Job Posting

The primary responsibility of this position is to manage the TRS private equity portfolio, targeted at 15% of the System’s $52 billion in assets.  This position will manage existing investments within the program, source and analyze new investment opportunities, and direct a growing private markets co-investment program.

Education Requirements:

A bachelor’s degree in finance, accounting, economics, business administration or related field is required.  A Chartered Financial Analyst (CFA) charter or credible progress toward earning the CFA designation is preferred.

Experience:

Requires a minimum of three years of investment experience, ideally focused within the private equity and/or other alternatives industry.  A strong background in due diligence and sourcing of new private equity investments is recommended.  Experience with performing diligence on direct co-investments or private credit transactions is preferred.

Summary of Duties and Responsibilities:

This position will research, evaluate and recommend additional direct and fund investments within the private capital markets, working with senior management and external consultants as necessary to achieve the System’s goals. Candidate will represent TRS within the investment community, on advisory boards and in networking with other investors and partnership groups. Candidate will also assist the private equity team to mine existing relationships for commitments with private capital managers.

Knowledge/Skills/Abilities:

This position requires comprehensive knowledge of investment practices, extensive analytical and mathematical skills, and the ability to communicate clearly and effectively in oral and written format.  Given the complexity of the System’s private capital investment programs, the candidate must have superior organizational skills and possess the ability to manage multiple projects concurrently.

Selection Criteria                                                 

ANALYTICAL SKILLS

Analyzes information and reviews problems thoroughly; determines the nature and relationship of situations.

COMMUNICATION SKILLS

Speaks effectively in public situations, to small groups, or one-on-one.  Composes memorandums, letters, reports and specified documents in a clear, concise, and well-structured manner.

INTERPERSONAL SKILLS

The ability to interact with different people in diverse work situations in a manner that is supportive and persuasive, that does not confuse nor intimidate; and, cope with, adjust to and be productive in an environment characterized by change and shifting priorities.

JOB KNOWLEDGE AND EXPERIENCE

Has completed specified amount of time previously performing essential duties of the job and/or has completed specified degrees, coursework, or training programs to perform the job.  Possesses a body of information or level of understanding necessary to complete assigned responsibilities.

LEADERSHIP SKILLS

Communicates ideas to justify position, persuades and convinces others, makes constructive suggestions towards improving existing procedures.

ORGANIZATIONAL SKILLS

Organizes work tasks in an efficient manner; able to complete assignments on time by prioritizing tasks and monitoring their completion.

PROBLEM SOLVING SKILLS

Defines a problem and several solutions (if necessary); and implements the solution that resolves the problem in the most effective and timely manner.

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Job Description

Purpose:

Under the direction of senior Investment staff, the Investment Officer – Private Equity  assists in coordinating and monitoring the private equity investments of the Teachers’ Retirement System.

Nature and Scope:

This position requires a thorough knowledge of general investment theory, with particular emphasis on the private equity asset class. The incumbent must be able to function effectively in stressful situations and possess a high degree of skill in both oral and written communications.  

The incumbent must be able to work independently, conduct thorough analysis and due diligence, and produce quantifiable recommendations supported by this research. Superior organizational skills are critical.

The greatest challenge of this position is twofold:  (1) function strategically to anticipate  long-term trends and investment opportunities within the private equity asset class; and (2) perform the essential analytical tasks to produce retrospective conclusions and reports that document the current market trends and performance of managers and investments.

Principal Accountabilities:

1. Research the investment performance and portfolio characteristics of existing and prospective investment management relationships and asset class structures. 
2. Evaluate performance and portfolio characteristics to assure compliance with the   directives of the trustees regarding investment objectives and constraints.
3. Assist senior Investment staff in preparing analyses, evaluations, and proposals for investments in new potential investment managers and structures.
4. Evaluate the qualifications of prospective investment management relationships in accordance with investment policy, asset allocation directives and mix, diversification strategies and guidelines controlling risk/return characteristics for the private equity portfolio.
5. Prepare statistical and narrative reports regarding the investment portfolios within the private equity asset class, market factors, alternative investment prospects, and investment industry practices.
6. Proactively research investment approaches, asset mixes, and portfolio management techniques to provide for potential incremental return to TRS’s individual assets and at the total fund level.
7. Interact at the highest level with outside managers in direct management of the relationship to help facilitate co-investments.
8. Represent TRS on partnership advisory panels and at industry conferences.
9. Manage internal review of documentation and provide logistical leadership for the relevant oversight committee within the private equity department.
10. Assist the investment officers in the emerging managers group, as necessary, in preparing analyses, due diligence, evaluations and proposals for administering emerging manager investment activity.
11. Serve as TRS’s representative on industry-related advisory committees.
12. Assist with developing the skillsets of investment analysts in the private equity asset class.
13. Perform other duties as assigned or required.