Portfolio Manager - Private Credit

TEXAS MUNICIPAL RETIREMENT SYSTEM•Austin, TX

5d•Onsite

About The Position

As a Portfolio Manager, you will assist in the management of various fixed income and alternative investment portfolios with a primary focus on TMRS’s private credit allocation which represents 13% of the $44 billion Trust Fund. The role includes sourcing investment opportunities, performing due diligence, developing investment recommendations, and negotiating investment transactions in sectors such as direct lending, opportunistic credit, and asset-backed private credit. You will also contribute to teamwide portfolio management discussions, analyze capital markets, and support cross-functional initiatives across the investment department in partnership with senior leadership.

Requirements

Bachelor’s degree in finance, economics, accounting, or related field.
Two or more years of experience in manager selection, fixed income, or credit analysis.
Ability to travel.

Nice To Haves

Certification (CFA, CAIA)
Advanced degree (MBA, Master of Finance, etc.)

Responsibilities

Source and evaluate both fund and individual co-investment opportunities, lead due diligence, and present recommendations for new commitments and terminations.
Manage negotiation, execution, and ongoing monitoring of investment management agreements and limited partnership vehicles.
Monitor and analyze portfolio performance, prepare reports, and clearly communicate findings to leadership.
Contribute to portfolio management discussions, including assessment of risk, returns, and capital markets trends.
Support cross-functional initiatives across the investment department, including policy development, financial reporting, and legislative matters.
Collaborate with internal and external stakeholders to ensure efficient, scalable processes that enhance investment decision-making.