Managing Director, Public Investments

Managing Director, Public Investments – The California Endowment

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$/yr - $/yr

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 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 public equity, hedge funds, and fixed income.

The MD will assist the CIO with risk management and lead the Investment Team to support the overall mission of The Endowment.

• Investment Sourcing – work with the CIO to set strategic priorities; lead investment strategy for public asset classes and the Public Investments Team; develop research projects; conduct due diligence on investment managers; present recommendations to CIO and Investment Department.
• Investment Monitoring – maintain relationships with investment managers; analyze performance; maintain conviction ratings; provide strategic recommendations to Investment Department and CIO.
• Risk Management – assist the CIO with portfolio‑level risk decisions, maintain oversight of public portfolio liquidity, collaborate with Private Investments MD, Director of Operations and CIO to manage liquidity for TCE’s grants and operations; assist with annual asset allocation and governance.
• Projects – assist team members with other parts of the endowment portfolio; complete other projects as assigned.
• Organizational – support a collaborative environment; develop and coach direct reports; co‑lead and mentor; work with Operations; assist with audit; prepare materials for Investment & Finance Committee and Board meetings; provide leadership in alignment with TCE’s mission and values; support training initiatives such as Advancing Racial Equity.

• Prior responsibility for oversight of selection of third‑party investment managers.
• 10+ years institutional investing experience, emphasis on public asset classes.
• Proven track record in manager selection and asset‑class strategy implementation.
• Experience building and managing a team.
• Experience presenting to stakeholders.
• Prior experience at an endowment or foundation (preferred).
• Capacity to travel domestically and internationally up to 50% of the time.

• 12 years managing investments, preferably for an endowment, foundation, or family office.
• Undergraduate degree in business or related field; CFA, CAIA or master’s degree preferred.
• 7+ years people‑management experience.
• Proficient in lead investment due diligence process end‑to‑end.
• Proficient with investment policy/legal documentation and negotiations.
• Experience collaborating in a diverse, multidisciplinary team.
• Excellent quantitative aptitude; abstract thinking.

• Accuracy – identify and correct mistakes; strong attention to detail.
• Problem Solving – strong analytical skills, sound judgment.
• Adaptability – self‑starter, manage competing priorities, embrace change.
• Relationship Management – establish rapport across all levels.
• Leadership – align team, enable collaboration, adjust to change.
• Process Management – focus on improving processes and efficiency.
• Team Orientation – receptive to feedback, take direction and lead.
• Communication – clear, thoughtful, thorough verbal and written skills.

Target Hiring Range: $368,000 - $450,000 base + incentive.

Full Hiring Range: $368,000 - $520,000 base + incentive.

• Shared medical and dental premiums for employees and eligible dependents.
• 100% employer‑paid benefits: vision, life & AD&D, STD, LTD, employee assistance program.
• Health Care and Dependent Care Flexible Spending Accounts.
• Reimbursement toward gym fees, wellness program, mental health care.
• 9-80 schedule with synchronized off days.
• Hybrid work schedule available for most positions.
• 11 paid holidays + paid winter holiday closure.
• Generous paid time off (PTO).
• 401(k) plan with generous employer match and…