Director of Real Estate
The CalSTRS Investments Branch is seeking an experienced individual to work as the Investment Director of Real Estate.
The Real Estate units' primary objective is to provide stable cash flow and generate an enhanced yield while providing total fund diversification and an inflation hedge. Real Estate partners with best-in-class managers with common goals to create a portfolio of high quality assets. The portfolio includes allocations to core, value add and opportunistic risk strategies across property types globally.
Under the general direction of the Senior Investment Director, Private Markets, the Director of Real Estate provides investment expertise to staff and the Teachers' Retirement Board in the area of real estate investment and management as well as oversight of the Real Estate staff. The incumbent provides senior level management for the real estate portfolio, executes the investment committee real estate policies, and advises the Senior Investment Director on a variety of sophisticated real estate portfolio management strategies. The Director may act on behalf of the Senior Investment Director, Private Markets, in their absence as delegated.
The ideal candidate will possess the following skills:
- Knowledge of real estate within investments, specifically private markets
- Experience coaching and guiding existing senior directors
- Experience developing and overseeing investment strategy initiatives
- Experience executing, adhering to and providing guidance on investment policies
- Experience managing internal and external investment portfolios
- Experience in developing strategic goals and objectives, asset allocation, business plans, budgetary planning
- Ability to effectively communicate and collaborate with asset class directors to ensure consistency
- Ability to present recommendations to a board or similar governing body
This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary.
Relocation benefits may be available.
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
CalSTRS offers a hybrid approach including in-office and remote work solutions with staff working on-site in West Sacramento 2-3 days per week.