Location: OaklandFull Time Job ID: 48771 Job Posting
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UC OFFICE OF THE PRESIDENT
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Department Overview The Office of the Chief Investment Officer of the Regents of the University of California (UC Investments) manages over $150 billion of endowment, retirement, and working capital assets under the policies, guidelines, and performance benchmarks established by the UC Board of Regents. Our mission and our fiduciary duty compel us to always act in the best interests of the University of California and to uphold an agile and creative culture of respect and collaboration. The 10 foundational pillars of The UC Investments Way, which are outlined on our website and in our annual reports, underpin all that we do in service of the university and its stakeholders. We are long-term investors and, as such, each of us is a risk manager are mindful of helping to ensure the continued vibrancy of our public research university system and the long-term financial health and wellbeing of our employees and retirees. Diversity, equity, and inclusion are among the core values of the University of California and its investments division. Our broad and inclusive recruitment efforts center on finding the best person for the position.
Position Summary The UC Investments Private Equity Team manages a $14 billion portfolio that is expected to grow significantly over the coming years. The Senior Investment Associate will be responsible for supporting the Private Equity team in the execution of primary and secondary fund commitments, co-investments, and direct investments on a global basis. The role emphasizes overall analysis of fund and company investments for inclusion in the portfolio as well as ongoing monitoring and engagement with our portfolio companies. UC Investments is a small team that believes strongly in collaboration. In addition to supporting the Private Equity team, the Senior Investment Associate will frequently collaborate with colleagues across our private and public markets teams.
70% Investment Management:
Oversee a portfolio of 10-15 general partner relationships, both funds and co-investments, representing $2.5 billion in exposure with accountability for reviewing quarterly reporting, producing bi-annual monitoring reports, attending annual meetings, visiting portfolio companies, and processing waivers/consents.
Analyze and conduct due diligence on primary funds and co-investments, including: leading underwriting efforts, performing quantitative analysis, preparing investment memos, coordinating 3rd party transaction support, and structuring/negotiating of legal documents.
Make recommendations and execute monetization of mature assets in the portfolio through the secondary market as well as preparing hold/sell recommendations for public stock distributions from Private Equity and venture capital funds as necessary.
Build and develop a database of funds and portfolio companies to support comparable analysis and provide market intelligence.
Develop network with peer professionals from the GP, LP and service provider communities.
15% Risk Management:
Analyze and manage risk in the overarching 'Risk Rules' framework at UC Investments, which emphasizes leverage, liquidity, concentration, and worst-case downside risk.
Consult with the Senior Managing Director, Director, and/or Investment Officers on the overall impact of an investment on the risk reward of the entire portfolio.
Monitor capital calls and distributions and contribute to liquidity risk management within the rivate equity portfolio.
15% Other Duties:
Support UC student and faculty engagement initiatives, such as the UC Investment Academy.
Lead projects and assignments, as requested. These projects may include, but are not limited to: providing performance attribution, creating presentation materials, project management and drafting memos and letters.
Provide additional support to other asset classes or senior leadership on an as-needed basis.
Experience Required Qualifications
Min 5 years of relevant work experience.
Skills and Abilities Required Qualifications
Strong quantitative skills that can be applied to generate independent analysis, build financial models, and integrate external quantitative data into internal systems. Review the quantitative work of other team members.
Excellent communication skills including the ability to identify pertinent questions to seek desired information and understanding from internal and external partners, as well as the ability to clearly articulate investment decision processes and results in a timely fashion.
Proficient at prioritizing multiple tasks and planning/managing projects in their entirety while ensuring they are delivered on time.
Ability to apply business/investment judgement when some data points are not provided.
Ability to develop investment forecasts.
Ability to modify decisions based on updated forecasts and changing data points.
Prior professional experience in consulting, corporate development, investment banking, and/or Private Equity.
Prior experience with the evaluation of secondary sales and purchases of Limited Partner interests in Private Equity and Venture Capital funds.
Strong financial modeling skills and fluency in understanding financial statements and LBO models.
Working knowledge of Limited Partner legal agreements and key economic terms that impact investments.
Proficient at relationship management and able to build and utilize extensive personal network of industry contacts.
Education Required Qualifications
Bachelor's degree in related area and / or equivalent experience / training.
Licenses and Certifications Preferred Qualifications
CFA or equivalent professional certification.
This position is eligible for a hybrid work arrangement within the state of California. The selected candidate must reside within the state of California, or be willing to relocate, and will be required to report to work in person in Oakland, CA on a regular schedule.
Job Title Private Equity Investment Analyst 3
Job Code 000242
Salary Grade Grade 43
Payscale: $146,000 - $180,000
Full Salary Range: $100,400 - $207,000
The University of California, Office of the President, is required to provide a reasonable estimate of the compensation range for this role. This range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to experience, skills, knowledge, abilities, education, licensure and certifications, and other business and organizational needs. It is not typical for an individual to be offered a salary at or near the top of the range for a position. Salary offers are determined based on final candidate qualifications and experience. The full salary range shows the growth potential for this position and the pay scale is the budgeted salary or hourly range that the University reasonably expects to pay for this position.
HOW TO APPLY
Please be prepared to attach a cover letter and resume with your application.
APPLICATION REVIEW DATE
The first review date for this job is March 27, 20223. The position will be open until filled.
Smoke Free Work Environment: The University of California, Office of the President, is smoke & tobacco-free as of January 1, 2014. UC Smoke & Tobacco Free Policy
August 2021 Update: The University of California has issued a policy requiring employees to be fully vaccinated against COVID -19 before physically accessing the University location or programs. Upon hire into a UCOP position, you will be provided detailed instructions on how to comply with this policy including access to the COVID vaccination at no cost. New hires to UCOP who work onsite or will come onsite for any activities at a UCOP or other UC location must comply with this policy within 8 weeks after their start date. The policy allows for employees to request approval for an exception or deferral. UC COVID-19 Vaccine Policy
The University of California, Office of the President, is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, age or protected veteran status. EEO/AA Employer UC Nondiscrimination Policy
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About University of California Office of the President
The Office of the President is the systemwide headquarters of the University of California, managing its fiscal and business operations and supporting the academic and research missions across its campuses, labs and medical centers.