Private Debt Investment Analyst

Equal Opportunity Employer

The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.

It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.

Position Details

Job Code #:

JC-520812

Position #(s):

275-650-4656-005

Working Title:

Private Debt Investment Analyst

Classification:

INVESTMENT OFFICER I, PUBLIC EMPLOYEES' RETIREMENT SYSTEMS

$4,365.00 - $8,290.00

This position is eligible for a Charter Financial Analyst (CFA) pay differential. Permanent full-time employees who possess certification as a CFA may receive a 5% monthly base pay differential.

New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.

# of Positions:

1

Work Location:

Sacramento County

Telework:

Hybrid

Job Type:

Permanent, Full Time

Department Information

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $625.70 billion as of June 10, 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 .

Job Description And Duties

Anticipated Interview Dates: We anticipate holding virtual interviews beginning the week of August 3, 2026. We look forward to meeting with you!

Our Private Debt (PD) team is currently seeking an Investment Officer I (IO I) to assist the PD team in the management of the CalPERS Private Debt and CLO portfolios.

Duties Include But Are Not Limited To:

• Work with the PD team on evaluating the Collateralized Loan Obligation (CLO) market, the Private Debt market, and the managers.
• Collect, analyze, and summarize data from various sources to be used in analyzing historical and current performance, evaluating manager platforms, and market surveillance reports.
• Assist in monitoring the existing investments, including attribution analysis, use of leverage, and cash flow forecasting.
• Assist the team in coordinating Investment Committee and External Manager meetings. Help plan PD Investment Committee and External Manager presentations, calendars, and document minutes.
• Assist in reviewing capital call and distribution notices in the system. Help track external managers capital deployment and distributions.

Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite per week.

Sponsorship: This position is not eligible for visa sponsorship. Applicants must be authorized to work in the United States without the need for visa sponsorship. CalPERS does not participate in E-Verify for employment authorization purposes.

Effective July 1, 2025, the California Department of Human Resources (CalHR) implemented the Personal Leave Program 2025 (PLP 2025). PLP 2025 directs that each employee shall receive a 3 percent reduction in pay in exchange for 5 hours of PLP 2025 leave credits monthly. The salary range(s) included in the job advertisement do not reflect the 3 percent reduction in pay.

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You will find additional information about the job in the Duty Statement .

Special Requirements

Statement of Qualifications

Please provide a Statement of Qualifications (SOQ) for the hiring manager’s review. Applications received without an SOQ or those that do not respond to the specific questions below will not be considered. T…