Investment Analyst

Job Description and Duties

Anticipated Interview Dates: We anticipate holding virtual interviews two weeks after the final filing date. We look forward to meeting with you!

Our Real Assets (RA) unit is currently seeking an Infrastructure Investment Officer I (IO I) to perform a full range of duties which includes independent review for sourcing and underwriting new investment opportunities, managing assigned portfolios, market/sector research and strategic planning and drive our CalPERS mission.

Duties include but are not limited to:

• Perform asset management duties for assigned partnerships and assets. Use various investment reports and platforms to monitor portfolio activity and performance to ensure fluency and knowledge of the assigned managers, portfolios, assets, markets and operating agreements.
• Contribute to the implementation of the RA Strategic Plan, by researching and conducting investment analysis, and oversight work and making recommendations to the RA Associate Investment Manager. This may include but not limited to the sourcing and underwriting of new Infrastructure investment opportunities, including new partnerships (e.g. commingled funds or separately managed accounts) and single assets and/or platforms (direct investments, co-investments, or investments falling outside partners delegated authorities).
• Participate in the development and regular update of strategic plans and research reports typically focused on specific sectors, geographies, or trends; tasks include the sourcing, gathering, organization, application, and presentation of data and research.

Telework Information : 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.

Sponsorship: This position is not eligible for visa sponsorship. Applicants must be authorized to work in the United States without the need for visa sponsorship. CalPERS does not participate in E-Verify for employment authorization purposes.

Effective July 1, 2025, The California Department of Human Resources (CalHR) implemented the Personal Leave Program 2025 (PLP 2025). PLP 2025 directs that each employee shall receive a 3 percent reduction in pay in exchange for 5 hours PLP 2025 leave credits, monthly. The salary range(s) included in the job advertisement do not reflect the 3 percent reduction in pay.

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Special Requirements

Minimum Qualifications

All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements."

Please Note: You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit the CalHR’s CalCareers website .

Career Services & Outreach

Need help with your state application, resume, Statement of Qualifications, or interview preparation?

The CalPERS Career Services & Outreach (CSO) team provides comprehensive support throughout the CalPERS hiring process. Our services include one-on-one online consultations for application assistance, Statement of Qualification review, and interview preparation. To schedule an appointment and receive personalized guidance from our team, please use the following booking link: CalPERS Career Services Consultations .

Desirable Qualifications

In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:

• A comfort and appreciation for operating in a team and consensus driven environment is a key aspect underlying success in the CalPERS environment.
• A high degree of initiative, professionalism, confidentiality, and able to work well under pressure in a fast-paced environment.
• Flexibility in adapting to changes in priorities, assignments, and other interruptions which may impact preestablished timelines and courses of action.
• Excellent written and verbal communication, attention to detail, and organizational skills.
• Possession of an advanced degree, such as MBA, or certifications such as CFA, CPA, CAIA, or other equivalent financial or accounting certification.
• Strong analytical skills with attention to detail.
• Ability to work independently and in a group setting.
• Experience with Microsoft applications such as Word, Outlook, PowerPoint, and particularly Excel.
• Research experience in the commercial real estate or infrastructure asset classes.
• Experience working with database systems and knowledge of data mining and data modeling.
• Strong understanding of infrastructure sectors including but not limited to Transport, Power, Energy, and Telecommunications.
• Experience with valuation, risk-return assessment principles, and due-diligence processes.

Benefits

CalPERS team members are eligible for a number of benefits. Health benefits and leave programs are available for most team members. Benefit eligibility may depend on length of service and collective bargaining agreements.

Some added benefits CalPERS offers include:

• Alternate Work Schedules
• Flexible Work Hours
• Onsite childcare facility
• Onsite fitness center
• Onsite café and nearby restaurants
• Free onsite parking available Mondays and Fridays, subject to change
• Free offsite parking available with shuttle service Tuesdays, Wednesdays and Thursdays

For more details about employee benefits, visit the California Department of Human Resources website.

Additional Information

Live Scan
Candidates not currently employed at CalPERS are required to submit to a criminal history review process utilizing Live Scan fingerprinting.

CalPERS Disclosure Requirements
If employed, you may be subject to rules imposed by Personal Trading Regulations and Conflict of Interest Code that apply to CalPERS team members, 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)

Surety Bond
Must be able to qualify for a Surety Bond.

Please do not include any confidential information on any documents in your application package. Confidential information that should be excluded or removed from these documents include, but is not limited to, your social security number, date of birth, marital status, personal photos, a copy of your driver’s license, equal employment opportunity data, examination scores, and LEAP status.

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is optional. It may be included, but is not required.