The Robert Toigo Foundation

INVESTMENT OFFICER – PRIVATE EQUITY

NEW YORK STATE OFFICE OF THE STATE COMPTROLLER DIVISION OF PENSION INVESTMENT AND CASH MANAGEMENT
Published
April 30, 2019
Location
New York, NY
Job Type

Description

Created in 1797 by the State Legislature, the Office of the State Comptroller (OSC) is charged with ensuring that State and local governments use taxpayer money effectively and efficiently. The State Comptroller is elected for four year terms and serves as the State’s chief fiscal officer. Included among the Comptroller’s many oversight responsibilities is serving as the administrative head of the New York State and Local Retirement System (NYSLRS or System) and the trustee of the $207.4 billion New York State Common Retirement Fund (CRF or the “Fund”) (audited value as of March 31, 2018), one of the largest institutional investors in the world. Thomas DiNapoli has served
as the State Comptroller since 2007. He leads a staff of more than 2,700. The Office of the State Comptroller is headquartered in Albany but also has offices in New York City and eight regional offices around the State.

Within the State Comptroller’s Office is the Division of Pension Investment and Cash Management (PICM). This Division employs approximately 80 staff members, based in offices in Albany and New York City. Anastasia Titarchuk serves as Interim CIO and
Deputy Comptroller and Navyug Patel serves as Interim Deputy CIO.

For more information about the OSC, please visit the website at www.osc.state.ny.us

RESPONSIBILITIES OF THE INVESTMENT OFFICER – PRIVATE EQUITY
Based in the New York City office, the Investment Officer reports to a Director and Deputy Director, with ad-hoc reporting to Senior Investment Officers. This role is one of an individual contributor but will be expected to guide and mentor junior investment and
operations staff.

Essential Duties and Responsibilities include:

  • Independently conduct the due diligence process of managers and deals from end-to-end, including reference checks and documentation analysis
  • Form investment recommendations with minimal support and guidance from
    senior private equity staff
  • Coordinate with the relevant constituencies (e.g., managers, accountants, custodian, legal, consultants) to onboard private equity managers once an investment is approved
  • Work with the fund’s legal staff and custodian bank to establish new accounts and implement funding
  • Construct and maintain spreadsheets, models, analyses, and qualitative data on external managers
  • Assist senior investment staff in deal origination by proactively identifying new opportunities and manager
  • Build and maintain ongoing private equity manager relationships
  • Monitor a diverse portfolio of private equity investments, which includes recurring reviews and ad-hoc analysis of both individual manager and company-level performance
  • Assist in analyzing the private equity portfolio’s diversification by geography, sector, and investment style

PREFERRED QUALIFICATIONS/DESIRED COMPETENCIES

  • Bachelor’s degree in business, economics, or similar quantitative filed. An advanced degree and CFA pursuit are preferred
  • Three or more years of relevant financial experience
  • Ability to conduct quantitative analysis (e.g., models) and research to evaluate investment decisions
  • Ability to form value-added judgements on the merits of investment opportunities across structures (e.g., managers, co-investments, JVs, etc.) with support and occasional input from Senior Officers and the Director
  • Strong knowledge of private equity concepts, strategies and fundamental investment factors

PERSONAL CHARACTERISTICS

  • High ethical standards and commitment to the fiduciary responsibilities of a public pension fund
  • Strong written and verbal communication skills in order to produce investment memos, deal presentations, and participate in internal investment strategy meetings as well as external manager meetings
  • Ability to build relationships with a variety of internal and external contacts, such as consultants, managers, vendors, peer institutions, other departments of OSC, etc.
  • Team player who is energized by a collaborative working environment within and outside of the asset class and is able to complete assignments independently in a timely manner

COMPENSATION
The OSC will offer the successful candidate a competitive base salary and a comprehensive benefits package including a choice of health insurance packages, dental and vision insurance, generous PTO, a contributory retirement plan, and a voluntary deferred compensation plan. The OSC encourages ongoing professional development through various continuing education programs.

 

APPLICATION PROCESS
EFL Associates, an executive search firm, is assisting the OSC with this important search. All calls and inquiries should be made through the search firm. Referrals and applications will be held in confidence. Review of applications will begin immediately and will continue until the position is filled.

NON-DISCRIMINATION
Our client and EFL Associates firmly support the principle and philosophy of equal opportunity for all individuals, regardless of age, race, gender, creed, national origin, disability, veteran status or any other protected category pursuant to applicable federal, state or local law.

EFL ASSOCIATES
Metropoint 1
4600 South Ulster, Suite 900
Denver, CO 80237
Phone: 720.200.7000
FAX: 303.694.6866
www.eflassociates.com

Daniel J. Cummings, Senior Vice President and Managing Director
Phone: 720.200.1765
Email: dcummings@eflassociates.com

Lauren McElderry, Research Associate
Phone: 720.200.7021
Email: lmcelderry@eflassociates.com

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