Assistant Manager of Private Equity
Under the direction of a Manager of Private Equity, the Assistant Manager of Private Equity will participate in all aspects of the Private Equity and Private Debt group’s day-to-day activities. This includes fund underwriting, preparing and presenting investment recommendations to an internal investment committee, sourcing investment opportunities, developing and maintaining a network of peers in the private equity and private debt industries, preparing reports for NYSTRS’ Board, assisting in the recruitment of Investment Officers, supervising Investment Officers, monitoring active fund investments, managing capital calls and distributions, approving limited partnership amendments, portfolio rebalancing and construction, representing NYSTRS at Limited Partner Advisory Committee or Annual meetings, various administration duties, and other ad-hoc projects as needed.
Travel is required and may represent up to 35% of the position.
The Assistant Manager of Private Equity is responsible for, but not limited to, the following duties:
- Leading staff through the screening, underwriting and presenting of investment recommendations – 30%
- Monitoring active fund investments – 25%
- Direct day-to-day supervision of junior staff and back office operations including approval of cash flow movements – 25%
- Attending meetings (in-person or virtual) or calls at NYSTRS, at a fund manager’s office, or at annual or advisory meeting with prospective or existing fund managers; taking notes in a CRM system, reporting key points of each meeting to the team – 10%
- Attending Internal Investment Committee and Board Committee meetings – 5%
- Various administrative tasks and ad-hoc projects -5%
A bachelor’s degree with a major in economics, finance, business administration, or a closely related field and six years of extensive investment management experience with a major financial institution, government organization, investment management organization, pension consultant or plan sponsor.
Five years of experience must include private equity and/or private debt consisting of:
- Conducting market research, building industry relationships and sourcing private equity and/or private debt investments
- Analyzing, evaluating, recommending, and monitoring private equity and/or private debt investments
- Supervising and mentoring staff
- A broad knowledge of the private equity market, private debt market, and leading firms in the buyout, turnaround, venture/growth, direct lending, mezzanine and special situations sector
- Extensive experience using a quantitative model to analyze private equity and/or private debt performance
- Commitment to providing exceptional customer service
- Excellent communication skills
- Excellent interpersonal skills
- Experience negotiating private equity and/or private debt legal documents including limited partnership agreements and side letters
- Experience with CRM and portfolio management systems
- Robust knowledge and understanding of the private markets industry
- Portfolio management experience
- Demonstrated ability to leverage network of contacts for sourcing and diligence of investment opportunities
- Experience serving on Limited Partner Advisory Committees
- Experience presenting investment recommendations to Boards or Investment Committees
- Excellent quantitative modeling skills including the ability to prepare accurate and appropriate documentation
- Ability to think strategically and work independently
- Chartered Alternative Investment Analyst (CAIA) charter holder or willingness to pursue completion Chartered Financial Analyst (CFA) charter holder or an advanced degree in finance, economics, business administration, accounting or a related field
- Experience in the purchase or sale of private equity and/or private debt secondaries
- Experience evaluating continuation funds or vehicles
- Experience on a search committee for a recruitment of an investment office
- Experience building or using a pacing model
- Experience on a Limited Partner Advisory Committee
NYSTRS is an equal opportunity employer. We are committed to fostering an inclusive environment where diversity is valued and recognized as a source of strength and enrichment. We seek to attract talented people from a diverse range of backgrounds and cultures, and encourage women, people of color, LGBTQ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
THIS IS NOT A REMOTE WORK POSITION.
This position does not come under the jurisdiction of the Department of Civil Service. It comes under the Manager/Executive Plan. New appointees to Manager/Executive Plan positions must serve a one-year review period. If you are currently employed by NYSTRS in a Confidential or Negotiating Unit position, you will be granted leave without pay from your current position while you are serving the review period. Upon successful completion of the review period, the hold on your current position will be discontinued and you will no longer have any rights under Civil Service.
This position falls under NYSTRS’ Personal Trading policy, which requires pre-clearance of personal trades and reporting of trading activity.