The Minnesota State Board of Investment is responsible for the investment management of various retirement funds, trust funds, and cash accounts for the State of Minnesota. The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota Constitution to invest all state funds. Its membership as specified in the Constitution is comprised of the Governor (who is designated as chair), State Auditor, Secretary of State, and Attorney General.
Job Class: Investment Officer
Working Title: Investment Officer, Private Markets
Who May Apply: Open to all qualified job seekers
Date Posted: 12/23/21
Closing Date: Open until Filled
Hiring Agency/Seniority Unit: State Board of Investment (SBI)
Work Shift/Work Hours: Day Shift
Days of Work: Monday - Friday
Travel Required: Yes - up to 25%
Salary Range: $134,446 - $190,592/ annually
Classified Status: Unclassified
The Investment Officer, Private Markets will conduct investment research & analysis, lead due diligence efforts used in hiring and monitoring investment managers, evaluate investment portfolio performance, and contribute to portfolio risk management efforts. The successful candidate will work with other investment staff across the entire State Board of Investment (SBI). The State Board of Investment's private markets staff is responsible for identifying, performing due diligence, monitoring, and reporting on all private markets investments, including private equity, real estate, private credit and other real assets investments.
The SBI is responsible for the management of over $127 billion in assets from state and public employees invested in the defined benefit, defined contribution, and deferred compensation plans, non-retirement accounts, and state cash accounts.
This position is responsible for the following:
- Working closely with SBI staff, general partners, consultants, and other constituents to implement goals and objectives.
- Maintaining and developing relationships with the SBI’s private markets general partners.
- Participating actively in small and large group meetings with staff, external investment managers and the SBI’s Investment Advisory Council and other constituents.
- Identifying, evaluating, recommending, and monitoring private markets investments.
- Performing due diligence and developing relationships with potential new investment opportunities.
- Coordinating the discussion of general partner legal and business terms and conditions in partnership agreements with SBI’s internal legal staff.
- Assisting SBI senior investment staff in developing and implementing overall portfolio strategy.
- Assisting in overall private markets strategic portfolio management, including cash flow modeling, asset class review and general preparation of written and verbal presentations.
- Attending off-site annual meetings, diligence and monitoring meetings and industry conferences.
- Contributing as a member of a team committed to diversity, equity and inclusion in our work and workplace.
- Bachelor’s Degree from a reputable institution.
- At least three (3) years of professional experience as an analyst, researcher, consultant or similar position within finance or investment setting.
- Intermediate-to-advanced skill level in Microsoft Excel.
- Successful completion, or enrollment in the program and demonstrated continuous progress towards completion, of the Chartered Financial Analyst (CFA) program will be required of the successful applicant.
- At least three (3) years of experience as an analyst, consultant or similar position within an institutional investment management or plan sponsor setting with a particular focus on private markets investing.
- Progress toward an advanced degree and/or CFA designation.
- The development of a network of peers in the private markets and institutional investment industry.
It is the policy of the SBI that all employees submit to a background investigation prior to employment. The background check may consist of the following components:
- SEMA4 Records Check (applies to current and past State employees only)
- Criminal History Check
- Employment Reference Check
- Social Security and Address Verification
- Education Verification
- Driver's License Check
Why Work For Us
The State of Minnesota also has over 100 state agencies, so the possibilities of serving our great state through a multitude of programs and roles are endless! The State of Minnesota also has our own Enterprise Talent Development department to keep your skills and knowledge sharp. You may also qualify for Public Service Loan Forgiveness, which forgives the remaining balance of your student loans after 120 qualifying monthly payments!
What’s also great about this job is the competitive wage and comprehensive benefits package including low cost/high value medical and dental insurance, employer paid life insurance, retirement plan, health care savings plan, generous vacation and sick leave, paid holidays, and numerous tax-deferred benefit options (e.g., 457B investment plan, long and short-term disability plans, etc.). Benefits offered are:
- Medical and dental insurance
- Life insurance
- 11 paid holidays per year
- Parental leave
- Pension and retirement saving plan
- Vacation and Sick leave
- Long and short term disability insurance
How to Apply
Candidates can apply by clicking HERE.
For additional information about the application process, go to http://www.mn.gov/careers.If you have questions about applying for jobs, contact the job information line at 651-259-3637.