The University of Virginia Investment Management Company (UVIMCO) seeks a Director of Investments to join their team managing approximately $10 billion of assets on behalf of the University of Virginia and its associated organizations. UVIMCO’s portfolio is invested globally across a broad range of strategies including public equity, long/short equity, private equity, venture capital, real assets, absolute return, credit, fixed income, and derivatives. UVIMCO has one of the highest levels of long-term investment performance of any public or private educational institution in the country, having achieved a long-term rate of return that compares favorably with both benchmarks and peer institutions.
UVIMCO currently employs approximately forty full-time staff. The investment team monitors and evaluates the full spectrum of global investment strategies and allocates capital to active external managers. Bottoms-up manager selection is balanced by a top-down approach to risk management and direct positions. The investment team includes the CEO/CIO, five managing directors, one director, and several associates and analysts. Biographical sketches for UVIMCO’s senior staff are available on UVIMCO’s website.
The Director of Investments (Director) will interact with all employees but will report directly to the CEO/CIO. The Director’s primary responsibility will be to manage the absolute return and credit portions of the Long Term Pool, which include a wide variety of benchmark-agnostic public and private hedge fund strategies, exclusive of long/short. The Director will work closely with many members of the investment team and will be expected to contribute positively to all investment decisions made at UVIMCO. Successful candidates must be collaborative in nature and will demonstrate initiative, excellence, intellectual honesty, and a true passion for investment management.
- Work collaboratively with the team to help generate attractive long-term real returns for the Long Term Pool within the risk tolerance of the University;
- Serve as a member of UVIMCO's Investment Committee, and participate in all aspects of UVIMCO’s investment decision making process;
- Manage the absolute return and credit portfolio, which involves sourcing and researching new investment managers as well as monitoring and evaluating the current portfolio;
- Provide back-up coverage for other areas of the Long Term Pool including long-only and long/short public equity, private equity, real assets, fixed income and cash;
- Develop and research investment themes that will add value to long-term real returns;
- Recruit, supervise and develop investment associates, analysts and interns; and
- Prepare investment reports and recommendations for the UVIMCO team and Board of Directors.
Skills and Qualifications
The ideal candidate will possess:
- A broad and deep understanding of credit and absolute return managers and strategies, and 10+ years of manager selection experience;
- A strong network of successful absolute return and/or credit-oriented investment managers, including quantitative strategies, and the demonstrated ability to establish effective working relationships with external managers and other constituents;
- Superior communication and interpersonal skills, including the ability to work closely with an experienced and dedicated investment team;
- Excellent analytical skills, with the ability to comprehend broader market trends;
- An ability to integrate “top down” and “bottom up” perspectives into specific investment recommendations; and
- Entrepreneurial work habits and consistent attention to detail.
- Deep and broad quantitative skills are highly attractive, but not required; and
- Demonstrated experience managing a credit or high yield portfolio is highly attractive, but not required.
The ideal candidate will also demonstrate a strong appreciation for the endowment model of investing, the active management process, and alternative investment strategies. Affinity for the University of Virginia or the Charlottesville, VA area and CFA/MBA are preferred
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