The Iowa Public Employees’ Retirement System (IPERS) is seeking qualified candidates for an Investment Associate – Private Markets position. This position will assist in the management and oversight of IPERS’ $14B+ private markets investment portfolio, which includes private credit, real estate, timberland, farmland, infrastructure, and private equity. Periodic out-of-state and international travel required.
Due to the small size of the team, high impact opportunities involve exposure in all areas of private markets, particularly in underwriting credit investments and assisting with the team’s internal co-investment program. Additionally, assisting in investment fund selections and performing due diligence via on-site visits to investment management firms. An individual in this position will calculate private market performance, such as IRR, MOIC, DPI, TVPI, and PMEs and manage the program’s investment software, LP Analyst. Finally, a member in this role will develop connections across the private market industry by participating in meetings and calls with funds and evaluating fund financial and investment reports.
• Analyze and underwrite private credit co-investments.
• Calculate private market performance in Excel.
• Manage and maintain private market investment software, LP Analyst
• Collaborate and knowledge share in a flat organizational environment.
• Conduct cost/benefit analysis of private market investment strategies, products, and value co-investments.
• Prepare investment memos and presentations supporting recommendations.
• Partner with IPERS Investment team and gain exposure in public market asset classes through derivatives and strategic / tactical asset allocation.
• Chartered Financial Analyst (CFA) designation preferred
• Chartered Alternative Investment Analyst (CAIA) designation encouraged
Finalists will be subject to a background check.
Minimum Qualification Requirements
Applicants must meet at least one of the following minimum requirements to qualify for positions in this job classification:
1) Graduation from an accredited four-year college or university with a degree in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.), and experience equal to three years of full-time work in investment portfolio management or research for a stock exchange, investment or banking firm, public or private pension system, or treasurer's office.
2) All of the following (a and b):
a. Three years of full-time work experience in investment portfolio management or research for a stock exchange, investment or banking firm, public or private pension system, or treasurer's office; and
b. A total of four years of education and/or full-time experience (as described in part a), where thirty semester hours of accredited college or university course work in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.) equals one year of full-time experience.