The Private Markets Director/Associate Director will be a senior member of the Carleton College Investment Office team. This position will be expected to contribute thought leadership and insight to the work of the Investment Office and must be able to form and defend well-reasoned investment opinions and recommendations for the endowment portfolio.
The Director/Associate Director will contribute to the development of the endowment’s investment strategy, risk management framework and analytics based on an understanding of the underlying exposures of the portfolio. The Director/Associate Director will be responsible for conducting rigorous due diligence, including: sourcing ideas, evaluating and monitoring investment managers, and fulfilling all related aspects of documentation. In addition, the Director or Associate Director will lead research and analysis on a wide variety of evolving topics.
The Director/Associate Director must be seasoned and passionate about investing, have a sincere interest in the non-profit sector, and have an innate sense of responsibility with regard to representing the College.
The title (Director vs. Associate Director) and compensation for this role will be based on the successful applicant’s level of experience. This position reports directly to the Chief Investment Officer.
The Private Markets Director/Associate Director will work collaboratively with the Chief Investment Officer on the development of investment strategies and recommendations across a broad range of traditional and alternative asset classes, but primarily on illiquid investment vehicles such as private equity, real estate, and natural resources. <b.Primary responsibilities include the following:
• Proactively source and evaluate investment managers across a broad range of asset classes. Maintain a pipeline of prospective managers
• Perform rigorous due diligence on prospective managers and monitor existing managers
• Write recommendations and share knowledge regarding markets and managers with the Chief Investment Officer and the Investment Committee
• Work with legal counsel and other advisors to understand deal terms and manage the negotiation/closing process
Additional Job Responsibilities:
• Develop and foster industry relationships: maintain a dialogue with existing and new private markets managers; develop a broad network of industry contacts (e.g. peers, other sophisticated limited partners, consultants, academics, etc.)
• Contribute to the development of investment strategy, risk management frameworks and analytics based on an understanding of the underlying portfolio exposures
• Team development: establish key business objectives, conduct performance reviews, facilitate training and development of analyst and support positions
The Private Markets Director/Associate Director reports to the Chief Investment Officer but will work with other senior administration members, the Investment Committee, and other Trustees. This position will also contribute to the development and training of analyst and support positions within the Investment Office.
The Successful Private Markets Director/Associate Director
• An attitude that is: proactive, self-motivated, hard-working, enthusiastic and accountable
• The professional and personal skills necessary to help establish a small, high-performing ensemble
• The interpersonal attributes necessary to build credibility with College constituencies, investment managers, peers, and representatives of other service providers
• The flexibility to work both autonomously and collaboratively in a demanding environment
• A desire to have a meaningful impact, authority, and accountability
• The patience and temperament to pursue and invest in high conviction opportunities, with a long-term investment horizon
• Demonstrated capacity for independent thought, intellectual honesty and decision making
• Curiosity and keen attention to detail
• Excellent problem-solving analytic abilities
• An open mind and a healthy degree of skepticism
• An aptitude for synthesis and the ability to think strategically as well as tactically
• A strong understanding of capital markets and complex investment strategies
• A solid grasp of business fundamentals
• A practical understanding of incentives, legal and accounting issues, ideally with experience negotiating documents
• Excellent oral and written communication skills
• The ability to manage multiple tasks simultaneously and to meet deadlines
• Good sense and sound judgment
• A strong moral compass and the highest ethical standards
• The ability to travel as required