Associate Portfolio Manager - San Francisco County, CA, United States - State Teachers' Retirement System

State Teachers' Retirement System

Verified Company

San Francisco County, CA, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.

To help bolster its co-investment activity, the Private Equity team seeks to recruit an Associate Portfolio Manager to support the Portfolio Managers of Direct Investments on all investment activity.

Key responsibilities will include execution of transactions, portfolio monitoring and oversight, performance measurement, assisting in the development of a comprehensive strategy for the co-investment program, and supervising and mentoring staff.

Additional details around these responsibilities are described below but not limited to the following:

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Transaction Management & Portfolio Oversight: Perform due diligence and underwriting on all co-investments and other transaction types (partnerships, secondaries, strategic relationships, special situations, etc.) assessing past and projected financial performance, quality of management teams, investment merits and risks, expected returns, and market attractiveness. Continuously evaluate and improve the investment due diligence and approval process to meet the abbreviated timelines of co-investment transactions (primary and secondary). Set objectives and performance standards to weigh the overall soundness of investment theses and risks to determine if investment characteristics fit CalSTRS' portfolio requirements. Assist in co-investment sourcing (primary and secondary) from private asset investment managers (both existing and potential) to find investment opportunities with an attractive risk/reward proposition and strong potential for value creation.
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Performance Measurement: Provide insights and data supporting how the private equity co-investment portfolio is likely to develop over time, given the current asset mix as well as the projected future opportunity set. Review and analyze program-wide performance quarterly while recommending and implementing program adjustments. Monitor and analyze co-investment portfolio risk including the utilization of a portfolio allocation model that measures vintage year, sector, stage, and investment manager allocation. Benchmark co-investment portfolio performance across various dimensions that include vintage year, sector, strategy against the Private Equity Policy benchmarks (public and GXPEI).
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Program Strategy:Assist in the development of a comprehensive strategy for the co-investment program (primary and secondary) in order to determine the optimal portfolio structure that meets or exceeds the total return objectives of the Private Equity program and the overall CalSTRS Investment Portfolio. Map the universe of co-investment opportunities (primary and secondary) to identify additional themes and areas where CalSTRS can invest and leverage its strengths. Support Portfolio Managers in the development of program-wide strategies, policy modifications, and individual investments (new or existing) for presentation to a variety of stakeholders.

An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential.

Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available._

You will find additional information about the job in the
Duty Statement.

Working Conditions

This position is not eligible for visa sponsorship.

Applicants must be authorized to work in the US without the need for visa sponsorship by the start date of employment with CalSTRS.

Work Location:

This is a hybrid position, which entails working in-office in San Francisco, CA two days a week and at CalSTRS Headquarters in West Sacramento, CA one day a week, with travel expenses reimbursed.

The San Francisco office, situated at 44 Montgomery Street in the heart of the San Francisco Financial District, is easily accessible from Montgomery BART and Muni stations, the San Francisco Ferry Building, and is bike-friendly.

Minimum Requirements

You will find the Minimum Requirements in the Class Specification.

ASSOCIATE PORTFOLIO MANAGER

Additional Documents

Job Application Package Checklist
Duty Statement

Position Details

Job Code #:

JC431715

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Position #(s):

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Working Title:

Associate Portfolio Manager, Direct Investments

Classification:

ASSOCIATE PORTFOLIO MANAGER

$10, $15,000.00

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# of Positions:

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Work Location:

San Francisco County

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Telework:

Hybrid

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Job Type:

Permanent, Full Time
Department Information

Cal

STRS:
Securing the financial future and sustaining the trust of California's educators
CalSTRS is the largest educator-only pension fund in the world, providing reti