Real Estate Investment Associate - Sr Associate
WHO WE ARE:
With the Investment Management Division (IMD) you will be joining a diverse group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of 1.8 million public education employees and retirees throughout Texas.
Navigating the current market environment takes innovation and we’re passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with the best financial minds in the business to manage a global portfolio of over $190 billion in public and private investments. Our success starts with you.
The Investment Management Division of the Teacher Retirement System of Texas is seeking a Real Estate Investment Associate or Senior Associate to join the Real Estate Team in Austin, TX.
The TRS Real Estate team manages a $25+ billion portfolio of real estate investments located all over the world. We are diversified across geographies, risk profiles, and property types – including multifamily, industrial, office, hospitality, retail, and niche sectors. Our team, which is based out of Austin and London, participates in both debt and equity investments through commingled funds, separate accounts, co-investments, and direct principal investments.
The Real Estate Investment Associate or Senior Associate performs advanced to highly advanced (senior-level) investments research and analysis. Work involves performing due diligence analysis of potential investment opportunities and assisting with day-to-day monitoring and reporting of the investment portfolio. The Associate or Senior Associate works under limited to minimal supervision with considerable to extensive latitude for the use of initiative and independent judgment.
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 discretion of the hiring manager, the position will be filled at one of two levels: Associate or Senior Associate. Starting salary is commensurate with experience.
* Please Include a cover letter with your application in order to be considered for the position.
WHAT YOU WILL DO:
Due Diligence and Analysis
· Performs investment analysis for potential 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.
· Provides timely written or oral reports of analysis and recommendations to Investments staff and management.
· 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.
· Performs due diligence research and analysis for potential real estate investment opportunities.
· Conducts reference checks and evaluates the organization’s leadership team, strategy, market opportunity, historical and pro-forma financials, operations, and competitive environment.
· Consults or coordinates with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
· Evaluates portfolio diversification by geography, property/sector type, and investment style.
· Performs or assists with the development, monitoring, and reporting of diverse portfolio investments.
· Works with 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:
· 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.
· Three (3) years of full-time professional private equity or real estate investments experience or other experience involving a high degree of skill in data analysis and evaluation, such as financial analysis, engineering, or statistics.
· Five (5) years of full-time professional private equity or real estate investments experience or other experience involving a high degree of skill in data analysis and evaluation, such as financial analysis, engineering, or statistics.
Required Registration, Certification, or Licensure:
· Master of Business Administration (MBA) or Master’s degree related to finance.
· Experience as an Analyst or Associate in the Acquisitions or Asset Management group at an institutional real estate investment firm, institutional real estate investor, investment bank, or similar.
· Certification as a Chartered Financial Analyst (CFA) and/or Chartered Alternative Investment Analyst (CAIA) or working towards CFA/CAIA.
KNOWLEDGE, SKILLS AND ABILITIES
· Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
· Statistical concepts, methods, and models, and their application to investments.
· Real Estate valuation metrics and techniques.
· 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.