The California Endowment is a $4B+ 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. They are
changing the narrative around health to ensure health and justice
for all, and each day they, along with their community partners,
seek ways to improve the state of health in California.
Headquartered in downtown Los Angeles, they have regional
offices in Sacramento, Oakland, Fresno, and San Diego, with program
staff working throughout the state. They challenge the conventional
wisdom that medical settings and individual choices are solely
responsible for people's health. Instead, they believe that health
happens in neighborhoods, schools, and with prevention.
TCE CORE VALUES
- They believe every Californian deserves health, wellness, and
- They are committed to diversity, inclusion, mutual respect, and
- They value youth leadership and champion marginalized
- They recognize the impact of trauma on both individual and
community health outcomes.
- They value learning through action.
And just as their values drive their work outside of the
Foundation, their Code
of Ethics drives how they conduct themselves inside the
Foundation, with the goal of creating a healthy, productive
In the pursuit of this vision, TCE created an Impact
Investing Program over a decade ago to provide strategic
capital that lifts up vulnerable and disinvested communities in
California and supports a world where capital is aligned with their
mission and values. As part of that ambition, they are focused on
addressing the historical and ongoing racial inequities in this
country to advance greater racial equity through these
TCE has made a $250 million commitment to impact investing, and
$50MM of this is allocated to Mission Related Investments (MRI).
They are seeking a new Investment Officer who will
act as principal steward for managing the emergent Mission Related
IMPACT INVESTING OVERVIEW
Although the majority of TCE’s impact investing has previously
been in the Program Related Investments space, they are seeking to
grow their Mission Related Investments in the near future. The
Investment Officer will work closely with the Director, Impact
Investing to develop strategy, growth, and management of this
portfolio. TCE has made approximately ten MRIs and has started
developing a pipeline of potential opportunities to explore, which
this Investment Officer will get to expand and pursue. TCE’s most
recent MRI priorities include advancing racial equity, affordable
housing, and healthcare.
The Investment Officer will work with the Impact Investing
Director to create a portfolio of market-rate venture capital,
private equity and affordable housing investments that embody TCE’s
mission and values. They must have a strong investments
background, an understanding of the social/impact investing sector,
and a passion to use capital to make a difference. The
candidate must also have strong written and oral presentation
skills with familiarity in working with an Investment
TCE is a highly collaborative and dynamic organization, so the
Investment Officer will also need to work closely with other
departments to tell the story behind the investments they are
making so others across the organization can clearly and powerfully
communicate the portfolio’s impact. There is also a need within the
Impact Investing department to continually evaluate and refine its
processes and operations, so it would be ideal to find someone who
enjoys shaping and codifying best practices so that the portfolio’s
growth can continue unhindered by operational constraints.
This position will manage junior team members on transactions
and portfolio management, and they will report to the Director,
YOUR POTENTIAL IMPACT
Strong candidates for this role will have a deep background in
managing investments from origination to ongoing portfolio
management post-closing and will be a strong communicator and
project manager who cares deeply about TCE’s mission. Opportunities
- Steward the MRI program, ensure alignment with TCE’s mission
and strategy and the MRI strategy’s programmatic parameters.
- Lead the full MRI transaction cycle, including: impact theme
landscape analyses, pipeline development and forward calendar
management, preparation of investment memos, presenting to the
investment committee and legal negotiations on approved
- Deepen TCE’s commitment to advancing racial equity through full
transaction lifecycle and institutionalization of that commitment
in MRI program portfolio management and policies.
- Ensure program meets ongoing financial reporting, valuation and
audit responsibilities through managing the team’s portfolio
management activities and operations.
- Learn about and support program-related investments as needed,
through any portion of the PRI transaction lifecycle.
- Collaborate with internal TCE teams and external partners to
develop pipeline opportunities that strengthen the alignment of
MRIs with TCE’s mission and values.
- Monitor impact investing field and markets for pipeline,
opportunities, and trends. Pro-actively recommend any changes to
TCE’s MRI program, policies, and strategies based on this
- Serve as a thought leader in the broader impact investing field
and represent TCE at industry conferences and events.
- Support effective reporting out and partnership with the board,
including financial and social performance reporting and exposure
THE QUALIFICATIONS YOU’LL BRING
- Undergraduate Business degree or related degree, MBA a
- 7-10+ years of experience in investments or related field.
- Deep commitment to TCE’s mission and values and using capital
to advance racial equity.
- Experience managing transactions across the full transaction
lifecycle from origination to legal closing and ongoing portfolio
- Strong transaction due diligence capabilities with private
equity and venture capital funds including assessing manager track
record and performance, conducting financial modeling,
understanding industry dynamics, and evaluating operational
- Familiarity with capital markets, impact investing and/or
- Ability to collaborate effectively across diverse departments
and organizations to drive results; demonstrated ability to
cultivate strong relationships with internal teams, external
investees/borrowers and co-investors.
- Prior experience managing direct reports.
- Excellent written and oral communication skills; effective in
formal and informal presentation settings.
- Results and detail oriented; demonstrated ability to establish
and achieve goals.
- Ability to travel and work independently as a team
COMPENSATION AND BENEFITS
At The California Endowment, all staff members currently receive
a compensation package that includes:
- A competitive salary aligned with TCE’s position level and
salary bands and against similar organizations.
- A suite of benefits that includes choices for medical, vision
and dental care, paid time off, a 401k retirement plan with
employer match, disability insurance, life insurance, EAP, and
education and commuter benefits.
LOCATION: Los Angeles, Sacramento, Oakland,
Fresno or San Diego – California
More information about The California Endowment
may be found at: www.calendow.org
This search is being led by Allison
Kupfer Poteet and Rachel Burgoyne of
NPAG. Candidates may submit
their cover letter, outlining their interest and qualifications,
along with their resume via NPAG’s website.
The California Endowment is an equal opportunity
employer committed to diversity and to creating a work environment
where the individual is valued and respected. The Endowment
welcomes applicants from diverse backgrounds and seeks to hire
qualified staff reflecting the rich diversity of the communities we
serve. We define diversity in broad terms to include race,
ethnicity, age, gender, religion, sexual orientation, gender
identity and expression, disability, geography, and socio-economic