CalPERS as a destination employer, view this You Tube video.

Minimum Qualifications

All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements".

Please Note:

You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit the CalHR’s Cal Careers…