Investment Analyst: Private Market

About the role

This position is hybrid: 2 days working remotely then working onsite in our Oak Brook IL office!

Responsibilities

• Build and maintain expertise across private market asset classes to support IMRF’s private markets strategy.
• Analyze private market exposures and performance to help meet long term return objectives within established risk parameters.
• Develop and update portfolio level reporting using IMRF’s Portfolio Management Software.
• Track and report weekly cash flow activity, including capital calls and distributions.
• Support the Diversity program through analysis, due diligence, and preparation of recommendations for diverse and emerging manager initiatives.
• Proactively source new investment opportunities across private equity, private credit, real assets, and real estate strategies for recommendation to the Managing Investment Officer, Private Markets Team and Chief Investment Officer.
• Conduct prospective manager meetings and prepare meeting notes in a timely and accurate manner.
• Participate in RFP processes and manager evaluations.
• Conduct due diligence on investment opportunities, reviewing data rooms, conducting quantitative diligence utilizing data and software tools (i.e. eVestment/Top-Q. Pitchbook, and Hamilton Lane Cobalt) and participate and lead due diligence meetings.
• Prepare screening memos and full investment memos with well-supported recommendation documenting qualitative and quantitative findings.
• Participate in evaluating co-investment opportunities and participate on internal co-investment investment committee.
• Monitor global macro and microeconomic trends relevant to investment recommendations.
• Participate in the review and negotiation of legal documents and terms.
• Support team in the completion of subscription and other legal agreements.
• Ensure manager compliance with the relevant limited partner agreements, side letters and investment management agreement(s) and IMRF Investment Policies.
• Prepare semi-annual performance updates for the co-investment portfolio.
• Conduct semiannual meetings with active private market relationships and prepare meeting notes in a timely and accurate matter.
• Review financial reports and other documents to monitor the performance of the private market portfolio.
• Attend annual meetings and advisory board meetings as needed.
• Provide recommendations on LPAC items, amendments and consents.
• Enhance analytical tools for performance monitoring, risk reporting, and cash-flow forecasting.
• Coordinate with advisors and the custodian bank to provide required documentation and authorizations.
• Support operational processes across private market asset classes.
• Contribute to FOIA responses to ensure compliance with legal requirements.
• Participate in improving operational best practices and fostering a high-performance team culture.
• Support departmental initiatives including RFPs, MWBE efforts, asset allocation, and research projects.
• Mentor and train student interns and junior professionals.
• All analysts may also be cross trained to perform all of the tasks and must be familiar with all aspects of Investment Department Operations.
• Represent the Investment Department, as needed, at internal and external meetings.
• Represent IMRF positively as a thought leader within the investment industry.
• Foster a positive culture in support of our Values and individual accountability.
• Support achievement of the organization’s Journey of Excellence, Vision, and Strategic Objectives.

Qualifications

• Bachelor’s Degree or Master’s Degree. Accounting, Finance, or Economics preferred.
• A minimum of five years’ institutional investment experience, including at least two years’ private market investment experience.
• A Chartered Financial Analyst, CFA Level III candidate or a Chartered Alternative Investment Analyst (CAIA) designation preferred.
• Defined benefit, public pension plan experience preferred.

Other Competencies Required

• Ability to think critically about manager performance and portfolio decisions.
• Demonstrated thoughtful and disciplined approach to private market investing.
• Strong oral and written communication skills (including presentation skills).
• Outstanding analytical and problem-solving skills.
• Ability to employ a rigorous due diligence and manager selection process.
• Strong financial modeling skills including working knowledge of Microsoft Excel, PowerPoint, and Access.
• Ability to establish positive working relationships demonstrating integrity and respect.
• Strong work ethic and self-motivating.
• Ability to travel occasionally; holds a valid Driver’s License.