Associate Portfolio Manager - Direct Investments (Associate 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 50% of base salary. The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manger on the Private Equity team. Established in 1988, CalSTRS Private Equity program invests globally in partnerships, separate accounts, general partner interests, secondary interests and co-investments. Investments include buyouts, growth equity, debt-related and venture capital. External advisors support the program by providing investment selection advice, research and gate-keeping services. Private Equity is a fast-paced, team-oriented environment with opportunities for training and advancement. While collaborating with some of the best general partners, advisors, consultants and attorneys, you will contribute to the success of one of the largest Private Equity programs in the world. Team members will collaborate with the broader CalSTRS Investment Office and engage in projects ranging from evaluation of co-investments, secondary transactions, and other private equity investment strategies. Under the general direction of the Portfolio Manager, the Associate Portfolio Manager – Direct Investments will participate in co-investment underwriting (primary and secondary), assist in sourcing co-investments, and monitor co-investments individually and broadly across the portfolio. This position will also participate in partnership and other transaction type underwriting. This position is the entry management level and will participate in the day-to-day implementation of investment strategies and help build and lead a team that originates, executes, manages, and monitors co-investment transactions (primary and secondary) in the U.S. and internationally. The ideal candidate will possess the following skills: • Broad and extensive experience in US and non-US private markets • Proven and successful experience record of private market investments • Commitment to strong governance, transparency and compliance practices • In-depth knowledge and experience investing across various private equity investment vehicles including funds, co-investments, direct investments, and other transaction types • Work effectively with a broad variety of external contacts, such as consultants, investment managers, and investment partners • Excellent presentation skills, and outstanding verbal and written communication skills • An advanced degree in business, finance, economics or other related field • CFA designation or other professional certification such as CAIA 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 Associate 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.