HEAD OF ALTERNATIVE INVESTMENT PROGRAM
The New Jersey Department of the Treasury’s Division of Investment seeks a senior investment professional with exceptional leadership skills and a strong understanding of alternative investment asset classes and pension fund management. The Division of Investment manages $77 billion of combined assets of the State of New Jersey’s seven public retirement systems; the 17th largest fund among the nation’s private and public pension funds. These funds provide benefits to almost 800,000 current and future retirees. The Head of Alternative Investments will oversee a team responsible for the management of the Division’s Alternative Investment Program (AIP). The AIP represents approximately 32% of total pension assets across private equity, real estate, real assets, risk mitigation, and private credit. The Division’s proximity to major financial markets in New York City offers staff the unique advantage of accessing its financial partners and their expertise on a regular basis. The Division also enjoys the benefits of a very experienced and knowledgeable State Investment Council. The relationship between senior staff and the State Investment Council has been marked by close cooperation, with the Council committed to the Division's mission of "achieving the best possible return at an acceptable level of risk using the highest fiduciary standards.''
This position is responsible for developing the strategic investment plan for the Division’s AIP; managing subordinate Portfolio Managers and/or Analysts, including assigning responsibilities and workflow, as well as conducting performance reviews; sourcing and researching investment ideas across the AIP universe; conducting initial and ongoing General Partner and strategy due diligence; participating as a member of the Division’s Asset Allocation Committee which is responsible for recommending long-term strategic asset allocation as well as for tactical asset allocation shifts; managing external consultant relationships; presenting due diligence reports to the Division Director, Investment Policy Committee and State Investment Council of the State of New Jersey; managing the largest and most important relationships in the portfolio while evaluating co-investment opportunities and providing feedback to the Division Director; structuring new investments; identifying opportunities to reduce costs associated with the management of the AIP; negotiating business terms in legal agreements; attending annual meeting and advisory board meeting, reviewing financial statements, analyzing fund and company level information provided by firms and assessing those results; and attending conferences and industry events to stay current on market and trends.
EDUCATION: Possession of a Bachelor’s Degree in Finance, Accounting, or a related field. MBA and/or CFA and/or CAIA preferred. (APPLICANT SUBMISSIONS MUST INCLUDE A COPY OF DEGREE AND/OR TRANSCRIPTS (OFFICIAL / UNOFFICIAL) DOCUMENTING POSSESSION OF DEGREE).
NOTE FOR FOREIGN DEGREES: Degrees and/or transcripts issued by a college or university outside of the United States must be evaluated for accreditation by a reputable evaluation service at your expense. The evaluation must be included with your submission. Failure to submit the required evaluation may result in an ineligibility determination.
EXPERIENCE: Minimum of ten (10) years of general investment experience with at least five (5) years of directly related alternative investment experience in the applicable asset classes at a high-quality institutional investment organization.
Preference will be given to candidates who have experience in building, maintaining and managing investment programs; demonstrated ability to originate and maintain successful relationships with managers, investment consultants, and other service providers in the areas of focus; experience negotiating contracts and partnership agreements with investment managers; strong understanding of capital markets, exceptional written and verbal communication skills, and strong quantitative modeling capabilities.
RESIDENCY REQUIREMENT: In accordance with the NJ FIRST ACT, new public employees are required to obtain New Jersey residency within one (1) year of employment. Visit http://nj.gov/labor/lwdhome/njfirst/NJFirst.html for more information.
Salary is commensurate with education and experience. A comprehensive benefits package is offered.
If you are qualified and interested in this employment opportunity, please send your cover letter, resume and proof of degree via e-mail only, by May 2, 2018. All submissions must be received by 5:00 pm (close of business) on the last day of the posting period.
NJ Department of the Treasury
Division of Administration/Human Resources
Attn: Employment Recruiter
Email address: EmploymentRecruiter@treas.nj.gov
(Please use “HEAD OF AIP” in the Subject Line)
New Jersey is an Equal Opportunity Employer