Manager, Real Assets - Impact and Responsible Investing

Prudential has a long-standing commitment to directing financial and human resources to address critical social needs. Prudential's Diversity and Impact team leads the company's efforts at supporting inclusion and social change. The Impact and Responsible Investing unit currently manages a portfolio of approximately $850 million that is on track to reach $1 Billion by 2020. IRI makes investments in a wide range of private asset classes. Approximately half the portfolio is in real assets with the other half invested in social purpose enterprises and financial intermediaries. The portfolio is divided equally between debt and equity, and approximately 75% of the portfolio is domestic.

Reporting to the Head of Real Assets for IRI, the Manager will be responsible for evaluating, executing, and managing impact investments in real assets, including affordable housing, transformative development, and selected other asset classes and investment themes. The role will generally require cultivating a pipeline of investment opportunities, assessing their qualitative and quantitative merits, and working with legal, accounting, and other professionals to close several transactions with a cumulative value of $50-100 million each year. The Manager will also be responsible for reporting on these investments, monitoring their progress, and managing any workouts or modifications.

Responsibilities:

  • Transaction evaluation and underwriting
    • Identify transactions that meet the impact and credit screens applied to all IRI work
    • Assess and report on transactions as they move through the pipeline development process
    • Evaluate and address credit risks
    • Work with third party vendors and others to gather and analyze relevant transaction-specific information
  • Deal structuring, closing, and execution
    • Review initial documentation for transactions -- interacting with partners, lenders, attorneys, and internal operations team
    • Monitor investments during deployment and manage any relevant issues with sponsors, partners, and third-party consultants
    • Assist as appropriate in disposition of assets
  • Portfolio management
    • Produce periodic internal reports for regular portfolio review meetings
    • Review partner financials and operating results and address any issues or concerns
    • Review periodic reports prepared by analysts and respond to portfolio and corporate information requests
  • Portfolio strategy and planning
    • Help develop and implement the IRI impact framework and measurement tools
    • Develop and maintain a perspective on portfolio direction and sub-strategies, as they relate to regional markets, asset classes, or other segments
    • Prepare and deliver presentations on aspects of portfolio strategy in collaboration with other personnel
  • External communications/events
    • Attend industry conferences and public events
    • Present on individual transactions or portfolios of work, as appropriate



Qualifications:
  • Experience in the real estate sector, preferably in a role requiring quantitative analysis, due diligence, deal structuring, underwriting, and/or modeling
  • Demonstrated interest in impact investing and multiple bottom-line concepts
  • Commitment to Prudential's mission and values
  • Bachelor's degree required, advanced degree (M.B.A. or similar) preferred
  • 3-5 years of relevant professional experience
  • Fluency in financial concepts such as NOI, cash flow measures, ratios and multiples, internal rate of return, present value/discounted cash flow, amortization
  • Strong Excel ability
  • Demonstrated experience performing market research across a broad range of asset types using a mix of natural curiosity and analytic tools
  • Strong interpersonal/communication skills; ability to develop and ask questions
  • Confidence and desire to make presentations to senior management, investment committee or outside audiences, when necessary
  • Time management and prioritization skills
  • Capacity for self-directed work


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