Infrastructure Investment Officer

Equal Opportunity Employer The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.

• Job Code #: JC-534361
• Position #(s): -011
• Working Title: Infrastructure Investment Officer
• Classification: INVESTMENT OFFICER III, PUBLIC EMPLOYEES RETIREMENT SYSTEM
• Salary Range: $10,681.00 - $12,738.00
• Annual incentive opportunity is 0-20% of salary and is based on the level of achievement against several quantitative and qualitative measures; permanent full-time employees who possess certification as a Chartered Financial Analyst may receive a 5% monthly base pay differential.
• # of Positions: 1
• Work Location: Sacramento County
• Telework: Hybrid
• Job Type: Permanent, Full Time

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

CalPERS is one of the largest global private infrastructure investors, with investments in sectors such as digital infrastructure, renewables, power, energy, and transportation. This role offers a unique opportunity to help grow the portfolio, working with top global infrastructure managers and gaining hands‑on experience in evaluating and managing infrastructure investments.

A strong work ethic and passion for investing are essential for candidates seeking to grow their expertise in this role.

• 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 maintaining fluency and knowledge of the infrastructure market, including assigned infrastructure managers, portfolios, operating and shareholder agreements.
• Participating in strategic planning and portfolio reporting projects and in making recommendations to Senior Management and Investment Committees.
• Participating in educational sessions and sector updates to develop sector investment expertise.
• Occasional domestic and/or potential international travel.

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.

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.

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.