Investment Associate

Cockrell Interests LLC
Houston, USA
Competitive Salary
22 Nov 2022
22 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Cockrell Interests Overview:

Cockrell Interests is a Houston-based family office investment firm, which was founded in the mid-1990s after a series of exits in the oil and gas industry. Cockrell Interests manages a diverse set of assets for the Cockrell family, including public security portfolios, private direct investments, and a variety of private funds. Cockrell Interests has over 35 full-time employees in its Houston office. In addition, the Cockrell Foundation provides support to various institutions, notably the Cockrell School of Engineering at the University of Texas, M.D. Anderson Cancer Center, the Houston Methodist Hospital System, and the Houston Museum of Natural Science.

The investment team at Cockrell consists of four main groups: public equity, private equity, energy, and real estate. This position would assist the public equity team, which also covers venture capital funds and private growth co-investments.

Role Overview:

Reporting to the Chief Investment Officer, the Investment Associate will operate as a generalist member of the investment team splitting their time working on both public and private investment opportunities. This work will include:
  • Helping to run an internally managed public securities portfolio along with supporting the underwriting of private direct investment opportunities
  • Sourcing, diligencing, and monitoring a portfolio of external investment managers in public equities, private equity, and venture capital

Roles and Responsibilities:

Direct investing:
  • Conduct traditional deep dive fundamental research, construct detailed three statement financial models, generate price targets, identify key investment themes across industries, and write thorough investment memos.
  • Identify and rigorously evaluate key valuation drivers, thematic views, industry trends, and idiosyncratic questions.
  • Conduct thematic research, participate in investor conferences, meeting with company management teams, monitor company and industry events.

Manager allocations:
  • Seek out, partner with, and learn from the world's best investors, with the goal of allocating capital to the most compelling public and private investment opportunities available globally. As part of this 'managing the managers' process we look to develop investment insights and ideas along with cultivating co-investment opportunities.
  • Source external managers leveraging existing contacts, newly developed relationships, and independent research. Build a market map of the best managers in a specific space and understand how they stack up against the competition.
  • Conduct due diligence on existing and prospective investment managers by (a) evaluating the team and its strategy, (b) analyzing its portfolio holdings and performance, (c) visiting with managers and portfolio companies across multiple industries and geographies, (d) conducting reference calls, and (e) debating investment-related merits and risks with colleagues.
  • Research, write-up, and present market overviews, broad investment and industry trends, individual investment projects, and other thought pieces.
  • Organize and write detailed investment memos
  • Manage relationships with existing managers, monitoring underlying portfolios and evaluating co-investment opportunities

Candidate Characteristics:
  • Strong financial modeling skills including experience building three statement models from scratch
  • Strong analytical and technical skills
  • Excellent oral and written communication skills
  • Keen attention to detail and the ability to manage deadlines and multiple tasks
  • Ability to work independently and as part of a team
  • Comfortable investing in a concentrated portfolio
  • A natural state of curiosity and passion for investing
  • Self-motivated, innovative, and constantly looking to improve
  • Proficient knowledge in Microsoft Excel, Word, & PowerPoint
  • Culturally able to work in a highly collegial environment and be comfortable with a consensus-driven and collaborative approach
  • Be a self-starter, who can interact collaboratively, but operate independently as required; Be hungry and entrepreneurial.
  • Be intellectually inquisitive and analytically strong
  • Be open to learning from more experienced colleagues
  • Have acute organizational and communication skills, coupled with a high level of maturity and professional presence
  • S/he must possess unquestionable integrity and professionalism.

  • Bachelor's degree
  • 2-5 years relevant work experience including family office, mutual fund, hedge fund, investment bank or private equity
  • Eligible to work in the U.S. with no restrictions
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