The Direct Private Investments (“DPI”) Analyst helps support DPI’s efforts to originate, evaluate, approve, and distribute private direct and co-investment ...
The Teacher Retirement System of Texas is seeking a motivated investor to join its Private Equity (PE) team in Austin, TX. PE oversees the Trust's allocation to the private equity asset class. This portfolio represents approximately $20 billion of TRS's $150 billion Trust. The individual selected for this position will work with the PE team in sourcing, underwriting, investing and managing new and existing fund and principal investments across the private equity portfolio. You will have a unique opportunity to work with leading global investors across a wide variety of private equity strategies, industries and regions.
The ideal candidate for this role is intellectually curious; able to analyze complex data to identify risks and opportunities; has the capacity to work in a fast-paced, collaborative team environment; and is driven to help improve and innovate the team's approach to investing.
This professional will perform highly advanced to complex investments research and analysis work. Work involves performing due diligence analysis of potential private equity investment opportunities, and assisting with day-to-day monitoring and reporting of the investment portfolio. Works under limited supervision with considerable latitude for the use of initiative and independent judgment. This position reports to the Managing Director of Private Equity.
This position will be filled at one of two levels (Senior Associate or Investment Manager) depending upon the qualifications of the individual selected and the discretion of the hiring manager. Salary is commensurate with experience.
WHAT YOU WILL DO:
Due Diligence and Analysis
· Performs investment analysis for potential private equity investment opportunities, including principal investments and fund commitments, using any reliable printed or electronic media, partnership offering memoranda, and one-on-one contact with general and limited partners.
· 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.
· Conducts reference checks and evaluates the organization's leadership team, strategy, market opportunity, historical and pro-forma financials, operations, and competitive environment.
· Negotiates (or assists in the negotiation of) the investment management partnerships.
· Documents and organizes the record of the manager due diligence process.
· Consults or coordinates with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
· Assists in evaluating portfolio diversification by geography, industry, and sub-strategy.
· Assists with the development, monitoring, and reporting of diverse portfolio investments.
· Develops and maintains professional relationships and contacts within the investments industry in order to conduct searches and gain knowledge of appropriate investment opportunities.
· Works as part of a team to implement best operational and risk management practices.
· Works with TRS portfolio management systems such as eFront, Tamale and DealCloud.
· 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:
· 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.
· A Master's degree in a related area may substitute for one (1) year of required experience.
Senior Associate Minimum Experience:
· Five (5) years of full-time professional private equity investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation, such as private equity, investment banking, consulting, corporate development, or similar background.
Investment Manager Minimum Experience:
· Seven (7) years of full-time professional private equity investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation, such as private equity, investment banking, consulting, corporate development, or similar background.
· Master of Business Administration (MBA) or Master's degree related to finance.
· Experience in investment banking and/or underwriting private equity direct investments / fund offerings, or
· Certification as a Chartered Financial Analyst (CFA) or working towards CFA.
· Certification as a Chartered Alternative Investment Analyst (CAIA) or working towards CAIA
KNOWLEDGE SKILLS AND ABILITIES:
· Private equity valuation metrics and markets.
· Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
· Institutional private equity portfolio management.
· 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.
· Verbal and written communication of complex information that is accurate, timely, and based on sound judgment.
· 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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