As financial markets continue to evolve, especially private markets, investment professionals need to pursue learning opportunities at every turn, adapting to everchanging alternative investment strategies. With encouragement from my colleagues, including other CAIA charter holders, I decided to pursue my CAIA designation in 2023 to further enhance my knowledge of alternative assets and to provide me with additional tools as an institutional private equity investment professional.
The process of earning my CAIA charter while balancing a full workload including extensive business travel, and family demands with two young children, was not easy, but it was amazingly fulfilling. This consisted of many late nights and studying at every possible free moment, and I learned that the pursuit of knowledge does not come easy and that the journey is almost as fun as the achievement itself. For those looking for a studying tip, extensive handwritten notes and flash cards are your friend. I managed to study and pass both exams back-to-back, earning my charter in a short nine months.
The CAIA curriculum was incredibly engaging and thought-provoking, exposing me to investment strategies that I had limited prior knowledge of. It helped me further deepen my understanding of key private equity and venture capital concepts while educating me on topics adjacent to the focus of my current role like structured products, real assets, and risk management. The emerging topics portion of the level II curriculum was particularly relevant as it covered subjects that have gained importance in recent years like decentralized finance, cryptocurrencies, and responsible investing. The CAIA program is best-in-class, one that candidates can leverage to further their knowledge of alternative investments.
I would encourage anyone considering the CAIA charter to put forth the effort and go for it. Spend the time and don’t be afraid of failure; it won’t be easy but it’s important to continue to develop yourself with learning opportunities like the CAIA program. My CAIA journey was incredibly rewarding and has made me more confident as an investment professional, enhancing my work quality and ability to analyze investment opportunities.
About Tyler Rico, CAIA
Tyler Rico is an Associate Portfolio Manager on the Private Equity team at the California State Teachers’ Retirement System (CalSTRS). Tyler focuses on partnership underwriting, manages several strategic general partner relationships, and helps to provide oversight to the $54 billion CalSTRS Private Equity Portfolio. In his free time, Tyler enjoys traveling, reading, and spending time in Lake Tahoe, California, teaching his two young boys how to ski. Tyler has been a CAIA member since 2023.
About CalSTRS
CalSTRS provides a secure retirement to more than 1 million members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in 2022–23 had 25 years of service and a monthly benefit of $5,141. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $349.7 billion in assets under management as of December 31, 2024.