Sustainable Investments Investment Officer

The core mission is to help integrate sustainability into CalPERS' private markets investing. Day to day, you'll partner with private asset class teams on sustainability due diligence for potential deals, reviewing environmental, social, and governance factors. You'll also monitor portfolio sustainability KPIs, run analytics to spot trends and risks, and maintain tracking systems that are audit-ready. Beyond the core, you'll contribute to energy transition and climate solutions investing, thematic research, and cross-team initiatives. A key long-term objective is helping shape public disclosures, board presentations, and other publications so they are accurate, accessible, and ready for a public audience. This role is about turning messy information into clear, well-documented analysis that supports investment decisions. You'll have meaningful responsibility early, with broad exposure across asset classes. The overarching goal is to ensure that sustainability considerations are systematically embedded in how CalPERS allocates capital in private markets.

You'll gain deep exposure to private markets asset classes—private equity, real estate, infrastructure, and private debt—and how sustainability factors into each. You'll learn to conduct ESG due diligence, interpret sustainability KPIs, and use analytics to identify trends and risks. The role also offers hands-on experience in public reporting and board-level communication, skills that are highly transferable. CalPERS is a destination employer with a strong commitment to professional development. You'll likely receive mentorship from experienced investment professionals and may have opportunities to pursue certifications like the CFA, which CalPERS incentivizes with a pay differential. Exposure to energy transition and climate solutions investing will build your expertise in a growing field. You'll also learn how a large public pension fund operates, including its governance, investment beliefs, and stakeholder accountability. This is a rare chance to develop a blend of financial and sustainability skills in an institutional setting.

The ideal candidate likely has a bachelor's degree in finance, economics, environmental studies, or a related field, with some experience in investment analysis, sustainability, or data analytics. You should be comfortable working with messy data and turning it into clear, well-documented analysis. Strong analytical skills, attention to detail, and proficiency in Excel or similar tools are essential. You'll need to be a collaborative team player who can work with colleagues from diverse asset class backgrounds. Curiosity, fast learning, and the ability to ask good questions are highly valued. Excellent written and verbal communication skills are important for drafting disclosures and presentations. While not required, a CFA certification or progress toward it is a plus, as CalPERS offers a pay differential. Familiarity with ESG frameworks and private markets would be advantageous. Most importantly, you should be aligned with CalPERS' mission of serving public employees and its investment beliefs.

To stand out, tailor your application to CalPERS' unique context as the largest U.S. public pension fund. Emphasize any experience with ESG data, due diligence, or private markets. The state application process requires the STD 678 form, so ensure it clearly demonstrates how you meet the minimum qualifications. A well-crafted Statement of Qualifications can set you apart—use it to tell a concise story about your analytical skills and interest in sustainable investing. In your cover letter or SOQ, avoid generic statements. Instead, reference specific aspects of the role, such as portfolio monitoring or public disclosures, and explain how your background prepares you. Mention any CFA progress. Prepare for interviews by being ready to discuss how you handle messy data, work across teams, and contribute to energy transition investing. Finally, show that you understand CalPERS' mission and Investment Beliefs. The hiring team values diversity and inclusion, so highlight how your perspective can contribute. Consider reaching out to CalPERS Career Services for application support, as they offer consultations.

This role will focus on integrating sustainability into CalPERS' private markets portfolio. That includes assessing ESG risks and opportunities in private equity, real estate, infrastructure, and private debt deals. You'll likely work on climate-related analytics, monitoring portfolio companies' sustainability KPIs, and supporting energy transition and climate solutions investments. A significant part will be public disclosures and reporting, ensuring CalPERS communicates its sustainable investment activities accurately to members, stakeholders, and the public. This intersects with governance, as CalPERS is accountable to its beneficiaries and the State of California. The role also involves thematic research, so you may explore emerging sustainability trends and how they affect investment strategy. Overall, the focus is on embedding sustainability systematically across private markets, not just as a compliance exercise but as a value driver.

One challenge is the inherent complexity of private markets data, which can be inconsistent and difficult to compare across asset classes. You'll need to navigate different reporting standards and work with teams that may have varying levels of sustainability expertise. Balancing sustainability goals with financial return expectations is another ongoing tension. Public scrutiny is high: as a large public pension fund, CalPERS faces political and media attention on its ESG strategies. Ensuring disclosures are accurate and defensible requires rigorous processes. You may also encounter skepticism from some stakeholders about the role of sustainability in investing. Additionally, the state hiring process can be lengthy and bureaucratic, so patience is useful. Once in the role, managing multiple deadlines across deal work, monitoring, and publishing could be demanding. You'll need strong organizational skills to keep tracking systems audit-ready.

A typical day might start with a check-in with your Sustainable Investments team, then a meeting with a private asset class team to discuss due diligence on a potential deal. You could spend time reviewing sustainability KPIs from portfolio companies, running analytics, or updating tracking systems. You might also draft sections of a public disclosure or prepare slides for a board presentation. Collaboration is constant, so you'll likely have calls or in-person meetings with colleagues across the investment office. The hybrid schedule—two days remote, three onsite—means some days are quieter for focused analytical work, while onsite days are packed with meetings. Beyond the core, you might contribute to thematic research on energy transition or climate solutions, or participate in cross-team initiatives. No two days are exactly alike, but the rhythm blends analysis, writing, and teamwork.

This role offers a strong foundation for a career in sustainable finance. You'll gain exposure to all private asset classes, which could lead to advancement within CalPERS' investment office, such as Investment Officer II or III, or to specialized roles in sustainability or asset class teams. The high visibility of working on board presentations and public disclosures can accelerate your professional reputation. CalPERS also supports certifications like the CFA, which can open doors to more senior investment positions. Lateral moves within CalPERS, such as to a different asset class or to a policy role, are possible. The skills you build—ESG due diligence, data analytics, stakeholder communication—are in demand across the financial industry. This is a rare chance to grow with the largest U.S. public pension fund.

You'll interact frequently with private asset class teams—private equity, real estate, infrastructure, and private debt—who rely on your sustainability due diligence. The Sustainable Investments team will be your immediate colleagues and mentors. You'll also work with senior leadership and the board of administration when preparing presentations and disclosures. Externally, you may engage with fund managers and general partners to gather sustainability data and discuss ESG practices. Other CalPERS departments, such as communications and legal, may be involved in reviewing public disclosures. Finally, you'll indirectly serve CalPERS' members and the public, who are the ultimate stakeholders for the fund's sustainability reporting. Balancing these diverse interests requires strong communication and collaboration skills.