Investment Associate

Clay Cove Capital•Philadelphia, PA

4d•Onsite

About The Position

Clay Cove Capital is a real estate private equity firm that builds niche real estate platforms. We target categories with durable supply/demand dynamics, fragmented ownership, and high barriers to entry where real estate and operations are deeply intertwined. By assembling institutional-quality portfolios in partnership with trusted operators, we capture both real estate income and platform value. Drawing on our decades of real estate investing experience and participation in transactions totaling over $50 billion, we source differentiated opportunities across the U.S. As a member of the team, you will play an important role in the entrepreneurial process of scaling a real estate private equity firm. As Investment Associate, this role will play a central role in analyzing, underwriting, and scaling Clay Cove's real estate and operating-platform investments. Reporting to the Chief Investment Officer, the Associate will work across platform development, investment evaluation, and execution: pressure-testing underwriting, coordinating diligence, and supporting capital deployment as the firm builds institutional-quality real estate and operating platforms. The Investment Associate will work closely with senior investment professionals while also engaging directly with external stakeholders, including operating partners, investors, lenders, brokers, and consultants throughout the investment lifecycle. In this role, the Associate will take increasing ownership over underwriting and diligence workstreams and will provide day-to-day guidance and review of Analyst-level work product, ensuring analytical rigor and consistency with firm standards.

Requirements

Bachelor's degree in Finance, Economics, Accounting, Real Estate, or a related field; MBA or MS in Finance preferred
4+ years of professional experience in an analytical role within real estate private equity, institutional real estate investing, investment banking, private equity, or a closely related investment-oriented environment
Advanced financial modeling, including corporate and real estate valuation, cash flow projections, and scenario and risk-return analysis
Advanced proficiency in Microsoft Excel and the Microsoft Office Suite; experience with CoStar and Green Street preferred
Ability to independently structure analyses, identify key risks, and generate actionable investment insights
Strong time management skills with the ability to deliver high-quality work across multiple concurrent workstreams
Strong written and verbal communication skills
AI fluency, paired with genuine interest in staying current on and implementing emerging analytical tools and technology

Responsibilities

Lead and review financial models for real estate investments at the asset and portfolio level, including cash flow projections, debt structures, cap rate analysis, and sensitivity analysis; refine underwriting assumptions with senior professionals.
Evaluate operating company investments using enterprise valuation, cash flow projections, working capital assessment, and scenario modeling to assess platform-level risk-return profiles.
Conduct in-depth market and industry research across comparable transactions, geographic fundamentals, sector trends, and competitive landscapes; synthesize insights for underwriting and Investment Committee materials.
Help define and refine buy-box criteria and acquisition strategies across target sectors and platforms, translating market research and portfolio priorities into clear sourcing parameters for the internal team and broker network.
Coordinate and execute defined diligence workstreams across financial, commercial, and operational diligence; review financial statements, operating metrics, third-party reports, and key risk factors.
Take increasing ownership of underwriting and diligence workstreams across real estate and operating platform investments.
Prepare and maintain investment memoranda through Clay Cove's multi-stage review process.
Prepare investment presentations, pitch decks, and transaction materials for internal and limited partner review.
Strengthen data aggregation and tracking, and build cumulative intelligence from the underwriting and diligence process, not simply automating individual modeling tasks.
Prioritize the quality and structure of data inputs before layering in AI-assisted intelligence and visualization.