Asset Class Head of Private Equity

City of New York•New York City, NY

About The Position

The New York City Comptroller’s Office works to promote the financial health, integrity, and effectiveness of New York City government, aiming to strengthen trust, secure a thriving future for all New Yorkers, and build a more just, equitable, and resilient city. The Bureau of Asset Management is responsible for oversight of the investment portfolios of the five New York City pension systems, with a goal to achieve exceptional investment outcomes, deliver outstanding support to plan Trustees, and serve as a responsible steward of resources. The Asset Class Head will lead a team of investment professionals who source, evaluate, and recommend Private Equity opportunities alongside the Systems Consultants for consideration by the Systems Trustees. The Asset Class Head is also responsible for the continuous monitoring, performance assessment, and overall oversight of the Private Equity portfolio.

Requirements

Graduate degree from an accredited university in economics, finance, business, or a closely related field, and ten (10) or more years of progressively responsible full-time professional experience in a financial services role with over $25 billion in assets with progressively increasing responsibility, or similar experience at a consulting, strategic advisory or government entity or closely related area, at least eighteen (18) months or more of this experience must have been in a managerial, administrative, or supervisory capacity. Supervision must have included supervising staff performing professional work in the areas described above
OR BA/BS degree from an accredited college and twelve (12) or more years of progressively responsible experience in a financial services organization as described in “1” above, including at least eighteen (18) months of managerial, administrative or supervisory experience as described in “1” above
OR A satisfactory equivalent of education and experience mentioned above

Responsibilities

Manage the Private Equity team of investment professionals whose role is to:
Identify, review and evaluate prospective new and follow-on investment opportunities
Conduct due diligence on investment opportunities and in doing so work with Systems' specialty consultants
Perform technical & quantitative analyses of track records & summarize due diligence findings in recommendation memorandum for internal Investment Committee and Boards of Trustees
Prepare and present investment recommendations to internal Investment Committee and Boards of Trustees
Monitor and manage the portfolio of existing investments
Analyze the performance of existing investments
Conduct financial and technical analyses
Prepare presentations used in the annual implementation and strategic plans
Review legal documents and assist the investment team, legal team, and external consultants in negotiating terms and conditions of new investment agreements and other related contracts
Review and make recommendations on amendment requests, consent notices, and other contract changes
Participate in limited partner advisory committee meetings, annual meetings and quarterly update calls
Write investment update reports, briefing memorandum and meeting summaries
Work with the Retirement Systems Consultant to design and implement the annual Private Equity investment plans for the Retirement Systems
Perform related assignments or special projects as may be required