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Impact Investment Associate: Mission Related Investments

Website The California Endowment


The California Endowment (TCE) is seeking an mission driven Impact Investment Associate with a focus on Mission Related Investments to join the Impact Investing team. This is a hybrid role with weekly onsite requirements at one of five offices across the state (Los Angeles, Oakland, Fresno, Sacramento, and San Diego).

 Who We Are:

The California 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’re changing the narrative around health to ensure health and justice for all. Each day we, along with our community partners, seek ways to improve the state of health in California.

Headquartered in downtown Los Angeles, we have regional offices in Sacramento, Oakland, Fresno, and San Diego, with program staff working throughout the state. We challenge the conventional wisdom that medical settings and individual choices are solely responsible for people’s health. We believe that building the voice, agency and power of Californians to improve conditions in their communities and reverse the historical and structural impacts of inequity will lead to lasting improvements in health.


  • We believe every Californian deserves health, wellness, and justice.
  • We believe those who are most impacted by health inequities are best positioned to lead in the solutions. 
  • We are committed to diversity, inclusion, mutual respect and transparency. 
  • We value youth leadership and champion marginalized voices.
  • We recognize the impact of trauma on both individual and community health outcomes.
  • We value learning through action. 
  • We embrace strategies aimed at building power in communities of color and marginalized communities.

Just as our values drive our work outside of the foundation, our Code of Ethics drives how we conduct ourselves inside the foundation, with the goal of creating a healthy, productive workplace. For more information on The Endowment, please visit .

 Position Summary  : 

 The California Endowment is committed to utilizing its investment capacity in alignment with its mission and values. 

Through our $250 million commitment to impact investing, we seek to use our power as investors to provide strategic capital that lifts up vulnerable and disinvested communities in California and supports a world where capital is aligned with our mission and values. Our Impact Investing toolkit includes Program-Related Investments and Mission-Related Investments.

TCE’s $50MM commitment to MRIs is deployed as investments that are aligned with TCE’s broad mission and values and generate market-level rates of return. TCE’s $200MM commitment to PRIs is deployed as flexible, often below-market-rate investments structured to generate significant social impact. We have a commitment to advancing racial equity across our entire Impact Investing program.

The Impact Investment Associate, Mission Related Investments is a crucial member of the Impact Investing team. In this role, the Associate will work closely with the the Impact Investment Officer, Mission Related Investments and the broader Impact Investing team in stewarding TCE’s $50MM MRI portfolio. This position works with the Impact Investment Officer to develop TCE’s MRI theses and pipeline across multiple impact theses and create a portfolio of market-rate venture capital, private equity and affordable housing investments that embody TCE’s mission and values. This position will also be responsible for full MRI program operations, collaborating with internal teams and external vendors. The candidate 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 a strong attention to detail as well as strong written and oral presentation skills.

This position reports to the Impact Investment Officer, Mission Related Investments

Position Duties And Responsibilities

  • Supports the investment process for the full MRI transaction cycle, including: impact theme landscape analyses, pipeline development and forward calendar management, conducting diligence, preparation of investment memos, presenting to the investment committee and legal negotiations on approved transactions.
  • Responsible for full MRI program operations including managing quarterly valuations and cash flows to ensure program meets ongoing financial reporting, valuation, and audit responsibilities. Ensure data integrity across internal databases as it relates to the MRI portfolio, involving collaboration with the internal finance team and external vendors.
  • Assist in the preparation of quarterly board materials, reviewing and summarizing activity across the MRI portfolio, including financial and social impact performance reporting and exposure analysis. 
  • Monitor impact investing field and markets for pipeline, opportunities, and trends. Collaborate with internal TCE teams and external partners to develop pipeline opportunities that strengthen the alignment of MRIs with TCE’s mission and values. Work pro-actively with the team to recommend and implement any changes to TCE’s MRI program, policies, and strategies based on this knowledge. 
  • Learn about and support program-related investments as needed, through any portion of the PRI transaction lifecycle.
  • Deepen TCE’s commitment to advancing racial equity through full transaction lifecycle and institutionalization of that commitment in MRI program portfolio support and policies.


  • Deep commitment to TCE’s misson and values and using capital to advance racial equity
  • 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 infrastructure
  • Familiarity with capital markets, impact investing and/or community development
  • 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
  • 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 partner.

 Minimum Education: 

  • Undergraduate Business degree or related degree. 
  • 3-5 years of experience in investments or related field.

Salary Range: 

$111,220 – $166,830 Annual

The California Endowment’s 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, and prior criminal history, in accordance with local, state and/or federal laws.

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