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CalPERS Bulking Up Senior Team

America’s largest pension fund is seeking a head of opportunistic credit for its investment executive group.

The California Public Employees’ Retirement System (CalPERS) is on the hunt for a managing director to lead investments in opportunistic credit.

The position, part of the $306.3 billion pension fund’s executive investment team, oversees enhanced cash and high-yield credit strategies, as well as contributing to CalPERS’ overall risk management, investment performance, asset allocation, and talent management.

The job listing, posted this month, calls for applicants able to “lead and manage a major functional investment area” and “make and influence decisions that have a significant impact on the fund.”

Primary job responsibilities will include developing and implementing opportunistic credit investment strategies and policies, managing staff and consultants, and ensuring credit and enhanced cash investments earn the “highest rate of return at prudent levels of risk.”

The managing investment director would also coordinate with the leaders of CalPERS’ other investment programs to ensure “consistency and high quality across asset classes, portfolios, and investment strategies.”

Candidates must be able to work “effectively” with the CalPERS Board of Administration, consultants, asset managers, and investment partners, as well as negotiate agreements “consistent with CalPERS’ interests.”

The Sacramento, California-based position will pay between $262,000 and $411,600 annually. Applications will be accepted until September 9.

Related: CalPERS Hiring for In-House Private Equity Team & CalPERS Hires Washington Pension Director as CEO

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