Special Opportunities Investor

Location:
1900 Aldrich Street
Austin, Texas, 78723
United States
Special Opportunities Investor
Requisition ID:
req1142
Employment Type:
Unclassified Regular Full-Time (URF)
Division:
Special Opportunities Group
Compensation:
Depends on Qualifications
Location:
IMD
Job Closing:
12/23/2024
WHO WE ARE:
With the Investment Management Division (IMD) you will be joining a diverse group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of 1.9 million public education employees and retirees throughout Texas.
Navigating the current market environment takes innovation and we're passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with the best financial minds in the business to manage a global portfolio of over $200 billion in public and private investments. Our success starts with you.
The Special Opportunities Group, Senior Analyst - Sr Associate, performs investment work focused on principal and fund investments. Work involves performing due diligence analysis of potential co-investment and direct opportunities, financial modeling, and monitoring the day-to-day performance of the Special Opportunities portfolio. This position reports to the Managing Director of the Special Opportunities Group.
This vacancy will be filled at one of three levels - Sr Analyst, Associate, or Senior Associate. Selected Applicant will be offered the position that most closely matches their education and experience.
WHAT YOU WILL DO:
Due Diligence and Analysis
• Performs sourcing, due diligence, management, and day-to-day oversight of principal investments and underwritten fund investments to achieve long-term performance targets of 10% within acceptable risk parameters, while also considering funding/liquidity sources.
• Leads deal execution for principal investments by coordinating or participating in due diligence efforts with external investment managers, managing or working with internal teams of Associates and Analysts, and Investment Managers working with members of other TRS investment teams, and facilitating internal procedures relating to the evaluation and closing of principal transactions.
• Performs due diligence of investment opportunities including reviewing company diligence materials, conducting reference checks, running detailed financial models, and developing an independent thesis and investment framework to evaluate merits and risks, valuation, return profiles, terms, and comparable transactions/companies across sectors and geographies.
• Communicates analysis of investment opportunities, results, and recommendations with the relevant portfolio managers(s) and/or senior staff via verbal and written reports and presentations; including preparing qualitative and quantitative reports, memoranda, and spreadsheets.
• Leads evaluation of a manager organization's leadership team, strategy, market opportunity, historical and pro-forma financials, investment history, operations, and competitive environment including conducting reference checks.
• Negotiates or assists in the negotiation of investment management partnerships.
• Documents and organizes the record of the due diligence process.
Portfolio Monitoring
• Monitors and assists with the development of a diverse portfolio of special opportunities investments, which includes recurring reviews and ad-hoc analysis of both portfolio, partner, and company-level performance.
• Monitors selected investments post-closing through observation of publicly available filings, board meetings/calls, and analysis of investment level financial and operational reports.
• Consults with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
• Develops and maintains professional relationships and contacts within the investments industry in order to conduct searches and gain knowledge of appropriate investment opportunities.
• Works as part of a team to implement best operational and risk management practices.
• Works with TRS portfolio management systems such as PowerBI and DealCloud.
• Ensures that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
• Performs related work as assigned.
WHAT YOU WILL BRING:
Required Education
• Bachelor's degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, operations research, math, information technology, liberal arts, or a related area.
• A Master's degree in a related area may substitute for two (2) years of required experience.
Required Experience
• One (1) year of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background. (Senior Analyst)
• Three (3) years of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background. (Associate)
• Five (5) years of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background.(Senior Associate)
Required Registration, Certification, Licensure
• None
Preferred Qualifications
• Master's degree or other advanced qualifications related to finance, accounting, economics, or a related field.
• Experience supporting underwriting direct and/or co-investment transactions in a risk-taking position (e.g. as a buy-side institutional investor) across multiple asset classes and sectors.
• Experience supporting transaction execution and managing due diligence efforts of deal teams.
• Experience working with external partners, boards of directors and/or senior management teams (CEO, CFO) of companies to evaluate operational, financial, and strategic decisions.
• Certification as a Chartered Financial Analyst (CFA), Chartered Alternative Investments Analyst (CAIA), or progress toward obtaining such certification.
Knowledge of:
• Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
• Institutional portfolio management.
• Corporate valuation metrics and techniques including relative valuation methodologies.
• Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
• Process for completing diligence on a variety of transaction types or skills in one of the following: public equity, high yield and leveraged loans, structured credit, buyouts, and distressed/event driven situations.
Skills in:
• Financial modeling and valuation analysis.
• Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing work with a high degree of accuracy.
• Verbal and written communication of complex information that is accurate, timely, and based on sound judgment.
• Making presentations to groups with varied levels of investment knowledge.
• Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.
Ability to:
• Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
• Work effectively in a professional team environment.
Military Occupational Specialty (MOS) Codes:
Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty ( ) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition at with questions or for additional information.
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