Sr. Portfolio Manager III, Private Markets
Job Location:
Baltimore, MD - USA
Yearly Salary:
Posted:
Application Deadline:
Vacancies:
Job Summary
The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (System). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. Its composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430000 participants (customers) including 192000 members who are actively employed and participating in the System 165000 payees who receive a monthly payment from the System and 40000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.
Located in Baltimores Central Business District SRPS offers a purpose-driven workplace with modern amenities including panoramic city and harbor views renovated common areas upgraded elevators and an on-site café.
Employees enjoy comprehensive state benefits including medical dental prescription coverage generous paid leave participation in the state pension system and supplemental retirement savings options (401(k) 457(b) and more). Additional perks include an on-site fitness center with showers and lockers 24/7 building security and easy access to restaurants shops public transit and major highways.
This position and serves at the pleasure of the Appointing Authority.
- Lead all phases of the investment process for emerging private market managers including sourcing evaluation due diligence recommendation execution and ongoing monitoring.
- Construct and manage a diversified emerging manager portfolio using a total portfolio perspective.
- Serve as the primary relationship manager for multiple private market general partners and strategic program partners.
- Partner closely with investment professionals across all asset classes to identify opportunities that strengthen the overall portfolio.
Investment Sourcing Due Diligence & Monitoring
- Lead all phases of the investment process for emerging private market managers including sourcing evaluation due diligence recommendation execution and ongoing monitoring.
- Actively sources investment ideas and makes recommendations.
- Make recommendations to hire and fire investment managers.
- Evaluate investment opportunities across private equity private credit real estate and infrastructure.
- Source evaluate and recommend direct co-investment opportunities alongside existing and prospective investment partners.
- Perform detailed financial and operational due diligence on investment managers and underlying portfolio companies across multiple industries sectors and geographies.
- Prepare comprehensive investment recommendations and present to investment staff and CIO.
- Responsible for achieving excess return over an approved weighted benchmark.
- Determines whether prospective managers exhibit appropriate style & characteristics vs. existing exposures.
- Uses data based quantitative analysis to support investment ideas and recommendations
- Sets return and risk objectives for each manager and monitors performance to those targets.
- Conducts detailed performance attribution to explain the sources of risk and return
- Works collaboratively with Risk function to map EDGE private market exposures to common risk factor exposures and to establish pacing of investments for total fund liquidity management.
Portfolio Management
- Construct and manage a diversified emerging manager portfolio using a total portfolio perspective.
- Develop portfolio allocation recommendations and monitor exposures to ensure appropriate diversification and risk management.
- Directly responsible for recommending allocations on both the manager level and sub-asset class level based on perceived opportunities and existing exposures.
- Manage portfolio pacing commitment schedules and capital deployment consistent with long-term strategic objectives.
- Continuously monitor investment performance and identify opportunities to optimize portfolio construction.
- Collaborate with the Risk Management team to map risks to a common set of risk factors for a true competition of capital.
- Assess material risks stemming from climate change mismanagement of human capital noncompliance with labor laws and /or lack of string governance policies and procedures.
Relationship Management
- Serve as the primary relationship manager for multiple private market general partners and strategic program partners.
- Build and maintain an extensive network of investment managers intermediaries consultants and industry participants to identify differentiated investment opportunities.
- Conduct ongoing manager reviews portfolio discussions operational assessments and performance evaluations.
- Participate in meetings with prospective investment managers and conduct comprehensive due diligence on new opportunities.
- Lead negotiations of partnership agreements side letters fee structures and other investment documentation in collaboration with legal counsel and internal stakeholders.
Collaboration & Leadership
- Partner closely with investment professionals to identify opportunities that strengthen the overall portfolio.
- Contribute to the continued growth innovation and strategic direction of the Terra Maria emerging manager program.
- Mentor and support junior investment professionals through coaching knowledge sharing and professional development.
- Foster an inclusive collaborative team environment in which colleagues with different backgrounds perspectives and levels of experience can contribute receive constructive feedback and develop professionally.
- Actively monitors the global economic factors that drive performance in the assigned asset classes.
- Perform strategic analyses and special projects supporting the Investment Divisions broader objectives.
- Participate in and/or attend conferences and emerging manager events.
Governance andCompliance
- Ensure Compliance with the governance and compliance structure as well as all system policies and procedures.
- At all times act as a fiduciary for the system which includes assessing material risks stemming from climate change mismanagement of human capital noncompliance with labor laws and /or lack of string governance policies and procedures.
Education:Four-year degree from an accredited four-year college/University in ahumanities sciences political science or a related field of study including quantitativedisciplines such as Mathematics Statistics Computer Science Data SciencePhysics Engineering Economics or Finance.
Preferred Qualifications:
Candidates with one or more of the followingqualifications are strongly encouraged to apply:
- Chartered Financial Analyst (CFA) Chartered Alternative Investment Analyst (CAIA) Financial Risk Manager (FRM) or similar professional designation.
- Masters degree or other advanced degree in Finance Economics Business Administration Mathematics Statistics Public Administration or a related quantitative discipline.
- Experience evaluating buyout growth equity venture capital private credit infrastructure and real estate investment managers. Experience underwriting direct co-investment opportunities.
- Strong understanding of institutional portfolio construction asset allocation and risk management.
- Demonstrated experience negotiating private investment partnership agreements and fund documentation.
- Outstanding analytical quantitative written and verbal communication skills.
- Advanced proficiency with institutional investment platforms including Bloomberg FactSet eVestment Burgiss and Preqin.
- Expert-level proficiency with Microsoft Excel including financial modeling and automation along with strong skills in Microsoft Word and PowerPoint.
For education obtained outside the U.S. a copy of the equivalentAmerican education as determined by a foreign credential evaluation servicemust be proved by hire.
Due to the confidential nature of the work selected candidates mustundergo and pass a background and credit check.
Please make sure that you provide sufficient information on your application to show that you meet the minimum selective and preferred qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date.
Successful candidates will be ranked as Best Qualified Better Qualified or Qualified and placed on the employment (eligible) list for at least one year or be placed on a register for at least one year. This list will be used by the hiring agency to select candidates for interviews in-person or virtually.
For education obtained outside the U.S. a copy of the equivalent American education as determined by a foreign credential evaluation service must by provided prior to hire.
The assessment may consist of a rating of your education training and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position
You may be asked to complete a supplemental questionnaire. The supplemental questionnaire may be used as part of the rating process. Therefore it is important that you provide complete and accurate information on your application.
- Hybrid teleworking
- Paid holidays 12-13 per year
- Generous paid leave package (annual sick personal and compensatory leave)
- State Pension (defined benefit plan)
- Tax-deferred supplemental retirement savings plans (401(k) and 457)
- Comprehensive subsidized health dental and prescription plans with little to no deductibles free generic prescriptions and free preventative health services
- Flexible Spending Account plans for Health Care and Daycare
- State Employees Credit Union
To Learn more please click this link:
The online application process is STRONGLY preferred. If you are unable to apply online you may mail a paper application and supplemental questionnaire to:
Maryland State Retirement and Pension Systems
Human Resources Section
120 E. Baltimore Street
Baltimore MD 21202
Email Nick Pindale at
PLEASE DO NOT SUBMIT UNSOLICITED DOCUMENTATION
The resulting certified eligible list for this recruitment may be used for similar positions in this or other State agencies.
As an equal opportunity employer Maryland is committed to recruiting retaining and promoting employees who are reflective of the States diversity.
People with disabilities and bilingual candidates are encouraged to apply.
We thank our Veterans for their service to our country.
TTY Users: call via Maryland Relay
Required Experience:
Manager
