Senior Director, Senior Portfolio Manager - Private Equity

ProShares•Bethesda, MD

73d•$220,000 - $240,000•Hybrid

About The Position

We are seeking an experienced Senior Portfolio Manager to join our private equity investment team, with a focus on managing 1940 Act private equity funds. This individual will play a central role in driving investment strategy, portfolio construction, and execution across manager selection, secondaries, and co-investments. The successful candidate will combine strong underwriting expertise with deep operational, structuring, and cash flow management skills to effectively manage the unique semi-liquid nature of our fund products.

Requirements

Bachelor's degree required; advanced degree (MBA, JD, CFA, or CPA) preferred.
10+ years of experience in private equity, secondary investing, co-investments, or portfolio management with exposure to 1940 Act fund structures strongly preferred.
Demonstrated expertise in underwriting across secondaries, manager selection, and co-investments.
Strong financial modeling and valuation skills, including cash flow forecasting for semi-liquid vehicles.
Knowledge of fund structuring, legal, and tax considerations in private markets.
Excellent communication, negotiation, and presentation skills with the ability to interact with senior stakeholders and external partners.
Highly analytical with strong attention to detail.
Strategic thinker with the ability to manage complexity and multi-faceted portfolios.
Team-oriented, collaborative, and adaptable in a fast-paced environment.

Nice To Haves

Experience managing private equity portfolios within the 1940 Act regulatory framework a plus.

Responsibilities

Oversee portfolio construction and ongoing management of 1940 Act private equity funds, ensuring alignment with fund mandates, risk management, and liquidity considerations.
Develop and implement strategies across primary manager commitments, secondary transactions, and co-investments.
Monitor portfolio exposures, performance attribution, and liquidity forecasting.
Lead due diligence and underwriting of private equity investments across: Secondaries - LP-led, GP-led, and structured transactions. Manager Selection - top-tier private equity funds across buyout, growth, and special situations. Co-Investments - direct equity opportunities alongside leading sponsors.
Build and review financial models, valuation analyses, and scenario planning.
Negotiate and structure investment terms in collaboration with legal, tax, and operational partners.
Design and maintain fund-level cash flow models to manage the semi-liquid profile of registered fund vehicles.
Partner with operations and finance teams to forecast capital calls, distributions, and redemptions.
Optimize pacing and deployment strategies to meet investor liquidity needs while maximizing returns.
Collaborate with legal, compliance, and tax teams on fund structuring, investment terms, and regulatory considerations.
Support the design and enhancement of investment vehicles, including operational processes unique to 1940 Act funds.
Present investment opportunities and portfolio updates to internal investment committees.
Partner with distribution, investor relations, and client teams to articulate fund strategy and performance to current and prospective investors.
Build strong relationships with private equity sponsors, secondary advisors, and market participants.

Benefits

Competitive pay and discretionary bonus
Paid time off
Health care benefits (medical, dental & vision)
Additional insurance includes basic life, accidental death and dismemberment, supplemental life, disability and legal benefit
401(k) retirement plan with matching contribution
Spending Accounts (Health Care, Dependent Care, and Transportation)
Wellness Programs (fitness reimbursement, Employee Assistance Program)
Education assistance
Hybrid work schedule
Additional Programs include peer recognition, corporate matching gift