Investment Officer III - Head of Private Markets
Head of Private Markets
Summary of Duties:
The Investment Officer III is responsible for the administration and implementation of the management of the LAFPP Plan Investment Program, and any staff assigned thereto. An Investment Officer III is immediately responsible for the investment staff oversight and administration of all projects including asset allocation, risk management and asset classes such as: Fixed Income, Domestic or International Equities; Private Equity; Real Assets including Private Real Estate; Credit Opportunities and Commodities; Hedge Funds. The Investment Officer III will be responsible for the coordination, preparation and review of staff reports for quality and completeness and will perform other duties related to the overall management of the division. Reports directly to the Chief Investment Officer.
Examples of Duties:
- Assists with the management of the asset portfolio and recommends investment philosophies, portfolio construction, manager selection, policies, and strategies to optimize or maximize risk-adjusted returns, manage and reduce risk, monitor cash flows to ensure sufficient liquidity, reduce costs and recommend investment-related strategic goals
- Assists with the oversight and monitoring of the private market asset allocation construction and procedures to accomplish fund financial objectives
- Assists with the recommendation and negotiation of contracts and amendments for contracts of investment management firms and consultants, including evaluating and negotiating costs, compensation structure, the content of requests of proposals, and selections of investment management firms for possible contracting
- Assists in the development of recruitment and selection criteria for hiring investment managers
- Assists in the review of proposals and preparation of reports and recommendations of the results of the review process
- Assists with monitoring the performance, security selection, portfolio attribution, and risk management of all asset class investment managers to benchmarks and peer groups, and reports on any exceptional events
- Assists with monitoring a risk management system, including the oversight of investment managers, advisors, and consultants to ensure compliance with fund policies; directs and enforces compliance when exceptions are noted
- Monitors the capital markets and economic forecasts and provides reports with ongoing analysis of global economic conditions as it relates to the investment portfolio
- Assists in the preparation of reports related to fund transactions and special requests
- Assists in presenting information at conferences and training seminars on asset allocation and other investment-related issues
- Assists in executing buy/sell decisions based on a thorough understanding of the capital markets, public markets, private markets, interest rate, credit, and other capital market factors
- Reviews, summarizes, and presents private market manager’s quarterly and annual fund reports.
Degree in Finance, Economics, or Mathematics, MBA, CFA, and/or CAIA preferred. Direct private market (Hedge Funds, Private Equity or Real Estate) portfolio construction, manager research, portfolio management and risk management experience preferred. Direct experience with secondaries, co-investments, and the sale of underperforming interest preferred. 5 years of experience in institutional pension investing with knowledge of basic concepts and practical application of private market assets and management; asset allocation, portfolio rebalancing, domestic and non-US equity, fixed income markets, credit opportunities, private equity, real assets including private real estate, and other alternative asset investment strategies or trading at the level of Investment Officer II, is highly desirable.
Graduation from a recognized four year college or university; and three years’ experience in a public agency, commercial bank, investment banking firm, or brokerage firm with responsibilities for the purchasing or selling of money-market instruments, cash management analysis, and analysis of short-term investments and economic forecasting; or four years of experience in investment analysis, financial analysis, institutional investing or consulting, performing portfolio management, securities research or analysis, or account administration on behalf of tax exempt clients.
Please note: LAFPP does not cover relocation costs.