Deputy Chief Investment Officer, Private Markets

CalPERS (California Public Employees' Retirement System), the largest public pension fund in the United States, is seeking a Deputy Chief Investment Officer (DCIO) for Private Markets to join the Investment Office (INVO) senior leadership team in Sacramento, California.

As a key member of the INVO leadership team, the DCIO will handle financial, economic, policy, and administrative issues related to private asset markets investment decision-making. The role operates under the general direction of the Chief Investment Officer (CIO) and is responsible for collaborating with the CIO in supporting private asset markets investments in a risk-aware manner to generate the absolute rate of return required to meet CalPERS pension obligations.

The ideal candidate will be a strong investor who is goal-oriented, organized, and able to build and maintain collaborative relationships with poise, integrity, and transparency. Excellent communication skills and productive relationship-building capabilities are essential.

The role offers a base salary of $28,325 - $47,208 per month. An annual incentive opportunity of 0-180% of salary is based on quantitative and qualitative performance measures. A long-term incentive program provides an additional opportunity of 0-180% of base salary after five years when absolute total fund returns meet board-approved thresholds. The position is eligible for a hybrid work schedule with up to two remote days per week. An executive search firm is assisting in the recruitment process.