Private Equity Investment Associate

Partner's Capital•San Francisco, CA

2d•Hybrid

About The Position

The Investment Associate located in San Francisco will be a key contributor to our 25-person Private Equity and Real Estate team. As a sophisticated global investment firm with nearly 25 years of private markets experience, we seek new team members who are dynamic and comfortable working in a fast-paced entrepreneurial environment. The Partners Capital Research team is the engine for identifying and underwriting attractive investment opportunities for inclusion in client portfolios, as well as the deployment of our discretionary investment vehicles. Within our broader Research team, the Private Equity and Real Estate team manages the Firm’s investment program and external manager relationships across buyouts, growth equity, venture capital, and real estate and infrastructure. The primary goal of the Private Equity and Real Estate research team is to deliver high absolute returns over the long-term by partnering with top-tier managers. The team also supports the growth of the business through innovation, creativity and continuous improvement of our investment program in the face of a competitive and rapidly changing market environment. Your role will provide exposure across the private markets team on a pro rata basis, with an estimated allocation of 50–70% buyout, 15–30% venture, and 10–20% real estate and other strategies.You will be involved across both investment diligence and portfolio management activities, with responsibilities spanning multiple private markets strategies.

Requirements

Undergraduate degree with a strong track record of academic achievement.
Two to four years of prior work experience in a professional services role (e.g., private equity LP investing, private equity direct investing, investment banking, management consulting, or corporate strategy).
Experience in private equity investing with buyout and growth equity experience required.
Proficiency in Microsoft Office (Excel, PowerPoint, Word, Outlook).
Aptitude for rigorous qualitative and quantitative analysis delivered via an answer-first communication style.
Excellent problem-solving and interpersonal skills.
Strong work ethic, good attention to detail, and ability to multi-task.
Team player attitude with a desire to work on a wide range of projects.
High intellectual curiosity and willingness to contribute to the overall success of the business.

Nice To Haves

Chartered Financial Analyst (CFA)
Chartered Alternative Investment Analyst (CAIA)

Responsibilities

Support rigorous and comprehensive due diligence of private equity, venture capital, growth equity, and real estate primary fund investments. This role will primarily focus on buyout and growth equity investing, with additional exposure to venture capital and real estate consistent with the team’s pro rata allocation across strategies.
Stress-test the manager’s assumptions and develop an independent view of the merits of the investment, particularly in the context of the manager’s mandate, skill and experience.
Diligence activities include meetings with managers, quantitative analysis of portfolios and performance, qualitative assessments of team, investment process and research quality, and external referencing and triangulation.
The diligence process concludes with a detailed written investment presentation for discussion among the team and with the Internal Investment Committee.
Lead and support research and analysis on investment opportunities, industry trends, and market dynamics across the private equity asset class.
Contribute to investment theme ideation and creation of firm intellectual property.
Create materials for internal investment committee consideration. Internal documentation includes transaction information, company/opportunity financial analyses, due diligence findings, and investment recommendation.
External documentation includes redacted summary investment materials for clients.
Support ongoing diligence and monitoring of investment managers and opportunities, including formal quarterly and annual reporting processes.
Manage the compilation of quarterly and annual reporting, monitor activity from our managers (new investments, key performance drivers, exit announcements, important manager news), ensure our potential fund investment pipeline is up to date, analyze key portfolio metrics (e.g., EBITDA growth and leverage levels for our buyout portfolio, net operating income growth for PE Real Estate), and manage responses to client team requests and legal document amendments.
Attend Annual Meetings for investment managers within coverage responsibilities.
Process management is critical to the success of the team’s investment activities. Core responsibilities to include supporting the preparation of materials for our monthly Asset Class Team-Client CIO meeting, investment database support, and marketing support.
This role will involve participation in or leadership of special projects relating to investment process and strategy, as well as preparation of summary materials for client-facing teams and fundraising activities.
In addition to the above, you will, for variety, take on other activities and projects, which might include researching and improving our portfolio construction knowledge and approach, assisting with business development, or helping to develop our technological capabilities.
Key responsibilities may be assessed and are subject to change from time to time based on the needs of the business.
Responsible for ensuring all information security processes, policies and procedures are adhered to and any issues or concerns are raised with the Cyber Security team
Ensure full compliance with all local data protection regulations and privacy controls, and any related issues are raised via the appropriate channels