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Company Name : Insurance Fund, State
Location : New York, NY 10007
Position : Private Markets Portfolio Manager
Job Description : Basic Qualifications:
Bachelor’s degree with strong academic qualifications; an MBA or CFA designation is preferred. Candidate should have a minimum of 7-10 years of experience in alternative-asset investments,
with knowledge of the full spectrum of investment options, including private equity, private debt and real estate; familiarity with leading managers, investment processes, operations, and compliance protocols; an understanding of fund structures, accounting treatment and valuation; experience in calculating rates of return, fees and carried-interest allocations. Minimal travel required.
Seeking candidates with the following attributes:
Goal-oriented individual with solid organizational skillsStrong quantitative skills and analytical abilityCompelling presentation skills, and outstanding verbal and written communication skillsA foundation in manager research, selection and monitoring, and experience with alternative-asset execution through the primary and secondary markets (incl. coinvestments)Ability to work well independently and with potential asset managers or deal teams
Duties DescriptionDescription:
The New York State Insurance Fund (NYSIF), with over $22 billion of assets under management, is seeking a seasoned investment professional to spearhead its initial foray into
alternative assets. NYSIF’s initial alternative-assets focus is expected to include private equity, real estate and private credit. This represents a unique opportunity to join a dedicated team of
investment professionals and help chart the Fund’s future direction in the asset class. This newly created position reports to the Chief Investment Officer. Salary will be commensurate
with experience.
Illustrative Duties:
The Private Markets Portfolio Manager will assist with the design and implementation of a strategy for private-market assets, real assets and other alternative asset classes for the Fund.
Responsibilities will include identifying and analyzing investment opportunities in the alternative assets area; assisting with policy creation and implementation; preparing investment
memoranda; and actively monitoring all alternative-asset holdings. The person will assist with asset allocation, especially as it relates to sub-asset classes within alternative assets; actively contribute to vetting potential fund managers; and participate in meetings with the Investment Committee of the Board.
Specific duties may include, but are not limited to:
Program Development and Implementation:
Design and develop investment policy statement, objectives and procedures for
investing in alternative assets
Establish a process to critically assess fund managers, their processes, and their risk management approaches and capabilitiesEstablish and monitor appropriate limits and constraints (e.g., industry concentrations)Establish processes and guidelines for portfolio valuationCollaborate with NYSIF colleagues and other stakeholders to ensure appropriate risk management
Sourcing Managers, Due Diligence, Investment and Monitoring Investments:
Collaborate with Investment Consultant and NYSIF colleagues on investment opportunitiesAssist in evaluating and selecting external investment managers using qualitative and quantitative due diligence, including identifying potential opportunities with emerging
managers and minority-owned firms
Model and value alternative assets and, for funds, their underlying investments, including possible liquidation eventsPrepare written proposals for investing in primary- and secondary-market offerings of alternative assetsAnalyze program strategy, and articulate strengths and weaknesses to managementWork with Investment Consultant to develop a network for sourcing managersChallenge underlying investment assumptions, assess liquidity and evaluate sensitivitiesEvaluate portfolio performance, using measures such as MOIC, IRR, and PMEMonitor and report on manager / portfolio performance relative to expectationsPartner with legal professionals to review Limited Partner AgreementsLead groups of NYSIF colleagues and other stakeholders to establish best practices for operations (incl. cash management) in respect of investments in alternative assets
Additional CommentsNYSIF has a telecommuting program
This post is listed Under New York jobs
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