Stanford Long-Term Investing Fellowship (SLTIF)

OVERVIEW

The Stanford Long-Term Investing Fellowship (SLTIF) is now accepting applications for its second year, building on a successful inaugural cohort. This program provides a group of stellar, mission-driven university graduates with the opportunity to spend 12 months deeply engaged in the world of long-term investing. Specifically, SLTI Fellows will spend one year working at Stanford University, on secondment to one of CalPERS investment teams or rotations in Sacramento, California.

DECISION TIMELINE*

*updated April 11, 2025

February 21, 2025 —Application opens
March 31, 2025 — Application deadline
2nd Week of April — Screenings complete. Continuing applicants will be notified and their references contacted
May 9, 2025 — Deadline for reference submissions
May 12 - 30, 2025 — Interviews conducted
First Week of June 2025 — Final decisions

WHY SLTIF?

Long-term investors represent the base of capitalism and the foundation of our modern social safety nets. They invest over $140 trillion in global markets - in venture capital, private equity, climate infrastructure and more - to secure social promises like monthly pension payments to retirees and annual funds that can be distributed by philanthropic foundations.

CalPERS is the largest public pension system in the nation, deploying billions of dollars into critical industries such as climate solutions and clean energy, and the SLTIF will provide a unique pathway of deep understanding and opportunity to build a career shaping this industry. This is a chance to go into the heart of one of the largest and best-known public pensions on earth.

PROGRAM DETAILS

The Stanford Long-Term Investing Fellowship is a one-year rotational program of learning, researching, working, and investing. Stanford University will select and hire four outstanding graduates (from undergrad and masters programs across the United States) in the Spring of each year and bring them to California (first Stanford, then Sacramento).

STAGE 1: LEARNING AT STANFORD (AUGUST)

Fellows will spend a week on campus studying with Dr. Ashby Monk and the team at the Stanford Long-Term Investing Research Initiative. The purpose of this week will be to learn about the world of long-term investors and prepare them for the year they will spend working at CalPERS. This stage will also establish SLTIF unique goals for the year.

STAGE 2: WELCOME TO CALPERS (SEPTEMBER)

Fellows will move to Sacramento, California and join a training program. They will then be placed on teams and rotations.

STAGE 3: STANFORD RETREAT (JANUARY)

Fellows return to Stanford to share learnings and begin designing a final “case study” they will seek to complete in the Winter and Spring.

STAGE 4: CALPERS PROJECT (JANUARY TO JULY)

With 3 months under their belt, Fellows return to CalPERS for an intense Winter and Spring of work and apprenticeship. During this time, they will also collect data for a case study they will eventually publish upon completion of their Fellowship.

STAGE 5: DEBRIEFING / WRITING AT STANFORD (AUGUST)

Fellows will return to Stanford and write up their findings. They will then present their findings to their peers and incoming students.

STAGE 6: TEACHING AT STANFORD AND COMPLETION (END OF AUGUST)

The outgoing Fellows will teach the incoming Fellows as part of a “Learning at Stanford” event. This will include presentations of case studies and panels on different aspects of working at CalPERS (and other LTIs).