Manager, Alternative Investments

Public Sector Pension Investment Board • New York, NY

48d • $185,000 - $225,000 • Hybrid

About The Position

The Manager, Alternative Investments is a member of the IS team, reporting to the Managing Director Alpha Alternatives. The roles of the Manager are the following: Supporting directors in articulating investment strategy by sub-strategy (e.g. in Royalties and Rights: Entertainment IP) through understanding sector dynamics, sizing opportunities, determining risk/return profiles and relative attractiveness, defining where we play and how we play, and executing on the strategy through select partner fund investments and individual deals Developing IS view on sector through close market observation, on-going discussions with sector players and experts, and active participation in sector conferences and events Collaborating with IS partners to determine new/growing sub-strategies or those going through dislocation. Designing entry strategies Maintaining framework of risk/return across sub-strategies for optimal capital allocation and proactive capital recycling Working closely with partners to monitor fund investments as well as screening and executing on select co-investments Leading due diligence efforts on deals, transaction structuring, negotiation of terms, driving internal investment approval processes and actively monitoring investments in the portfolio Interacting with other internal teams as it relates to risk, legal, audit (internal, external), valuations, ESG and external legal counsel Actively contributing across Alpha Alternatives to investment strategy, portfolio and performance review and process/tool improvement Sourcing Liaising with IS partners in generating and maintaining an active pipeline of new investment opportunities Triaging and prioritizing opportunities for rapid assessment, go/no go decisions and partner response Pro-actively developing a professional network of relationships through reach-out to best practice firms and active conference attendance Investment execution Driving investment thesis preparation and communication. Demonstrating thorough, fact-based analysis and rational for base case attractive risk-adjusted returns. Detailing of business scenarios that could drive investment performance and why downside scenario risk is acceptable or how it is mitigated Leading the negotiation of term sheets, commitment letters and agreements. Ensuring key economic/governance terms are aligned with PSP interests and investment thesis Supervising broader PSP team in due diligence and reporting critical information and developments Actively participating in the internal investment review processes and presenting to secure approval from relevant investment committees and ensuring the successful closing of transactions Active monitoring Active dialogue with partners to assess fund portfolio exposure and performance as well as co-investments Coordinating preparation of periodic reports and undertaking various analyses on fund investments, as well as co-investments and direct positions to assess exposure and performance Attending broader PSP meetings as applicable and reporting back to team on topics discussed and key developments

Requirements

• Bachelor of Accounting or Finance or professional designation in accounting/Finance (CA), MBA or CFA
• A minimum of five (5) years of experience in principal investing and/or investment research
• Track record of deal completion and/or project completion
• Intellectually curious and eager to learn, challenge oneself
• Mature, driven and motivated to work in a team investment environment
• Enthusiastic and able to work under pressure
• Proactive and forward thinking, adaptive and flexible
• Strong work ethic and professional integrity
• Aspiring to be best-in-class in field
• Excellent financial, quantitative and analytical skills
• Project management skills – managing projects with tight deadlines and managing multiple projects at same time
• Strong communication and presentation skills – preparing robust investment recommendations, clear presentations, adapting oral communication to audience and time limits
• Ability to build solid working relationships both internally and externally
• English and French (frequent interactions in English with PSP employees based in our offices in Hong Kong, London and New York, and interactions in French with employees in our local offices in Montreal and Ottawa)

Responsibilities

• Supporting directors in articulating investment strategy by sub-strategy (e.g. in Royalties and Rights: Entertainment IP) through understanding sector dynamics, sizing opportunities, determining risk/return profiles and relative attractiveness, defining where we play and how we play, and executing on the strategy through select partner fund investments and individual deals
• Developing IS view on sector through close market observation, on-going discussions with sector players and experts, and active participation in sector conferences and events
• Collaborating with IS partners to determine new/growing sub-strategies or those going through dislocation. Designing entry strategies
• Maintaining framework of risk/return across sub-strategies for optimal capital allocation and proactive capital recycling
• Working closely with partners to monitor fund investments as well as screening and executing on select co-investments
• Leading due diligence efforts on deals, transaction structuring, negotiation of terms, driving internal investment approval processes and actively monitoring investments in the portfolio
• Interacting with other internal teams as it relates to risk, legal, audit (internal, external), valuations, ESG and external legal counsel
• Actively contributing across Alpha Alternatives to investment strategy, portfolio and performance review and process/tool improvement
• Liaising with IS partners in generating and maintaining an active pipeline of new investment opportunities
• Triaging and prioritizing opportunities for rapid assessment, go/no go decisions and partner response
• Pro-actively developing a professional network of relationships through reach-out to best practice firms and active conference attendance
• Driving investment thesis preparation and communication. Demonstrating thorough, fact-based analysis and rational for base case attractive risk-adjusted returns. Detailing of business scenarios that could drive investment performance and why downside scenario risk is acceptable or how it is mitigated
• Leading the negotiation of term sheets, commitment letters and agreements. Ensuring key economic/governance terms are aligned with PSP interests and investment thesis
• Supervising broader PSP team in due diligence and reporting critical information and developments
• Actively participating in the internal investment review processes and presenting to secure approval from relevant investment committees and ensuring the successful closing of transactions
• Active dialogue with partners to assess fund portfolio exposure and performance as well as co-investments
• Coordinating preparation of periodic reports and undertaking various analyses on fund investments, as well as co-investments and direct positions to assess exposure and performance
• Attending broader PSP meetings as applicable and reporting back to team on topics discussed and key developments

Benefits

• Investment in career development
• Comprehensive group insurance plans
• Competitive pension plans
• Unlimited access to virtual healthcare services and wellness programs
• Gender-inclusive paid family leave policy: up to 26 weeks for primary caregivers, 5 weeks for secondary caregivers
• A personalized family-building support, from pre-pregnancy to menopause, with available financial assistance
• Vacation days available on day one with additional days on milestone service anniversaries, and summer Friday afternoons off
• A hybrid work model with a mix of in-office and remote days

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 1,001-5,000 employees