Associate Director, Private Investment Team - 502362

COMPANY DESCRIPTION:

Spider Management Company (“Spider Management” or “Spider”), a wholly owned affiliate of the University of Richmond (“University”), is the investment office for the University and a select group of other endowments and foundations. Through a unique outsourced chief investment officer (OCIO) model, Spider Management has approximately $5.8 billion in assets under management, representing $3.1 billion from the University and $2.7 billion from other non-profits including colleges & universities, independent schools, community foundations, and cultural institutions. Spider Management is a dynamic and fast-paced investment management firm, investing a single portfolio across public equity, hedge funds, absolute return, venture capital, private equity, and real assets strategies.

POSITION SUMMARY:

The Associate Director will be an integral part of the overall Spider Management team and will work toward the success of the portfolio and entire organization. As a member of the Investment Team, the individual will actively contribute to investment decisions across the portfolio. As a key member of the private investment team, this individual will be actively involved across all of the private asset classes (including buyout, growth equity, venture capital, real estate and natural resources). The Associate Director will be involved in asset allocation and manager selection decisions across Spider Management’s private portfolio. The teammate will assist in every aspect of the manager due diligence process – market mapping and idea sourcing, detailed and thorough manager research, portfolio analysis, performance analysis, and manager meetings. The individual will also be actively involved in monitoring existing managers and reporting on the portfolio.

The successful candidate will work closely with all team members, including the Chief Investment Officer, Managing Director of Investments, Director Investments (Head of Private Investments), other members of the Investment Team and members of the Operations and Investor Relations teams. This individual will provide management, mentorship and coaching to the Senior Investment Analyst and Investment Analysts.

RESPONSIBILITIES:

Portfolio Management

• Detailed market mapping to calibrate investment opportunities across the investment spectrum.
• Identify and evaluate new investment opportunities through conducting due diligence meetings with potential managers, performing quantitative analyses, completing reference calls, and preparing written investment memos.
• Cultivate relationships with prospective managers through networking, reference calls, and industry landscaping.
• Maintain a pipeline of actionable investment opportunities, with potentially particular areas of focus, based on the individual’s experience and portfolio priorities.
• Contribute to portfolio management decisions by monitoring the global economic and market environment, while researching potential long-term, thematic investment opportunities across private asset classes.
• Actively lead and contribute to investments across all private asset classes (buyout and growth equity, venture, real estate, and natural resources), with potentially particular areas of focus
• Review key terms within legal documents of prospective investment funds.
• Perform industry research and analysis to help inform portfolio allocation and manager selection decisions.

Monitoring and Reporting

• Monitor performance, portfolio positions, current events, and organizational changes of existing managers and complete analytical reviews of current managers regularly (semi-annually).
• Lead external manager interactions including attending annual meetings, manager due diligence meetings, and conference calls, in partnership with the Director, Investments and other members of the team.
• Work with members of the Private Investments and Operations teams to develop and produce reports to monitor the private portfolio allocation, performance, exposure, and liquidity.
• Work with the Investor Relations, Operations, and Investment teams to prepare quarterly reports, investment committee meeting materials, client presentations and special projects.
• Develop and maintain additional reports to monitor the private portfolio along with current and prospective managers.

Other Responsibilities

• Provide training and mentorship to junior professionals.
• Represent Spider to a range of external stakeholders, including investment managers, the University of Richmond, and external partners.
• Maintain a strong network within the GP and LP investment community, to contribute to both Spider’s portfolio management and brand.
• Contribute to enhancing the team’s overall culture, effectiveness and reputation for professional excellence.
• Other projects as requested.

QUALIFICATIONS:

The successful candidate will have 5-15 years of investment experience, including some experience working at a family office, endowment, foundation, OCIO firm, fund of funds, or similar organization allocating capital to external investment managers or investing directly in the private markets (i.e., buyout, venture, real estate or real assets).

Required Knowledge, Skills & Ability:

• Demonstrated knowledge of financial theory and portfolio analytics
• Experience investing in private markets
• Strong understanding of private markets, including private equity (buyout, growth equity and venture capital) and real assets (real estate and natural resources)
• Strong computer-based financial and valuation modeling skills
• Strong quantitative and analytical skills
• Strong command of financial systems (Bloomberg) and Microsoft Office suite of products (Excel, Word, PowerPoint)
• Analytical thinking and problem-solving skills
• Able to work both independently with minimal direction and collaboratively on a team
• Ability to work on concurrent projects and prioritize accordingly
• Demonstrates initiative
• Strong written and verbal communication skills
• Strong organizational skills and attention to detail
• Ability to meet challenging deadlines while maintaining a high degree of quality and accuracy
• Project management skills

Preferred Knowledge, Skills & Ability:

• Interest and commitment to not-for-profit investment management
• Experience training and mentoring more junior professionals
• Strong communication skills to represent Spider to a range of internal and external stakeholders and investment managers

Exceptional personal qualities including:

• Unquestioned integrity and the highest ethical standards
• Imagination and creativity
• A team orientation and collegial style
• Foresight and pragmatism
• A commitment to a culture of excellence and client service
• Outstanding communication skills and a diplomatic interpersonal manner, confident personal style, and humility

EDUCATION & EXPERIENCE:

• Bachelor’s degree with concentration in Finance/Business Administration, Economics, or in a quantitative discipline
• CFA Charter holder or MBA, preferred
• 5-15 years of relevant work experience in the investment industry (asset management, investment banking, corporate finance, public markets, private equity), preferred

WORK HOURS:

• Full-time, exempt position
• Monday – Friday, 8:30 a.m. - 5:00 p.m.; 7.75 hrs./day; 38.75 hrs./week

ABOUT UR:

At the University of Richmond, we’re creative, inclusive, and determined. We’re Spiders, and our mission is to create positive change in the UR community and beyond. Located minutes from downtown Richmond, Virginia, the University of Richmond (www.richmond.edu) blends the intimacy of a small college with exceptional academic, research, and cultural opportunities usually found only at large institutions. There’s only one place like Richmond.

UR is committed to developing a diverse faculty, staff and student body, and to modeling an inclusive campus community which values the expression of differences in ways that promote excellence in teaching, learning, personal development and institutional success. In keeping with this commitment, our academic community welcomes candidates from diverse backgrounds and candidates who support diversity. EOE