Sr. Associate I, Investments- Alternative Investments

Enstar Group•New York, NY

21d•Remote

About The Position

The Investments Senior Associate partners with the Head of Alternatives and Non-Core Specialty Mandates and the Alternative Investments team to support portfolio oversight, forecasting, reporting, and manager evaluation across the Alternatives and Non-Core portfolios. Enstar has 30+ managers across Alternatives (Private Equity, Private Credit, Real Estate, Infrastructure, Hedge Funds) and Non-Core (High Yield, Public Equity, CLO Equity) asset classes. These are targeted to represent 30% of approximately $20B in total investable assets and are expected to contribute a significant portion of projected investment return; the remainder is managed by core fixed income managers (outside the scope of this role).

Requirements

4-6 years minimum experience in an institutional investment role focused on sourcing, due diligence, and monitoring external managers, with emphasis on the alternative strategies noted above.
Demonstrated proficiency in screening and conducting due diligence on alternative investment funds.
Prior experience in tracking, monitoring, and reporting on a sub-portfolio or sub-strategy within a broader investment program.
Deep understanding of investment management, asset allocation (strategic and tactical), and capital markets.
Bachelor’s degree required
Applicable experience and understanding of non-core asset classes, including: public equity, private equity, real estate, hedge funds, infrastructure, CLO equity, high yield, bank loans, emerging market debt, and other alternative investments.
Deep understanding of statistical concepts, methods, and models, and their application to investments.
Knowledge of performance measurement and attribution, and benchmark construction required
Proficient with calculating alternatives performance measures, and metrics such as TVPI, DPI, IRR, TWR, Unfunded, Exposure etc.
Proficiency in financial statement analysis, asset and portfolio NAV, Cash-flow, Gain-Loss forecast modelling, LBO modelling
Excellent quantitative skills required for the asset modelling, performance measurement, portfolio construction and risk measurement processes.
Strong written communication is required for communications with the Investment Committee, Board of Directors, and various internal and external stakeholders.
Ability to prioritize commitments and time management is a significant requirement given the nature of our operations.
Ability to use Excel and PowerPoint is critical, given the requirement to develop investment analytics and proposals.
Strong collaborator with other functional areas and executive management to ensure consistency and efficiency of approach.
Ability to engage in crucial conversations to ensure effective decision making.

Nice To Haves

Experience within an insurance company environment—such as an investment general account, CIO office, or insurance asset manager—is strongly preferred.
Master’s degree preferred.
Progress toward CFA and/or CAIA designations is preferred.

Responsibilities

Monitor existing external managers and underlying investments
Build and maintain asset models and financial plan projections
Support portfolio management, performance analysis, and stakeholder reporting
Execute manager due diligence, including evaluation and recommendation materials
Deliver ad hoc analyses and projects to support investment decision-making
Quarterly Monitoring: Support initial and ongoing relationships with assigned managers; produce quarterly investment updates; and ensure the accuracy of existing ratings
Performance Measurement and Attribution: Analyze and explain absolute and relative performance; attribute results versus budget, assigned benchmarks, and peer groups
Manager Scorecards: Maintain scorecards for funds, strategies, and managers using a combination of qualitative and quantitative analysis
Peer Group Analysis: Deliver peer-group comparisons for existing and prospective managers and strategies
Investment Data Management: Maintain up-to-date mandate, manager, and investment data across internal databases and third-party systems
Asset Modelling: Develop, maintain, and update NAV, cash flow, gain/loss, and return projection models for assigned investments and managers
Plan Development: Support the setup, execution, and ongoing maintenance of Alternatives financial plan projections
Investment Execution Support: Support negotiations for new investments; coordinate with regional investment teams, risk management, investment operations, investment accounting, legal counsel, external vendors, and investment managers
Onboarding and Setup: Onboard new managers and investments in coordination with regional investment teams, legal, investment accounting, investment operations, and IT, as well as external managers and vendors; ensure internal systems and databases are updated with complete and accurate manager and investment data
Compliance: Monitor adherence to internal and external portfolio constraints; escalate and support remediation as needed
Reporting: Prepare quarterly materials for the Group Investment Committee, Board of Directors, and/or CIO
Pipeline Development: Develop market maps for Alternative and Non-Core asset classes; build and maintain an accurate forward fund pipeline for existing and prospective managers; produce peer-group comparison summaries for pipeline managers
Manager Due Diligence: Support RFP development and end-to-end due diligence for current and prospective managers and funds, including investment structure review, tax considerations, insurance regulatory capital requirements across jurisdictions, and reference calls
Investment Recommendation: Draft and/or contribute to investment memoranda and supporting analyses for Investment Committee review
Deliver additional analyses and special projects on an ad hoc basis, as business needs dictate

Benefits

Best-in-class Medical, Dental, and Vision healthcare for single and family coverage.
Board-certified doctors and pediatricians are available virtually 24/7 for urgent care.
Access to Health Savings Account (HSA) or Flexible Spending Account (FSA).
Access to Dependent Care FSA to cover daycare expenses.
Access to Employee Assistance Programs (EAP) for health and well-being.
Optional Pet & Home/Auto Insurance.
Wellness Reimbursement program (up to $600 annual reimbursement for wellness-related expenses, i.e., gym memberships, massage, etc.).
401K retirement plan (company matches up to 6% of employee contribution).
One paid annual volunteer day.
Professional Qualifications and Study Support
Training, Conferences & Seminars
Digital Learning Hub (LinkedIn Learning)