Sustainable Investment Associate Manager

ImpactAlpha Inc.; Sacramento (CA); Hybrid; USD 120,000 - 180,000; Full time

Benefits offered by this job

Health benefits

Annual incentive awards

Long-term incentive program

Alternate work schedules

Flexible work hours

Onsite childcare facility

Onsite fitness center

Onsite cafe

Free onsite parking

Free offsite parking with shuttle

Job summary

CalPERS’ Sustainable Investments (SI) team is seeking an Associate Investment Manager to advance climate solutions across its private markets portfolio and support the organization’s mission.

The role involves underwriting energy transition funds and climate co-investments, mapping the landscape, and monitoring evolving sectors and manager strategies to drive accountability and transparency in climate exposures.

Qualifications

• Meet Minimum Qualifications listed on the Classification Specification for Associate Investment Manager, Public Employees’ Retirement System
• Must be able to qualify for a Surety Bond
• Must pass a criminal history review process utilizing Live Scan fingerprinting
• Must comply with Personal Trading Regulations and Conflict of Interest Code requirements
• Must be subject to background investigation prior to employment
• Must file a Statement of Economic Interest (Form 700)
• Subject to CalPERS Disclosure Requirements regarding investment information and designated trading platform usage

Responsibilities

• Support the Investment Director and/or private asset class Investment Manager(s) in the underwriting process for energy transition focused funds and/or climate solutions co-investments
• Map the private climate solutions investment landscape across relevant asset classes
• Monitor market developments, emerging sectors and evolving manager strategies
• Contribute to CalPERS climate and performance goals accountability and transparency efforts by supporting the tracking, measurement and reporting of the private markets portfolio’s climate solutions exposure

Job description

About California Public Employees’ Retirement System (CalPERS)

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, headquartered in downtown Sacramento, California. As of May 2026, CalPERS manages approximately $627.93 billion in assets, serving as a destination employer with an international reputation for leadership and innovation in the investment industry. CalPERS is committed to advancing its mission of securing the retirement security and health care benefits of over 2 million members, including retirees, active employees, and their families. The organization strategically positions itself near major economic and lifestyle destinations, including the Napa Valley, San Francisco, and Lake Tahoe regions, offering competitive compensation packages and substantial opportunities for professional advancement. The organization is deeply committed to diversity, equity, and inclusion, fostering a workplace where talent, experience, and expertise are valued. CalPERS’ Investment Beliefs guide decision‑making across the organization, emphasizing responsible investing practices and long‑term value creation. The institution is recognized for its commitment to sustainability and climate solutions, as evidenced by its ambitious Sustainable Investments 2030 Strategy, which aims to invest over $100 billion in climate solutions by 2030.

About this Role

The Sustainable Investments (SI) team at CalPERS is seeking an Associate Investment Manager to play a central role in advancing the organization’s commitment to climate solutions across its private markets portfolio and drive CalPERS’ institutional mission. This position represents a key opportunity to contribute to one of the largest pension funds’ strategic initiatives in sustainable and responsible investing. The role involves supporting the Investment Director and private asset class Investment Managers in evaluating and underwriting energy transition‑focused funds and climate solutions co‑investments. The Associate Investment Manager will be instrumental in mapping the private climate solutions investment landscape across relevant asset classes and monitoring market developments to identify emerging sectors and evolving manager strategies. Additionally, the position requires supporting CalPERS’ climate and performance goals accountability and transparency efforts by facilitating the tracking, measurement, and reporting of the private markets portfolio’s climate solutions exposure. The successful candidate will contribute to achieving CalPERS’ objective to invest over $100 billion in climate solutions by 2030.

Responsibilities

• Support the Investment Director and/or private asset class Investment Manager(s) in the underwriting process for energy transition focused funds and/or climate solutions co‑investments
• Map the private climate solutions investment landscape across relevant asset classes
• Monitor market developments, emerging sectors and evolving manager strategies
• Contribute to CalPERS climate and performance goals accountability and transparency efforts by supporting the tracking, measurement and reporting of the private markets portfolio’s climate solutions exposure

Requirements

• Meet Minimum Qualifications listed on the Classification Specification for Associate Investment Manager, Public Employees’ Retirement System
• Must be able to qualify for a Surety Bond
• Must pass a criminal history review process utilizing Live Scan fingerprinting (if not currently employed at CalPERS)
• Must comply with Personal Trading Regulations and Conflict of Interest Code requirements
• Must be subject to background investigation prior to employment
• Must file a Statement of Economic Interest (Form 700)
• Subject to CalPERS Disclosure Requirements regarding investment information and designated trading platform usage

Benefits

• Health benefits and leave programs available for most team members
• Annual incentive awards opportunity of 0-60% of salary based on achievement against quantitative and qualitative measures
• Long‑term incentive program providing 0-60% of base salary (beginning after five years when absolute total fund returns meet or exceed board‑approved thresholds)
• Alternate work schedules available
• Flexible work hours
• Onsite childcare facility
• Onsite fitness center
• Onsite café and nearby restaurants
• Free onsite parking available Mondays and Fridays
• Free offsite parking available with shuttle service Tuesdays, Wednesdays, and Thursdays
• Hybrid work schedule eligibility with up to two days of remote work and three or more days onsite per week
• Competitive benefit packages and compensation
• Opportunities for professional advancement