SFERS seeks an experienced investment professional for the position of Senior Portfolio Manager (“SPM”) for its private equity portfolio, which includes buyouts, venture capital, growth capital and special situations investments. Reporting directly to the Director, Private Equity, Managing Director, Private Markets and the CIO, the SPM and the Private Equity team are responsible for the oversight and management of SFERS’ large and growing private equity portfolio. The SPM will have primary responsibility for SFERS’ buyout partnerships and will have the opportunity to help construct and manage a global private equity portfolio through the sourcing, underwriting, execution and active management of global investment partnerships and direct investments.
Source and conduct due diligence on external investment managers and direct investment opportunities to help construct an investment portfolio in accordance with SFERS’ Private Equity strategy and risk-adjusted return objectives for the asset class.
Evaluate investment opportunities, including meeting with investment managers to assess their qualifications and track records, conducting reference checks, and identifying any significant issues to be addressed during the course of due diligence.
Prepare and present detailed investment recommendations (both written and oral) to the Director, Managing Director, CIO and Retirement Board for review and approval.
Review, evaluate and negotiate key partnership terms and legal agreements.
Monitor existing Private Equity portfolio, including frequent, direct interaction with SFERS’ investment managers globally.
Conduct comprehensive review of the existing investment portfolio and provide recommendations for improvement/optimization.
Review and provide recommendations for SFERS’ Private Equity strategies, including the review of appropriate asset class goals and objectives, asset allocation, cash flow forecasting, and investment pacing.
Work closely with the Managing Director, Director, and the Private Markets team to prepare and execute Strategic Plan that includes the long-term vision, goals and recommended target sub-strategies and markets for the Private Equity portfolio.
Work closely with SFERS’ Private Equity consultant(s) to achieve asset class goals and manage portfolio in accordance with the Strategic Plan.
Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field.
Six years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.
Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst (CFA) designation, may be substituted for an undergraduate degree in a different field than described above.
Three years of investment management experience at the Senior Portfolio Manager level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility with a firm of any size, may substituted for an undergraduate degree in a different field than described above.
Meaningful active relationships with leading private equity investment managers.
Broad and extensive private markets investment experience.
Direct investment experience in private equity investments.
Experience and skill in understanding and evaluating sophisticated investment strategies and concepts, as well as global private equity trends and developments.
Experience in reviewing, evaluating and negotiating complex partnership and contractual agreements.
Ability to work independently as well as in a collaborative, team-oriented environment.
Excellent written, oral and interpersonal communication skills, strong attention to detail.
Proven ability to build networks and positive working relationships with key internal and external contacts.
Excellent judgment, integrity and personal values.
Willingness to travel globally up to 20-25% of time.
Demonstrated proficiency with Microsoft Excel.
Possession of a Master’s degree in business administration, finance or economics and/or a Chartered Financial Analyst (CFA) designation.
Established in 1922, the San Francisco Employees’ Retirement System (“SFERS”) is dedicated to securing, protecting and prudently investing pension trust (the “Trust”) assets and administering a defined benefit pension fund for eligible members of the City and County of San Francisco (the “City”), San Francisco Unified School District, City College of San Francisco, and the Superior Court for the C...ounty of San Francisco. SFERS’ Retirement Board (the “Retirement Board”) and investment team oversee the management of roughly $20 billion in Trust assets in global public equities, fixed income and alternative investments.
The San Francisco Employees’ Retirement System is dedicated to securing, protecting and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco.