Director, Multi-Strategy Research & Portfolio Development
About The Position
PICTON Investments is seeking a senior investment professional to lead the identification, evaluation, and onboarding of new strategies and external managers into our Alpha Portfolio platform. This is a newly created role reflecting the firm's growth ambitions and the increasing complexity of our multi-strategy infrastructure. The successful candidate will serve as the firm's primary resource for strategy research and portfolio development — assessing new opportunities across the alternative investments landscape, evaluating them within a rigorous multi-dimensional framework, and determining the optimal structure for deployment. This role sits at the intersection of portfolio management, manager due diligence, prime brokerage economics, and operational implementation. This is a senior, high-impact role requiring a practitioner with direct experience in hedge fund operations. It is not an entry-level or purely analytical position.
Requirements
- 5-7+ years of experience in the alternative investments industry, with direct exposure to hedge fund strategies, multi-strategy platforms, or alternatives manager research.
- Deep understanding of a broad range of hedge fund strategies, including equity long/short, credit, arbitrage, and alternative/niche strategies.
- Demonstrated ability to evaluate strategies on a net, risk-adjusted basis, incorporating fee structures, financing costs, and structural considerations.
- Strong working knowledge of prime brokerage relationships, cross-margining, and capital efficiency mechanics.
- Experience with both managed account and commingled fund structures, including an understanding of the operational, legal, and risk trade-offs of each.
- Excellent quantitative and analytical skills; ability to build and interpret models assessing risk/return and portfolio contribution.
- Strong written and verbal communication skills; able to present complex investment ideas clearly to senior stakeholders.
- Master's degree in Finance, Economics, Mathematics, or a related field.
- CFA designation or equivalent strongly preferred.
Nice To Haves
- Prior experience at a multi-strategy hedge fund, fund-of-funds, or institutional allocator with direct manager selection responsibility.
- Existing relationships within the Canadian and/or global alternative investment manager community.
- Experience negotiating managed account agreements, side letters, and prime brokerage documentation.
- Familiarity with risk management systems and their limitations in the context of alternative strategy portfolios.
Responsibilities
- Source and evaluate new diversifying strategies such as equities (long/short, market-neutral pods), fixed income and credit, arbitrage, volatility, macro and commodities.
- Apply a structured evaluation framework assessing standalone performance and portfolio impact to existing funds.
- Develop and maintain a pipeline of prospective strategies and managers, with regular reporting to the investment team.
- Conduct comprehensive investment due diligence on external managers, including strategy assessment, track record analysis, portfolio transparency, and risk management evaluation.
- Evaluate potential partnership structures including capacity-sharing arrangements, co-investment, and managed account agreements.
- Maintain ongoing monitoring of onboarded managers against agreed performance, risk, and operational benchmarks.
- Work closely with the operations and prime brokerage teams to evaluate financing costs, cross-margin eligibility, and capital deployment efficiency for prospective strategies.
- Contribute to portfolio-level construction decisions, including allocation sizing, leverage considerations, and capacity management.
- Partner with the Head of Multi-Strategy, portfolio managers, and the risk team to ensure new strategies are consistent with portfolio mandates and risk framework.
- Present strategy recommendations clearly and concisely to the investment committee and senior leadership.
- Coordinate with legal, compliance, and operations teams on manager onboarding, contract negotiation, and regulatory considerations.
Benefits
- Competitive total rewards
- Performance-based bonuses
- Clear path for career growth
- Competitive compensation package commensurate with experience, including base salary, performance bonus, and benefits.
- Corporate fitness reimbursement and discounts
- VersaFi memberships (formerly Women in Capital Markets)
- PICTON Investment Counseling and portfolio management services
- Volunteer and charitable donation matching
- Maternity and parental leave top-up
- Recognition awards
- Semi-annual performance bonuses
- Generous annual vacation entitlement (minimum of 15 days per year)
- Training and development reimbursement
- Extensive health and dental benefits
- Healthcare spending account
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What This Job Offers
Job Type
Full-time
Career Level
Senior
