Managing Director, Portfolio Management, Private Equity Real Estate (Residential focused)

Principal Financial Group • Chicago, IL

3d • Hybrid

About The Position

We are seeking a Managing Director, Portfolio Management to join our Retail & Residential team. In this role, you will lead our residential portfolio as well as provide additional support for retail investments, guiding portfolio strategy and execution for one of our more complex institutional real estate portfolios, helping maximize performance while aligning with the objectives of a large institutional pension client. This position blends investment judgment, client leadership, portfolio oversight, and leadership, with meaningful influence on strategy, transactions, and long-term portfolio construction.

Requirements

• Bachelor’s degree in finance, business, or related field; real estate focus strongly preferred.
• 15+ years of commercial real estate experience with deep residential portfolio management expertise, ideally within an institutional environment (allocator, operator, or GP).
• Proven success supporting institutional clients, including pension plans, and serving as a senior client‑facing investment leader.
• Demonstrated ability and track record of structuring, negotiating, and governing joint venture investments with third‑party operators.
• Strong background in residential investment strategy, portfolio construction, and risk management.
• Experience across acquisitions, asset management, and portfolio oversight.

Nice To Haves

• Experience with complementary residential sectors such as senior housing, student housing, or manufactured housing.
• History of influencing portfolio‑level decisions and capital allocation at scale.
• Exceptional communication and presentation skills with institutional investors, consultants, and boards.
• Proven leader with a track record of developing high‑performing investment professionals.

Responsibilities

• Shape and help drive residential portfolio strategy
• Translate strategic direction into executable plans through operating partners and investment structures
• Support development of new investment vehicles and structures designed to deliver strong risk-adjusted returns
• Procure and negotiate agreements with operating partners, joint venture partners, and institutional counterparties
• Serve as a senior client‑facing leader and trusted advisor to institutional investors.
• Represent the firm with operating partners, brokers, and industry participants across the residential sector.
• Maintain deep awareness of residential market trends and translate insights into portfolio actions.
• Oversee a large, complex institutional residential real estate portfolio with a primary focus on multi‑family and manufactured housing investments.
• Direct execution of value‑creation strategies across operating platforms and assets.
• Review and approve investment decisions, capital allocations, and transaction recommendations for underwriting discipline, portfolio fit, and risk alignment.
• Provide leadership on transaction structuring, pricing, and portfolio‑level impacts.
• Represent the institutional client on management, investment, and governance committees.
• Partner with internal and external valuation consultants to execute portfolio valuation policy
• Ensure consistency, analytical rigor, and compliance with regulatory and audit requirements
• Oversee preparation and delivery of clear, decision‑oriented reporting for institutional clients and senior internal stakeholders.
• Mentor and develop investment professionals across the team
• Promote high standards of analysis, accountability, and collaboration
• Contribute to a culture of strong performance and continuous development

Benefits

• 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.
• annual profit share bonus plan

What This Job Offers

• Job Type: Full-time
• Career Level: Executive