What are the responsibilities and job description for the INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM position at Public Employees Retirement System?
An executive search firm will be assisting in the recruitment process for this position. Your application package will be forwarded to their team for consideration.
Anticipated Interview Dates: We anticipate holding virtual interviews on an ongoing basis until the position is filled. We look forward to meeting with you!
Our Private Debt (PD) team is currently seeking an Investment Director to assist in the management of CalPERS Private Debt Portfolio and Enhanced Return Portfolio and actively contribute to the strategy, its implementation, and maintaining a strong platform to ensure the portfolios achieve the strategic return and risk objectives and drive our CalPERS mission.
Duties include, but are not limited to:
- Oversee the day-to-day underwriting and monitoring of the investments and investment strategies within the CalPERS Private Debt portfolio to ensure investments earn the highest rate of return at targeted risk levels.
- Proactively contribute to the strategy of the PD portfolios, propose new private debt investments to the PD team and maintain an active network to source new opportunities.
- Lead the deal process, including due diligence and dynamic contract negotiations. Present investment recommendations to Investment Committees, reflecting analyses and mitigation of risk factors, stress testing and portfolio fit.
- Manage and coach deal team members, actively contribute to a collaborative culture across INVO.
Sponsorship: CalPERS does not participate in E-Verify for employment authorization purposes.
This position will run until filled with cutoff dates for review every Sunday until filled.
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You will find additional information about the job in the Duty Statement.
You will find the Minimum Requirements in the Class Specification.
- INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
- Job Application Package Checklist
- Duty Statement
Job Code #:
JC-506078
Position #(s):
275-650-4638-001
Working Title:
Investment Director, Private Debt
Classification:
INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
$20,062.50 - $33,437.50
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-120% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 0-120% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-120% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 0-120% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
# of Positions:
1
Work Location:
Sacramento County
Telework:
Hybrid
Job Type:
Permanent, Full Time
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $610.23 billion as of February 9, 2026. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision, and their decisions and actions are guided by our Investment Beliefs.
If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website!
To take a look at CalPERS as a destination employer, view this YouTube video.
If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website!
To take a look at CalPERS as a destination employer, view this YouTube video.