April 3, 2024

Communications & Stakeholder Relations
Office of Public Affairs
(916) 795-3991 - newsroom@calpers.ca.gov

SACRAMENTO, Calif. – CalPERS, the largest pension fund in the United States, and Stanford University School of Engineering today announced the creation of a Long-Term Investing Fellowship Program (LTIF) a collaboration to develop the next generation of institutional investors.

The LTIF program is a one-year rotation of learning, researching, working, and investing that will be split between the two organizations. Stanford Engineering will select and hire graduates from undergraduate and masters’ programs in the spring of each year. Students will design a project, engage in an intensive apprenticeship at CalPERS, and return to Stanford to present their findings to the next group of incoming fellows.

"There's no better place than CalPERS to learn about the world of investing and the role that it plays in securing the futures of our 2 million members," said CalPERS Chief Executive Officer Marcie Frost. "The program will not only provide students with a remarkable opportunity, it will also allow CalPERS to continue its mission of developing talent and building a successful learning and teaching culture."

The program will be led by Ashby Monk, a senior research engineer at the Stanford School of Engineering and Executive Director of the Stanford Research Initiative on Long-Term Investing.

"This unique fellowship will provide a handful of stellar, mission-driven university graduates an opportunity to engage deeply with the world of long-term investing," said Monk. "The goal will be to create a new pathway for graduating university students to make a difference inside beneficial investment organizations, such as public pension funds, university endowments, charitable foundations and sovereign funds."

The deadline to apply for the program is May 15, 2024.

About CalPERS

For more than nine decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. For more information, visit www.calpers.ca.gov.