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
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 workplace.
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 investments.
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 Investments portfolio.
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 Committee.
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, Impact Investing.
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 will include:
THE QUALIFICATIONS YOU’LL BRING
At The California Endowment, all staff members currently receive a compensation package that includes:
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 status.