Portfolio Manager, Real Estate (Portfolio Manager)

Job Description and Duties The starting salary for this position will be set competitively and commensurate with the candidate’s qualifications and experience. This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary. The CalSTRS Investments Branch is seeking an experienced individual to work as an Portfolio Manager on the Real Estate team. The Real Estate units' primary objective is to provide stable cash flow and generate an enhanced yield while providing total fund diversification and an inflation hedge. Real Estate partners with best-in-class managers with common goals to create a portfolio of high quality assets. The portfolio includes allocations to core, value add and opportunistic risk strategies across property types globally. Under the general direction of the Director of Real Estate, the Portfolio Manager, Real Estate provides independent investment analysis, consultation, recommendations, and portfolio/asset management expertise as it pertains to real estate investments. The Portfolio Manager is responsible for managing, developing, and implementing a subset of the Real Estate Portfolio in support of the strategic objectives in the Real Estate Investment Policy requiring the highest degree of independence, confidentiality and discretionary judgment. The ideal candidate will possess the following skills: • Knowledge of Real Estate Investment principles and trends • Knowledge of real estate financing structures, including debt, equity, and joint venture capital stack considerations. • Education in Finance or closely related field • Experience in investment management, specifically in real estate markets • Experience managing and directing real estate manager/joint venture/operator agreements • Experience evaluating and implementing diversified real estate investment strategies across multiple property sectors. • Experience in portfolio management/risk analysis • Experience underwriting individual real estate asset analysis • Ability to research, analyze, and interpret information • Ability to prioritize workload and ensure deadlines are met. • Ability to work effectively with a broad variety of external contacts, such as consultants, investment managers, and investment partners • Ability to work effectively as an individual and as part of a team • Ability to present information clearly, both orally and in writing, to a wide range of audiences • Demonstrated ability to supervise internal staff, external consultants and coordinate cross functional stakeholders. An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analyst (CAIA) may receive a 5% monthly base paydifferential. Only one 5% base pay differential is eligible regardless of the number of certifications. Relocation benefits may be available. Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now. You will find additional information about the job in the Duty Statement. Special Requirements Exam This position requires a current Portfolio Manager examination. If you need to take the examination or if your score has expired, click here to gain list eligibility. CalSTRS Personal Trading Program Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees’ personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS. Background Investigation Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records. CalSTRS Disclosure Requirements This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code that applies to CalSTRS team members and the Political Reform Act, which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700). Incompatible Activities This position is subject to the provisions of Government Code Section 19990. Upon accepting a position at CalSTRS, you will also be required to comply with the CalSTRS Incompatible Activities Policy by ensuring that outside work or activities are compatible and align with your professional activities or workplace obligations.