Managing Director, Public Investments

San Diego, CA - USA

Yearly Salary: $ 368000 - 450000

Posted on: 19 hours ago

Vacancies: 1 Vacancy

Job Summary

The Investment team at The California Endowment is seeking a Managing Director Public Investor to be a part of a highly motivated and collaborative Investment team co-located in Los Angeles Oakland and San Diego (CA).

To ensure full consideration please submit your application by January 31 2026.Application review will begin shortly thereafter.

The California Endowment (The Endowment) is a private statewide health foundation established in 1996 whose mission is to expand access to affordable quality health care for underserved individuals and communities and to promote fundamental improvements in the health status of all Californians. We envision a California that leads the nation as a powerful and conscientious voice for wellness inclusion and shared prosperity.

Headquartered in downtown Los Angeles the Endowment has regional offices in Sacramento Oakland Fresno and San Diego with staff working throughout the state. We challenge the conventional wisdom that medical settings and individual choices are solely responsible for peoples health. We believe that health happens in neighborhoods schools and with prevention.

The California Endowment (TCE) resolved to begin a transition to align 100% of its $4.0 billion in assets with its mission also known as going All In while seeking to earn a market rate of return. Given the structure of the existing portfolio responsibly shifting all the Foundations assets toward mission/impact and TCEs vision will be an ongoing and evolving process across a long-time horizon. Implementation will require flexibility and practicality balancing the Foundations payout requirement and financial obligations along with the supply of mission/impact investing opportunities market factors evolving best practices in the field and status of the Foundations assets.

The Investment Team is responsible for investing and managing the Endowments portfolio and bringing about the desired alignment with mission. To support these efforts all members of the Investment Team are responsible for a set of activities and actions that seek best in class managers that can support the dual objectives of generating market rate returns and mission/impact alignment as defined in TCEs Investment Policy Statement.

Position Summary:

Reporting to the Chief Investment Officer (CIO) the Managing Director Public Investments works closely with the CIO and the Investment Leadership Team in managing TCEs invested assets. The Managing Director (MD) will provide oversight of portfolio strategy and construction investment selection and monitoring of 3^rd party investment managers in public markets across a range of asset classes including but not limited to public equity hedge funds and fixed income. The MD will assist the CIO with risk management as well as leadership of the Investment Team in support of the overall mission of The Endowment.

Position Accountabilities:

Investment Management:

Investment Sourcing
- Work with the CIO in setting investment team strategic priorities
- Lead investment strategy for the public asset classes as well as lead/manage the Public Investments Team
- Develop/guide research projects to define investment opportunities
- Lead the Public Investment Team during all phases of due diligence of existing and potential investment managers
- Lead the Public Team in presenting investment recommendations to the CIO and Investment Department
- Ensure the Public Investment Team keeps abreast of the investment manager landscape by actively networking with investment managers peers and consultants as well as through attendance at industry conferences

Investment Monitoring
- Maintain strong relationships with investment managers as part of the investment monitoring process.
- Manage the process of analyzing investment manager progress in meeting the endowments objectives.
- Maintain conviction ratings of investment managers and provide well-reasoned and strategic recommendations to the Investment Department and CIO on portfolio changes

Risk Management
- Assist the CIO with portfolio level decisions on risk exposures at the asset class investment manager and/or underlying security level.
- Maintain oversight of public portfolio liquidity as well as working with the MD of Private Investments Director of Operations and the CIO in managing liquidity for TCEs granting and operational needs.
- Assist with the annual asset allocation and governance process.

Projects
- Assist team members in managing other parts of the endowment portfolio as needed.
- Other projects/duties as assigned

Organizational:

Supporting a collaborative environment that allows for team development and input on portfolio decisions
Managing developing and coaching of direct reports as well as co-leadership and mentoring responsibilities across the department with peers
Work with the Operations Team as part of day-to-day operations and assist with the annual audit process as it pertains to investments.
Participate in the preparation and presentation of material for Investment & Finance Committee as well as Board of Directors meetings.
Provide leadership in alignment with TCEs mission values as well as tce principles
Modeling support of training initiatives such as Advancing Racial Equity (A.R.E).

Desired Knowledge Qualifications & Skills:

Prior responsibility for oversight of the selection of 3^rd party investment managers.
At least 10 years of institutional investing experience with an emphasis on investing across public asset classes.
Demonstrated track record of success in manager selection and asset class strategy/management/implementation.
Demonstrated experience with building and managing a team.
Demonstrated experience presenting to stakeholders.
Prior experience at an endowment or foundation preferred.
Ability to travel domestically and internationally 50% of the time

Minimum Experience:

12 years of experience managing investments preferably for an endowment foundation or family office.
Undergraduate degree in business or a related field; CFA CAIA and/or a masters degree in a relevant field including but not limited to Business Finance Asset Management Data/Analytics Environmental Studies etc. preferred.
Minimum of 7 years of people management experience.
Proficiency in leading an investment due diligence process from start to finish.
Proficiency with investment policy/legal documentation and negotiations.
Experience collaborating in a multi-disciplinary diverse and dynamic team environment
Excellent quantitative aptitude and the ability to think abstractly.

Core Competencies:

Accuracy: Identifies and corrects mistakes; does not repeat past mistakes; demonstrates strong attention to detail.
Problem Solving: Strong analytical skills with the ability to make recommendations and problem solve with sound judgment.
Adaptability:Self-starter with the ability to nimbly manage competing priorities; effectively and positively embraces and manages change.
Relationship Management: Ability to establish strong rapport across all levels and manage enterprise-level relationships.
Leadership: Demonstrates behaviors that align the team in a collective direction enables them to work together and accomplish shared goals as well as helping them to adjust to changing environments.
Process Management: Driven by results but focused on improving processes and efficiency.
Team Orientation: Comfortable taking direction and often taking the lead; receptive to feedback.
Communication: Demonstrates clear thoughtful and thorough verbal and written skills; professional and diplomatic demeanor.

Salary Range:

Target Hiring Range: $368000 - $450000 base Incentive Eligible

Full Hiring Range: $368000 - $520000 base Incentive Eligible

TCE Benefits and Perks

Shared medical and dental premiums for employees and eligible dependents
100% employer-paid benefits: vision life and AD&D STD LTD and employee assistance program
Health Care and Dependent Care Flexible Spending Accounts
Reimbursement towards gym fees and/or wellness program and mental health care
9-80 schedule with synchronized off days
Hybrid work schedule available for most positions
11 paid holidays paid winter holiday closure
Generous paid time off (PTO)
401k plan with generous employer match and contributions
Matching gifts program
Paid parking or public transportation subsidy
Professional development and training opportunities
Tuition Reimbursement Program
Monthly BYOD stipend

The California Endowments goal is to hire qualified staff reflecting the rich diversity of all Californians. We are proud to be an equal opportunity employer committed to advancing health and racial equity in California. We are committed to creating a work environment in which all individuals are valued and respected. We encourage applicants from diverse backgrounds. We define diversity in broad terms to include race ethnicity age gender religion sexual orientation gender identity and expression disability geography socio-economic status veteran status and prior criminal history in accordance with local state and/or federal laws.

If you need a reasonable accommodation to search for a job opening apply for a position or participate in the interview process please connect with us at and describe the specific accommodation request for a disability-related limitation.

Required Experience:

Director