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Salary: $7,794.00 - $9,023.00
Posted: 03/27/2013

Job Description:

When applying for this position, please note on your application: Position #815-310-7684-031 RPA (12-356). The salary listed for this classification will be adjusted accordingly to comply with the 2012 Personal Leave Program.

Under the direction of the Director of Private Equity or designee, and the direct coordination of four portfolio managers, the Investment Officer III will provide with the greatest degree of independence, investment expertise to staff and the CalSTRS Investment Committee in the areas of private equity market analysis, strategy, fund and co- investment portfolio management. As of June 2012, this position will be responsible for co-managing a portfolio of approximately 115 domestic and international private equity partnerships and 50 co-investments with a combined market value of about $22 billion. Duties Include:

  • Coordinate and lead investment officers in the analysis, due diligence and sourcing of top tier relationships in the global private equity market; collaborate in the sourcing, due diligence analysis and negotiation of co-investment and secondary interest investment opportunities; perform analysis and evaluation of the risk profile of the portfolio utilizing the portfolio allocation model and other techniques as appropriate.
  • Provide leadership, program support and oversight for the management of the private equity portfolio, including: Spearhead efforts to develop a comprehensive strategy for the portfolio based upon the incumbents economic forecast and outlook for capital market returns; manage a portfolio of domestic and international private equity funds including buy-out, venture capital and special situation funds with total return objectives as defined by policy guidelines; review and evaluate the relative value of various private equity market segments to determine the optimal portfolio structure consistent with the current strategy and investment policy.
  • Provide leadership to the portfolio managers and prepare plans and strategies for portfolio development; lead the development of the Private Equity Business Plan that is recommended to the Chief Investment Officer and ultimately the CalSTRS Investment Committee; support the Director of Private Equity as required and provide leadership to the team in a variety of objectives; oversee and coordinate private equity consultants, advisor(s) and other service providers (lawyers, book of record, independent fiduciaries, etc.); establish and maintain professional contacts within the private equity industry to further develop market knowledge and expertise and promote the CalSTRS private equity program; represent CalSTRS at investment and private equity meetings to communicate CalSTRS objectives for the successful development of the portfolio; monitor the total portfolio with careful scrutiny of fiduciary standards, performance measurement and policy compliance for a variety of investments such as fund investments, secondary interests, co-investments and others; provide support to the CalSTRS investment group and other related activities.
  • Other duties as requested by the portfolio managers and Director.

Desirable Qualifications

  • Highly motivated self-starter with a strong work ethic and a high degree of integrity.
  • Demonstrated ability to act collaboratively and work as part of a cross-functional team.
  • Excellent written and verbal communication skills.
  • Strong leadership and team management skills.
  • Experience in the investment or financial services field.
  • Material knowledge of global markets, economics, and portfolio theory.
  • Investment management experience with a financial institution, pension fund, endowment or foundation.
  • Experience with implementation and administration of investment legal agreement terms and conditions.
  • Master's degree from an accredited college or university, with major coursework in investments or finance is preferred. If coursework outside these areas, a CFA designation is preferred.

Agency Description

The California State Teachers’ Retirement System is a Special Fund Agency. We are the largest teachers’ retirement fund in the United States. Our primary responsibility is to provide retirement related benefits and services to teachers in public schools from kindergarten through community college.

Our employee recognition program, Virtuosity, garnered the 2012 Best Practice Standards Award for Best Overall Recognition Program from Recognition Professionals International! The international award celebrates employee recognition innovations that enhance organizational performance. This award is a clear recognition of our employer of choice commitment, as CalSTRS continues to emphasize the importance of our core values and mission statement.

CalSTRS Core Values: A set of attitudes, beliefs and behaviors that define CalSTRS and its employees.

  • Customer Service: We never compromise on quality as we strive to meet or exceed the expectations of our customers.
  • Accountability: We operate with transparency and accept responsibility for our actions.
  • Leadership: We model best practices in our industry and innovate to achieve higher standards.
  • Strength: We ensure the strength of our system by embracing a diversity of ideas and people.
  • Trust: We conduct ourselves with integrity, acting ethically in every endeavor.
  • Respect: We respect the needs of our members, co-workers, and others, treating everyone with fairness, honesty, and courtesy.
  • Stewardship: We recognize our fiduciary responsibility as the foundation for all decision-making.

CalSTRS Core Competencies: Behavioral characteristics that are essential for the success of each contributor and are directly related to the success of CalSTRS as a whole.

  • Adaptability / Flexibility: Adapts well to changes, approaches change positively, and adjusts behavior accordingly.
  • Communication: Demonstrates applicable job-related written, oral, and listening skills.
  • Customer / Client Focus: Identifies and responds to current and future client needs.
  • Teamwork: Participates as an active and contributing member of a team to achieve team goals.
  • Work Standards / Quality Orientation: Sets high quality work standards while displaying a high level of effort towards completing assignments in a timely manner.

The following appointment options may be considered when filling this position: list appointments, lateral transfers, reinstatements, training and development assignments, out-of-class assignments, limited-term appointments, etc. To find out how to become a civil service employee, please go to the State Personnel Board’s website at:

(1) 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.

(2) The position may be subject to the disclosure and disqualification requirements concerning economic conflict of interest in government work, pursuant to the CalSTRS Conflict of Interest Code and the Political Reform Act.

(3) Applicants will not be considered if the application is not completed appropriately and/or if required additional information is not submitted with the application.

How to Apply:

Interested individuals should submit a STD 678, Examination and/or Employment Application (Rev. 12/06 or later) to the address below. Surplus applicants must attach a copy of their letter. The STD. 678 can be accessed through the State Personnel Board website at

Additional Information:

Working Title Position Number
Investment Officer III 815 - 310 - 7684 - 031
Will also consider hiring a(n)
Location County
Investments / Private Equity YOLO
Timebase Tenure
Full Time Permanent   month(s)
Final Filing Date: Department Link:
04/08/2013 None Specified
Contact Unit/Address Contact Name/Phone
State Teachers' Retirement System - CalSTRS
PO BOX 15275
Sacramento, CA 95851
Human Resources - 310-7684-031

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Notice: If you are not a current or former State employee, you must first take an examination to obtain list eligibility. This does not apply to Student Assistant vacancies. Learn all about it.

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.