IMD Student Intern - Private Equity

WHO WE ARE:

The Teacher Retirement System of Texas is the largest public retirement system in Texas, serving more than 1.5 million people. Innovation, technology, and collaboration make the difference as we strive to continue earning your trust every day. TRS improves the retirement security of Texas public education employees through our 'best in class' investment management and delivery of pension and health care benefits.

Our Mission: Improving the retirement security of TRS members by prudently investing and managing the Trust assets and delivering benefits that make a positive difference in their lives.

The IMD Student Intern – Private Equity performs entry to routine (entry-level) investments research and analysis work for potential private equity investment opportunities, including principal investments and fund commitments.  Work involves assisting Private Equity management and staff with fundamental and statistical research and analysis, and in performing due diligence for potential investments.  Works under moderate supervision with limited latitude for initiative and independent judgment.  This position reports to the Senior Director of Private Equity.

Note:  This position is a full-time, limited term assignment scheduled to start in June 2022 and end in August 2022.  We are targeting students who will be graduating between December 2022 and August 2023.  We require that all IMD interns live in Austin, Texas for the duration of their internship.

WHAT YOU WILL DO:

Research and Analysis

• Assists with the performance of fundamental and statistical investment analysis for potential investment opportunities, including principal investments and fund commitments.

• Assists investment managers with the analysis of investment opportunities, results, and recommendations.

• Assists investment managers in performing due diligence research and analysis for potential private equity investment opportunities.

• Assists in conducting reference checks and evaluating the organization’s leadership team, strategy, market opportunity, historical and pro-forma financials, operations, and competitive environment. 

• Provides timely written or oral reports of analysis and recommendations to Investments staff and management.

Portfolio Monitoring

• Assists in evaluating portfolio diversification by geography, sector type, and investment style.

• Assists with the development, monitoring, and reporting of diverse portfolio investments.

• Assists with reporting related performance, risk, and other ad hoc reports related to the Private Equity portfolio.

• Works with TRS portfolio management systems such as DealCloud and PowerBI.

• Consults or coordinates with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.

• 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

Education:

• Must be currently enrolled in and actively attending a graduate program in finance, accounting, business administration or a related area.

• Applicant will be required to submit a copy of official college transcripts.

Experience:

• None.

Registration, Certification, or Licensure:

• None.

 Preferred Qualifications

• 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.

• Pursuing 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) and/or Chartered Alternative Investment Analyst (CAIA) or working towards CFA/CAIA.

Knowledge, Skills and Abilities

Knowledge of:

• 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. 

Skill in:

• 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.

Ability to:

• Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.

• Work effectively in a professional team environment.