Investment Officer – Private Equity
Investment Officer - Private Equity
University of California Office of the President
Requisition Number: 20180010
Appointment Type: Staff - Career
Personnel Program: MSP
Work Hours: Monday - Friday, 8:00-5:00
Percentage of Time: 100
Organizational Area: Office of the Chief Investment Officer
Location: Oakland, CA
Posting Salary: Salary commensurate with experience.
The Office of the Chief Investment Officer is responsible for managing the University of California's retirement, endowment, working capital, and cash assets under the policies, guidelines, and performance benchmarks established by the Regents. The mission of the Office is to implement those policies and guidelines by selecting, executing, and monitoring investment strategies designed to add value over the benchmarks within a risk-controlled framework.
The Office adheres to high ethical as well as professional standards in serving the investment management needs of its constituency and the Chief Investment Officer has full investment discretion.
The leadership of the Office of the Chief Investment Officer (UC Investments) is responsible for the oversight and management of various asset classes by creating and monitoring relationships with new and existing managers, evaluating and selecting new external managers, and creating risk and investment guidelines for external managers. The Investment Officer plays an important role in the implementation of the tasks associated with the goals, responsibilities, and successful outcomes for the office. As a member of a specific asset class group, the Investment Officer will assist in the selection, evaluation and ongoing assessment of external managers in a subset of the Private Equity portfolio. The Investment Officer will independently monitor and report on industry trends, and work with the Office of the CIO Risk Management group to minimize investment risks.
In consultation with the Director, the Investment Officer will assist in the recommendation of fund managers, secondaries, co-investments, direct investments, and special situations. This includes assisting in the selection, evaluation, and ongoing assessment of these investments. The Investment Officer will be assigned a portfolio of funds including but not limited to venture capital, buyouts, secondaries and co-investments to monitor. The Investment Officer will also perform related research, work with the private equity group to achieve the best risk adjusted returns, and prepare and oversee the preparation of reports and presentations.
UC Investments is a small team that believes strongly in collaboration. In addition to supporting the Private Equity team, the Investment Officer will also collaborate with colleagues across our Private Markets teams (e.g. Absolute Return, Real Assets, and Real Estate).
Special Conditions of Employment:
Travel outside of normal business hours
Other Special Conditions of Employment:
Successful completion of a background check is required for appointment to this critical position.
Job Close Date:
Duty 20: - Lead due diligence on prospective investments from beginning to end. This includes assessing the investment strategy, management team, investment risks, portfolio valuations, reference calls, etc. This position is expected to deliver high quality finished work product in a timely fashion. The Investment Officer is expected to be able to provide fundamental analysis and research as part of the due diligence and will clearly articulate findings and recommendation with Managing Director in a collaborative fashion.
- Independently source and lead co-investment opportunities while managing a co-investment deal team. Co-investments will be a critical component of this role. Strongly prefer direct transactional expertise on Mergers and Acquisitions.
- Write clear and concise independent investment recommendations based on due diligence.
- Take lead role in legal negotiations and fund/co-investment closings to ensure the Regent's policies are adhered to in the process of negotiating legal documents.
- Be a key contributor to the Private Equity team discussions on merits and risks of an investment. In addition, bring investment ideas and or opportunities to the private equity team for discussion and review. The Investment Officer is expected to have meaningful comments on investment opportunities and demonstrate sound investment decision making skills.
- Maintain active involvement with assigned private equity relationships. This includes attending annual meetings, having at least one touch point each quarter with each Manager, written documentation of annual meetings, reviewing quarterly financial statements and understanding any significant valuation changes or policy changes. Attend additional annual meetings on behalf of the Private Equity team as needed. Be able to speak in depth about each assigned relationship and investment.
- Represent the University of California on Advisory Boards. Be able to provide comprehensive industry feedback to the General Partners as necessary and provide sound guidance to General Partners. Lead restructuring of a Fund if necessary by collaborating with fellow Advisory Board members and the General Partner.
- Contribute to hold/sell recommendation for public stock distributions from private equity funds as necessary. Conduct appropriate research and analysis to support recommendation.
- Prepare and maintain standardized investment reports on fund managers in the portfolios, as well as those under consideration, and make recommendations for decision-making purposes.
Function:POLICY, ANALYSIS AND REPORTING
Duty 30: - Conduct independent fundamental research and analysis in the due diligence process to identify and monitor the performance of fund managers and co-investments.
- Monitor fundamental research and identify industry trends and market intelligence and communicate the findings of such insights to the Private Markets teams.
- Lead due diligence within the research process on investments under consideration and provide guidance to Analysts on their due diligence efforts.
- Conduct research and analysis within the due diligence process to identify, evaluate, negotiate, and monitor the performance of the asset class.
- Lead the Limited Partnership Agreement review and ensure all aspects of closing a fund are being met from a relationship and business point of view.
Duty 40: - Utilize problem-solving skills to analyze investments on a risk adjusted basis.
- Assess risk factors associated with assigned investment opportunities.
- Be able to have a dialogue with the Managing Director or Chief Investment Officer on the overall impact of an investment on the risk reward of the entire portfolio.
Duty 50: - Provide research and analytical support as needed.
- Lead projects and assignments, as requested. These projects may include but are not limited to providing performance attribution, creating presentation materials, project management and drafting memos and letters.
Function:OTHER DUTIES AS ASSIGNED
MBA/CFA or a specialized professional designation and more than 7 years' experience within a specific asset class or an equivalent combination of education and experience. Excellent oral and written communication skills are required.
- Ability to generate both qualitative and quantitative independent analysis.
- Plan and manage projects in their entirety and ensure they are delivered on time.
- Having the ability to know the right questions to ask both internally and externally to seek desired information or understanding.
- Ability to clearly articulate investment decision process and results to the Director and Chief Investment Officer in a timely fashion.
- Ability to prioritize multiple tasks with little to no guidance.
- Use good judgment when to seek advice or help from the Director or Chief Investment Officer.
- Demonstrate sound investment judgment.
- Ability to make investment decision with incomplete information.
- Ability to develop investment forecasts and modify decisions based on updated forecasts and changing data points.
- Ability to independently source, review and recommend investment opportunities with a sound investment decision making process, but not accountable for full scope of activity in asset class or final investment decision independently.
- Demonstrate original thinking.
- Demonstrate proficiency at relationship management and the ability to build and utilize extensive personal network of industry contacts.
- Provide guidance and supervision to other team members.
- Work in a collaborative and consultative environment despite skills that would allow for independent decision making. Ability to know when to act independently on decisions and when to share and seek feedback as a team.
- Strong quantitative skills that can be applied to developing original models as well as reviewing the quantitative work of other team members.
-Knowledge about the University's investment policies and processes; asset allocation guidelines and benchmarks.
How to Apply
For complete job description and application instructions, visit: http://apptrkr.com/1376985
The University of California, one of the largest and most acclaimed institutions of higher learning in the world, is dedicated to excellence in teaching, research and public service. The University of California Office of the President is the corporate headquarters to the ten campuses, five medical centers and three Department of Energy National Labs and enrolls premier students from California, the nation and the world.
The University of California is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, age or protected veteran status.
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