The Alaska Permanent Fund Corporation (“APFC”) manages the ~$80 billion Alaska Permanent Fund, a sovereign endowment established in 1976 to …
The Teacher Retirement System of Texas is seeking a motivated investor to join its Private Equity (PE) team in Austin, TX. The team oversees a portfolio of private investments representing approximately $26 billion of the $170 billion TRS Trust. The PE Senior Analyst or Associate performs complex to advanced investment research and analysis for potential PE investment opportunities, including principal investments and fund commitments.
Work involves performing due diligence of potential PE investment opportunities and assisting with day-to-day monitoring and reporting of the investment portfolio. In addition, responsibilities may also include assisting the Investment Management Division with fundamental and statistical research and analysis. The Senior Analyst or Associate will work under general to limited supervision, with moderate to considerable latitude for the use of initiative and independent judgment. This position reports to the Managing Director of PE.
Compensation: The TRS Investment Management Division offers an attractive compensation package consisting of base salary, annual performance incentive bonus, a defined-benefit pension plan as well as 401(k) and 457 retirement plans, and comprehensive benefits.
Depending upon the qualifications of the individual selected and the discretion of the hiring manager, the position will be filled at one of two levels (Senior Analyst or Associate). Starting salary is commensurate with experience.
State classification information:
Senior Analyst: 1131/Investment Analyst II/B24
Associate: 1132/Investment Analyst III/B26
WHAT YOU WILL DO:
Due Diligence, Research and Analysis
· Performs fundamental and statistical investment analysis for potential PE investment opportunities, including principal investments and fund commitments.
· Communicates analysis of investment opportunities, results, and recommendations with the relevant portfolio managers(s) and/or senior staff via verbal and written reports and presentations, including preparing qualitative and quantitative reports, memoranda, and spreadsheets.
· Assists investment managers in performing due diligence for PE and principal investment opportunities, including thorough review of industry and company details, conducting reference checks, running detailed financial (LBO) models, and evaluating the overall merits and risks, valuation, return profiles, and terms of partner-led bid processes on companies across sectors and geographies.
· May provide timely written or oral reports of analysis and recommendations to Investments staff and management.
· May assist in conducting reference checks and evaluating leadership team, strategy, market opportunity, historical and pro-forma financials, operations, and competitive environment of potential investment opportunities.
· Consults or coordinates with investment managers, analysts, investment accounting, legal counsel, custodian, third-party advisors, and consultants.
· Evaluates portfolio diversification by geography, sector type, and investment style.
· Assists with the development, monitoring, and reporting of diverse portfolio investments.
· Prepares reports related to performance, risk, and other ad hoc reports related to the PE portfolio.
· Utilizes TRS portfolio management systems such as DealCloud and PowerBI.
· Ensures that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
· Performs related work as assigned
WHAT YOU WILL BRING:
Minimum Required Qualifications
· Bachelor’s degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, operations research, math, information technology, liberal arts or a related area.
· Preferred Master’s degree may substitute for one (1) year of the required experience.
· One (1) year of full-time professional PE investments experience or other experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation such as PE, investment banking, consulting, corporate development, or similar background.
· Three (3) years of full-time professional PE investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation, such as PE, investment banking, consulting, corporate development, or similar background.
· One (1) to Five (5) years of full-time professional PE investments experience or other experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation such as PE, investment banking, consulting, corporate development, or similar background.
· Master of Business Administration (MBA) or Master’s degree related to finance/economics.
· Experience in investment banking and/or underwriting PE direct investments / fund offerings.
· Certification as a Chartered Financial Analyst (CFA) and/or Chartered Alternative Investment Analyst (CAIA) or working towards CFA/CAIA.
Knowledge, Skills and Abilities
· PE valuation metrics and markets.
· Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
· Statistical concepts, methods, and models, and their application to investments.
· Corporate valuation metrics and techniques.
· Financial modeling and valuation analysis.
· Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.
· Conducting data searches and evaluations of large amounts of information, performing complex statistical analysis of the data, and preparing concise and accurate reports and written/oral recommendations.
· Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.
· Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
· Work effectively in a professional team environment.
· Travel regularly for business purposes.
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