Organizational Area: Office of the Chief Investment Officer
Location: Oakland, CA
Posting Salary: Commensurate with experience
Position Summary: The Office of the Chief Investment Officer of the Regents of the University of California ('UC Investments') manages $120 billion of endowment, retirement, and working capital assets under the policies, guidelines, and performance benchmarks established by the Regents.
The UC Investments Private Equity Team manages a $5 billion portfolio that is forecast to grow significantly over the coming years. In consultation with the Managing Director, Directors, and Investments Officers, the Senior Investment Analyst will assist in the identification, evaluation, and execution of buyout funds, venture capital funds, secondaries, co-investments, direct investments, and special situations investments. The Senior Investment Analyst will also be assigned a portfolio of investments to monitor. In addition, the Senior Investment Analyst will also perform related research and analytical work to support the Private Equity team's active portfolio management and reporting to key stakeholders.
UC Investments is a small team that believes strongly in collaboration. In addition to supporting the Private Equity team, the Senior Investment Analyst will also collaborate broadly with colleagues across our Private Markets (i.e. Absolute Return, Real Assets, and Real Estate) and Public Markets (i.e. Fixed Income and Public Equities) teams.
Special Conditions of Employment: Travel Travel outside of normal business hours
Other Special Conditions of Employment: Successful completion of a background check is required for appointment to this critical position.
Job Close Date:
Duty 1: - Support due diligence on prospective investments from beginning to end including assessing the investment strategy, management team, investment risks, portfolio valuations, reference calls, etc.
- Deliver high quality finished work product in a timely fashion.
- Provide fundamental analysis and research as part of the due diligence and clearly articulate findings to the Private Equity Team in a collaborative fashion.
- Support evaluation of co-investment opportunities with a particular focus on quantitative analysis and industry research.
- Write clear and concise investment analysis and formal recommendations based on due diligence.
- Support legal negotiations and fund/co-investment closings to ensure the Regent's policies are adhered to in the process of negotiating legal documents.
- Be an important contributor to Private Equity team discussions on merits and risks of an investment; propose investment ideas and or opportunities to the private equity team for discussion and review.
- Maintain active involvement with assigned private equity relationships by attending annual meetings prepared to speak in depth about each assigned relationship and investment, quarterly touch points with each Manager, documenting annual meetings, reviewing quarterly financial statements and understanding any significant valuation changes or policy changes. May attend additional meetings on behalf of the Private Equity team, as needed.
- Represent the University of California on Advisory Boards. Provide comprehensive industry feedback and sound guidance to the General Partners, as necessary.
- Contribute to hold/sell recommendation for public stock distributions from private equity funds as necessary. Conduct appropriate research and analysis to support recommendation.
- Prepare and maintain standardized investment reports on fund managers in the portfolios, as well as those under consideration, and make recommendations for decision-making purposes. Function:Investment Management Percent: 55
Duty 2: - Provide ongoing research coverage of designated sub-sectors of the private equity market (e.g. US venture capital or distressed debt) to identify industry trends and market intelligence and communicate the findings of such insights to the Private Equity Team.
- Conduct fundamental research and analysis in the due diligence process to identify and monitor the performance of fund managers and co-investments.
- Support due diligence within the research process on investments under consideration.
- Conduct research and analysis within the due diligence process to identify, evaluate, negotiate, and monitor the performance of the asset class.
- Support the Limited Partnership Agreement review and ensure all aspects of closing a fund are being met from a relationship and business point of view. Function:Research Percent: 25
Duty 3: - Utilize problem-solving skills to analyze investments on a risk adjusted basis.
- Assess risk factors associated with assigned investment opportunities.
- Consult with the Managing Director or Investment Officers on the overall impact of an investment on the risk reward of the entire portfolio. Function:RISK REPORTING Percent: 10
Duty 4: - 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 such as Real Assets or Absolute Return.
- Provide analysis, recommendations, and responses to potential regulation from State and Federal governments that would impact the Private Equity portfolio and its partners. Function:Other Duties Percent: 10
Job Requirements - Bachelor's degree in related area and/or equivalent experience/training
- Strong quantitative skills that can be applied to generate qualitative and quantitative independent analysis, develop original models, and review the quantitative work of other team members.
- Strong 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 process and results to the Managing Director and Private Equity Team in a timely fashion.
- With guidance from Managing Director and Private Equity Investment Officers, proficient at prioritizing multiple tasks and planning and managing projects in their entirety and ensure they are delivered on time.
- Demonstrate sound judgment when to seek advice or help from the Managing Director or Private Equity Investment Officers.
- Ability to support/inform investment decisions with incomplete information.
- Ability to develop investment forecasts and modify decisions based on updated forecasts and changing data points.
- Strong working knowledge of the major General Partners in the Private Equity and Venture Capital.
- Working knowledge of Limited Partner legal agreements and key economic terms that impact the investment
- Proficient at relationship management and able to build and utilize extensive personal network of industry contacts.
- Ability to quickly and accurately assess the risks and merits of an opportunity. Required
- Graduate Degree (e.g. MBA or JD) and/or CFA or equivalent professional certification
- Knowledge about the University's investment policies and processes; asset allocation guidelines and benchmarks.
- Knowledge of International Private Equity & Venture Capital markets with a focus on Western Europe and/or Asia
- Prior experience with the evaluation of secondary 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. Preferred
About us The University of California, one of the largest and most acclaimed institutions of higher learning in the world, is dedicated to excellence in teaching, research and public service. The University of California Office of the President is the corporate headquarters to the ten campuses, five medical centers and three Department of Energy National Labs and enrolls premier students from California, the nation and the world.
The University of California is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, age or protected veteran status.
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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.