Senior Investment Analyst - Private Equity/Co-investment
Cleveland Clinic Investment Office Overview
The Cleveland Clinic Investment Office (CCIO) is stewarded by the Investment Committee of the Board of Directors. Guided by the Investment Policy Statement for each of the investment portfolios, CCIO invests across a globally diversified pool of asset classes and employs many of the world’s most successful investment managers for security selection of public and private equities, fixed income, absolute return strategies, real assets and derivative products. CCIO is a values-driven organization. From its inception in 2015, the Investment Committee and senior leadership sought to create a division of the Cleveland Clinic whose foundation is excellence and innovation.
The Investment Office embraces a generalist model of investing where a team of experts are focused on delivering value to the total portfolio, engage in constructive debate, thrive on collaboration, embrace a sense of personal humility, and seek to continuously improve. CCIO is responsible for managing and growing the $14.5 billion overall investment portfolio.
Primary Objectives and Goals
The Senior Investment Analyst, Equity position is an integral part of the Equity team and the CCIO Investment team, providing support for investment and strategy decisions related to the CCF portfolios. The Equity Team is primarily tasked with oversight of the public equity, private equity, venture capital and private real assets segments of Long Term Investment Pool (LTIP) as well as all pertinent exposures in the Cleveland Clinic’s Defined Benefit Pension Plan and Captive Reinsurance pool. In collaboration with the CIO, the Managing Director of Equity, the Managing Director of Private Capital Strategies, and the Equity Team, this Senior Investment Analyst will primarily focus on the CCIO’s private capital investments program while supporting the Equity Team with its other responsibilities including investment in Public Equity markets. The position requires the ability to work in a collaborative, fast-paced environment, supporting the team in manager evaluation and underwriting, financial modeling, trading and rebalancing the portfolios, performing economic analysis, and other projects. Ongoing responsibilities will primarily be to support the investment team in sourcing, performing due diligence and analysis required to underwrite private capital investment across private equity, venture capital, and private real assets to include real estate and energy.
- Participate in idea generation, market research and analysis activities that create actionable investments in multiple asset classes.
- Build financial models to adequately assess and support the underwriting of investment themes and individual managers from both a risk and return perspective.
- Make recommendations to add or remove investment managers after significant due diligence, as well as maintain relationship for the manager once added to the portfolio.
- Compile market mapping, overviews and assessments of potential equity, fixed income, hedge fund, private capital and real asset managers, as well as economic and market analyses.
- Maintain quantitative and qualitative manager performance activity and holdings within the Clinic’s internal database.
- Collaborate with the risk management team at the inception of a new investment to develop elevated governance and oversight and agreed to boundaries and exit strategies for individual investments and/or investment themes. Evaluate risk on an ongoing basis for existing investments.
- Prepare internal monthly and quarterly manager and/or portfolio reports detailing performance, exposures, concentrations and other portfolio characteristics.
- Maintenance of presentations summarizing changes in the securities markets across asset classes
- Collection and preparation of data related to current portfolio positioning and asset class valuations in support of monthly portfolio rebalancing discussions
- Monitoring of asset class valuations and data for further research into potential new investment opportunities
- Support Research/Strategy Team to develop, shape and monitor investment themes
- Preparation of quarterly reports and presentations for CCF executive team and other CCF stakeholders
- Support annual detailed analysis of portfolio changes and investment decisions
- Participate in idea generation, market research and analysis activities that create actionable investments in multiple asset classes as a part of the Investment Office generalist model
- Other duties as assigned.
Functional Responsibilities include:
- Participate in idea generation, market research and analysis activities that create actionable investments in private investments to include private equity, venture capital and private real assets.
- Construct financial models to adequately create, assess, and execute investment themes and individual managers from both a risk and return perspective.
- Compile market mapping, overviews and assessments of private investments particularly in private equity, venture capital and real assets.
- Perform due diligence and analysis on private investments in order to create memos for presentation to the CCIO Investment team at Strategy Sessions and at other applicable meetings.
- Create economic and investment market updates for internal team and present a contrarian view.
- Maintain quantitative and qualitative manager performance, exposure and holdings within CCF’s internal databases.
- Collaborate with the risk management team to develop elevated governance and oversight and agreed to boundaries and exit strategies for individual investments and/or investment themes.
- Interface and lead meetings with existing and prospective managers, custodian bank and external service providers.
- Assist in the preparation of presentations to the Investment and Finance Committees and other internal CCF stakeholders.
- Participate in review, discussion and approval of new and re-underwritten investments in all asset classes, i.e., outside of Equity Team purview, as a CCIO Investment Team member at weekly Strategy Sessions.
- Prepare monthly and quarterly manager and/or portfolio reports detailing performance, exposures, concentrations and other portfolio characteristics.
- Complete special projects as deemed appropriate.
- Travel overnight both domestically and internationally to attend meetings with fund managers and/or portfolio company management teams.
- Bachelor of Arts or Bachelor of Science in Economics, Social Sciences, Mathematical Sciences, Engineering, Computer Science, Business or other related field required.
- Masters of Business Administration or Master of Science in Business, Finance, Economics or Mathematical Sciences, Data Analytics or other related filed required.
- Strong record of academic achievement preferred.
- Chartered Financial Analyst (CFA) or Chartered Alternative Investment Analyst (CAIA) preferred.
Complexity of Work:
- Within scope of job, requires critical thinking skills, decisive judgment and the ability to work with minimal supervision.
- Must be able to work in a stressful environment.
- Proficiency in Excel, PowerPoint, Word, Adobe Acrobat, Factset, Bloomberg.
- Minimum 5 years of relevant professional experience in Investment Banking, Management Consulting, or Asset Management.
Preferred Education and Professional Experience:
- Master of Business Administration (MBA) degree with a concentration in finance or a similar discipline with a strong record of academic achievement.
- A minimum of 5 to 7 years of relevant professional experience in Investment Banking, Management Consulting, or Asset Management.
- Excellent quantitative and analytical skills with a firm understanding of the financial markets and investment environment.
- High degree of individual initiative with a sense of urgency. Proven ability to meet deadlines.
- Demonstrated ability to coordinate continuous workflow with other internal and external parties.
- Proficiency in Excel, PowerPoint, Word, Adobe Acrobat, Factset, Bloomberg, Burgiss Private i, Dynamo.
- Possession or progression toward CFA or CAIA is desirable.