Associate Portfolio Manager – Private Real Estate Debt (General Account)

Principal Financial Group-posted 1 day ago
$141,000 - $191,000/Yr
Full-time • Mid Level
Onsite • Des Moines, IA
5,001-10,000 employees
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We are seeking an Associate Portfolio Manager to join our Private Real Estate Debt team, with a primary focus on managing and supporting the General Account portfolio. In this role, you will partner closely with senior Portfolio Managers to help develop and execute portfolio strategy, evaluate risk and return across investments, and support the ongoing management of real estate debt portfolios. About Principal Asset Management Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $579.8 billion in assets including $102.2 billion in real estate assets, and recognized as a “Best Places to Work in Money Management” for 13 consecutive years. Through its real estate platform, Principal Asset Management is recognized as a top-10 global real estate manager, with decades of experience across the full spectrum of commercial real estate—spanning public and private equity as well as public and private debt.

  • Support a Sr Portfolio Manager in the development and execution of portfolio strategy and tactical plans aligned with client and General Account risk/return objectives, including product type, geography, leverage, and tax considerations.
  • Manage smaller or less complex portfolios independently and provide analytical and strategic support on larger or more complex portfolios and funds.
  • Monitor portfolio performance and risk metrics; conduct sensitivity, variance, and scenario analyses; and recommend adjustments to holdings as appropriate.
  • Assist with investment valuation activities, partnering with internal and external valuation resources to ensure consistency with firm and client policies.
  • Evaluate and provide recommendations on prospective real estate debt investments, including acquisitions, dispositions, developments, and loan investments, in collaboration with asset management, underwriting, acquisitions, appraisal, and servicing teams.
  • Support the preparation, review, and quality control of portfolio reporting for internal stakeholders, clients, and regulatory requirements.
  • Assist in implementing and monitoring risk management controls across assigned portfolios.
  • Proactively build and maintain relationships with internal partners, external clients, and consultants; contribute to client presentations, marketing efforts, and new business initiatives.
  • Provide guidance, training, and quality oversight to portfolio analysts and less experienced portfolio management staff.
  • Participate in special projects and broader team initiatives as needed.
  • Bachelor’s degree in Finance, Business, Real Estate, or a related field; MBA preferred.
  • 8+ years of analytical commercial real estate or portfolio management experience in real estate.
  • Strong preference for experience in real estate debt or commercial real estate underwriting.
  • Advanced financial modeling skills required: experience with macros is a plus.
  • Demonstrated understanding of economics, investment theory, and their application to portfolio construction and risk management.
  • Strong analytical, organizational, and communication skills, with the ability to synthesize complex information clearly.
  • Proven ability to operate effectively in a deadline-driven, multi-priority environment.
  • Risk-adjusted return mindset with strong quantitative and decision-making capabilities.
  • Ability to build and maintain effective relationships with clients, consultants, and internal stakeholders.
  • Willingness to travel as required.
  • This position may be subject to SEC restrictions on personal political contributions.
  • Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
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