Portfolio Manager - Closed End Fund Series

Core Spaces•Chicago, IL

About The Position

The Portfolio Manager – Closed End Fund Series is a senior investment management leader responsible for the strategy, oversight, and performance of Core Spaces’ closed-end, drawdown investment vehicles. This role owns fund-level portfolio construction, capital deployment strategy, portfolio monitoring, performance attribution, investor reporting, and governance across the full fund lifecycle. The Portfolio Manager serves as a key decision-making partner to Acquisitions, Asset Management, Development, Capital Markets, Finance, and Investor Relations to ensure portfolio activity, business plans, and investor commitments remain aligned. This role requires significant independent judgment, strategic decision-making, and accountability for matters of significance, including portfolio composition, deployment pacing, fund performance, investor communications, and cross-functional execution. The role is expected to operate with a high degree of autonomy and influence within a vertically integrated real estate platform.

Requirements

Bachelor’s degree in Finance, Real Estate, Accounting, Economics, or a related field
10+ years of progressive experience in real estate investment management, private equity real estate, institutional portfolio management, or a closely related environment
Significant experience managing or materially influencing closed-end, drawdown fund strategy, portfolio construction, and performance oversight
Demonstrated success evaluating and communicating portfolio performance through metrics such as IRR, equity multiple, yield, realized and unrealized performance, and performance attribution
Deep understanding of fund structures, governing documents, waterfalls, capital call and distribution mechanics, liquidity planning, and portfolio-level investment guidelines
Strong command of portfolio analytics, financial modeling, business plan evaluation, and strategic capital allocation
Experience working directly with institutional investors and preparing high-quality reporting, diligence materials, and executive presentations
Proven ability to exercise discretion and independent judgment with respect to portfolio strategy, prioritization, and business recommendations

Nice To Haves

Managing closed-end, drawdown real estate funds across the full lifecycle, including portfolio-level decision-making
Operating in a senior role within a private equity real estate or institutional investment platform with exposure to institutional investors
Exercising strong commercial judgment with autonomy, accountability, and discretion on matters of significance
Synthesizing investment, operating, and market data into clear recommendations that influence portfolio strategy and capital allocation
Partnering cross-functionally to challenge assumptions, align stakeholders, and drive execution across the platform
Working within student housing, multifamily, or adjacent sectors with an understanding of operational and development dynamics

Responsibilities

Own fund-level portfolio strategy across closed-end vehicles, including portfolio construction, allocation, diversification, and capital deployment pacing across the lifecycle.
Establish and monitor portfolio frameworks across asset type, geography, risk profile, vintage, and business plan while evaluating concentration, market exposure, liquidity, and risk-return tradeoffs to drive capital allocation decisions aligned with fund objectives and investor mandates.
Partner cross-functionally to prioritize pipeline, assess strategic fit, and align execution with capital availability and portfolio needs.
Provide portfolio-level evaluation of new investments, including diversification impact, return profile, and alignment with fund strategy.
Own fund performance evaluation against underwriting, strategy, and investor expectations.
Oversee portfolio-level analysis of operations, development, lease-up, valuations, liquidity, and disposition timing to identify risks and opportunities.
Partner with Asset Management and Development to assess execution and implement actions to optimize returns.
Lead performance attribution across assets, markets, and strategies to inform decision-making.
Direct capital deployment, including pacing, capital calls, liquidity management, and distribution forecasting.
Monitor performance against fund timelines and proactively address deviations in deployment or returns.
Support lifecycle events such as fundraising, investment periods, recapitalizations, and realizations.
Evaluate portfolio implications of development, financing, and disposition decisions.
Own investor reporting deliverables, ensuring accuracy, insight, and alignment with performance and strategy.
Translate portfolio performance into clear, compelling narratives for investors and leadership.
Partner with Investor Relations on fundraising, diligence, and ongoing engagement.
Prepare materials for investment committees, leadership, and investor communications.
Ensure compliance with fund governing documents, investment guidelines, and approval frameworks.
Oversee integrity of portfolio data and reporting outputs.
Drive improvements in portfolio management, reporting, and governance processes.
Act as a senior leader influencing portfolio strategy, capital deployment, and investor outcomes.
Lead and develop portfolio management team members, ensuring quality and accountability.
Elevate portfolio management practices through analytical rigor and process improvement.
Support the build-out of a scalable, institutional-quality portfolio management function.
Occasional travel may be necessary as needed.
Perform all other duties and tasks as assigned by management.
Must be able to complete all physical requirements of this role with or without a reasonable accommodation.

Benefits

A culture that provides you with a sense of belonging
Competitive pay that values your contributions
Incentives designed to reward your achievements
Paid flexible PTO to disconnect or celebrate life milestones
Paid 14+ holidays, including your birthday, to disconnect and celebrate
Paid Parental Leave that begins after 90 days
Paid volunteer time off to give back to your community
Monthly workshop weeks; fewer meetings & more collaboration
Robust health plan options that begin within at least 30 days of your employment
Monthly phone reimbursement
Wellness allowance and perks, including a yearly subscription to a meditation app
An environment that provides you a voice to share your perspectives
Employee Assistance Program (EAP) for access to confidential support services
Company retirement options including 401(k) + matching & Roth account option