- New York, NY
We are looking to hire a Portfolio Manager to be responsible for all portfolio management functions on behalf of an existing 40 Act registered private markets fund. This individual will sit within our Research & Diligence team, comprised of 11 professionals, and will also report into our Investment Product Development & Origination group, comprised of 6 professionals. The candidate’s primary responsibilities will include overall portfolio construction, evaluating and selecting co-investment and secondary opportunities in private equity and credit, conducting diligence on prospective primary funds as well as being the principal presenter to financial advisors on wirehouse platforms and in the independent space.
The candidate will manage the overall composition of the fund and the optimal mix of investments based on strategy, geography, return profile, and private asset types. Additionally, you will maintain monthly cash projections including forecasting capital calls and distributions as well as managing the liquid component of the fund and the overall risk of the fund portfolio.
You will provide recommendations to an Investment Committee that has governing authority for all investment decisions. You will have responsibility for all decisions related to the percent of liquid assets held and the cash management of the fund. Additionally, you will analyze and oversee the entire investment portfolio, including the state of both equity and credit markets on a regular basis and understand their effects on the portfolio. You will determine the best investment strategies and opportunities for the fund, the proper allocations across investments, and will need to articulate the rationale for the all new investments to the fund’s board, stakeholders, and investors.
- Evaluate and select co-investments, direct investments, secondary investments and primaries in private equity and credit
- Monitor all fund investments, engaging with the primary underlying managers on a regular basis and reviewing quarterly valuations for each investment
- Manage the overall portfolio composition and weighting between strategies, geographies and investment types
- Manage the liquidity of the fund and avoid excess cash reserves
- Mange the risk exposure of the portfolio
- Maintain records and files of all portfolio investment activities
- Educate and explain the fund, its attributes and risks to both sophisticated advisors as well as advisors newer to the asset class.
- Keep clients up to date on the state of the portfolio
- Study market trends
- Apply knowledge of trends to the fund, proposing changes or adjustments accordingly
- Meet with investors to communicate how the fund is performing
- Assist clients in understanding the fund and its investment merits
- Consult with stakeholders and receive necessary approval prior to making any major changes to the portfolio
- Attend annual meetings of main underlying GPs
- Deliver presentations on the fund and recent market trends
- At least 10 years of direct experience evaluating and making investment decisions with respect to direct deals, co-investments, secondaries and primary investments in private equity
- Detailed knowledge of economic theory and financial terminology
- Detailed knowledge of best in class investment and portfolio management practices
- Professional and confident demeanor
- Ability to communicate clearly and effectively and produce thoughtful fund commentary both in writing and when presenting
- Ability to translate financial language into layman’s terms for explanatory purposes
- Strong qualitative and quantitative analytical and problem-solving skills
- Ability to make informed and logical management decisions
- Strong interpersonal skills
- Successful track record executing similar investments at a private equity firm, institutional LP, top-tier investment consultant, or fund of funds manager
- Registered Fund experience is not required
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