We are proud to partner with our client, the Los Angeles County Employees Retirement Association (LACERA) in seeking a Senior Investment Officer-Real Estate. LACERA is headquartered in Pasadena, CA. LACERA has been proudly fulfilling its mission to produce, protect, and provide the promised benefits, both retirement and retiree health coverage, of Los Angeles County employees and retirees for nearly 85 years. LACERA serves approximately 188,000 members which includes over 70,000 benefit recipients. LACERA is the largest county retirement system in the United States with approximately $75 billion in assets under management and more than $2.5 billion in Other Post Employment Benefit Trust (OPEB) funds.
LACERA is seeking energetic, highly-qualified candidates for this newly staffed role, Senior Investment Officer – Real Estate position within its Investment Division. The successful candidate will play a leading role in shaping LACERA’s $5-8 Billion real estate allocation and leading a team through an evolution of the portfolio structure and investment process. The position reports to the Principal Investment Officer for Real Assets and oversees a six-person dedicated real estate team.
To learn more about the Responsibilities, Qualifications and Benefits please view the link below:
DESIRABLE QUALIFICATIONS • Demonstrated experience in developing and implementing investment policies (e.g., Investment Policy Statement), procedures, asset category investment structures, and guidelines (e.g., Investment Program Guidelines) related to real estate investments in separate accounts and private fund vehicles in the achievement of broader portfolio strategic asset allocation objectives. • Demonstrated experience in a leadership role in an institutional investment portfolio management position for a real estate portfolio achieving superior returns relative to a relevant market benchmark within risk expectations and having a material role in recommending investment decisions, selecting investments, funds, or managers or making redemptions or asset dispositions. • Demonstrated experience executing co-investments in real estate. • Demonstrated experience in researching, evaluating, and monitoring existing public and private real estate investments at an in-depth level across a broad number of investments. Proficiency in analyzing data, using investment performance and risk analytics systems that include real estate, developing an in-depth understanding of sources of relative performance and risks and synthesizing and summarizing historical performance results, and working with service providers such as custody banks, administrators, and investment consultants. • Demonstrated knowledge of real estate investment strategies and markets gained by investment industry experience being directly involved at a senior level in the investment decision-making process and management of an institutional portfolio. • Demonstrated experience in researching, evaluating, participating in the due diligence of, negotiating terms for, and establishing guidelines for external real estate mangers at an in-depth level across a broad number of potential investment strategies considered. Experience working with legal counsel on real estate investments. • CFA, CAIA, or other professional designation (or progress towards) is highly desired.
PERSONAL CHARACTERISTICS • Proven ability to take initiative and work independently. • An innovator; open to new ideas and fresh approaches. • Empathetic, with strong emotional intelligence. • Collaborative and inclusive; cultivates and values diversity of thought; motivates and leverages team members strengths; fosters trust and open communication. • A thoughtful decision-maker who values both people and process. • Integrity; impartial, will do what’s right for LACERA, its employees and members.
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