Private Equity Investment Associate

Firm Description

Founded in 2001, Partners Capital is a Global Investment Office acting for distinguished endowments and foundations, senior investment professionals and prominent families across the globe. With $75B in assets under management, the firm constructs customized investment portfolios for its clients tapping into its deep network of partnerships with what we consider exceptional asset managers across all major asset classes. Clients include Syracuse University, Sesame Workshop, INSEAD Business School, New York’s Metropolitan Opera, San Francisco Symphony, Eton College, Colorado College, several Oxford and Cambridge University Colleges, several family offices around the world, and senior executives from leading global investment firms. The firm employs more than 350 people across its eight offices located in Boston, New York, London, San Francisco, Paris, Singapore, Hong Kong and Dallas.

Partners Capital is diverse and inclusive, in people and in thought. Our meritocracy is enabled by fostering a truly inclusive and collaborative culture. We are proud to be an equal opportunity employer where diverse perspectives, backgrounds and experiences are valued.

Position Description

The Investment Associate located in San Francisco will be a key contributor to our 25-person Private Equity and Real Estate team. As a sophisticated global investment firm with nearly 25 years of private markets experience, we seek new team members who are dynamic and comfortable working in a fast-paced entrepreneurial environment.

The Partners Capital Research team is the engine for identifying and underwriting attractive investment opportunities for inclusion in client portfolios, as well as the deployment of our discretionary investment vehicles. Within our broader Research team, the Private Equity and Real Estate team manages the Firm’s investment program and external manager relationships across buyouts, growth equity, venture capital, and real estate and infrastructure. The primary goal of the Private Equity and Real Estate research team is to deliver high absolute returns over the long-term by partnering with top-tier managers. The team also supports the growth of the business through innovation, creativity and continuous improvement of our investment program in the face of a competitive and rapidly changing market environment.

Your role will be focused on investment diligence (70% allocation) and portfolio management (30% allocation):

Investment Diligence (70% Allocation)

• Investment Diligence: Support rigorous and comprehensive due diligence of private equity, venture capital, growth equity, and real estate primary fund investments. This role will primarily focus on private equity and growth equity primary fund investing, with additional exposure to venture capital and real estate primary fund investing. Stress-test the manager’s assumptions and develop an independent view of the merits of the investment, particularly in the context of the manager’s mandate, skill and experience. Diligence activities include meetings with managers, quantitative analysis of portfolios and performance, qualitative assessments of team, investment process and research quality, and external referencing and triangulation. The diligence process concludes with a detailed written investment presentation for discussion among the team and with the Internal Investment Committee.
• Investment Research: Lead and support research and analysis on investment opportunities, industry trends, and market dynamics across the private equity asset class. Contribute to investment theme ideation and creation of firm intellectual property.
• Prepare Internal and External Investment Documentation: Create materials for internal investment committee consideration. Internal documentation includes transaction information, company/opportunity financial analyses, due diligence findings, and investment recommendation. External documentation includes redacted summary investment materials for clients.

Portfolio Monitoring and Process Management (30% Allocation)

• Portfolio Monitoring: Support ongoing diligence and monitoring of investment managers and opportunities, including formal quarterly and annual reporting processes. Manage the compilation of quarterly and annual reporting, monitor activity from our managers (new investments, key performance drivers, exit announcements, important manager news), ensure our potential fund investment pipeline is up to date, analyze key portfolio metrics (e.g., EBITDA growth and leverage levels for our buyout portfolio, net operating income growth for PE Real Estate), and manage responses to client team requests and legal document amendments. Attend Annual Meetings for investment managers within coverage responsibilities.
• Process Management: Process management is critical to the success of the team’s investment activities. Core responsibilities to include supporting the preparation of materials for our monthly Asset Class Team-Client CIO meeting, investment database support, and marketing support. This role will involve participation in or leadership of special projects relating to investment process and strategy, as well as preparation of summary materials for client-facing teams and fundraising activities.

In addition to the above, you will, for variety, take on other activities and projects, which might include researching and improving our portfolio construction knowledge and approach, assisting with business development, or helping to develop our technological capabilities. Key responsibilities may be assessed and are subject to change from time to time based on the needs of the business.

Additional responsibilities include:

• Responsible for ensuring all information security processes, policies and procedures are adhered to and any issues or concerns are raised with the Cyber Security team
• Ensure full compliance with all local data protection regulations and privacy controls, and any related issues are raised via the appropriate channels

Qualifications / Attributes

• Undergraduate degree with a strong track record of academic achievement.
• Two to four years of prior work experience in a professional services role (e.g., private equity LP investing, private equity direct investing, investment banking, management consulting, or corporate strategy).
• Experience in private equity investing (buyouts or growth equity) is strongly preferred.
• Proficiency in Microsoft Office (Excel, PowerPoint, Word, Outlook).
• Aptitude for rigorous qualitative and quantitative analysis delivered via an answer-first communication style.
• Excellent problem-solving and interpersonal skills.
• Strong work ethic, good attention to detail, and ability to multi-task.
• Team player attitude with a desire to work on a wide range of projects.
• High intellectual curiosity and willingness to contribute to the overall success of the business.

Benefits and Compensation

Partners Capital is committed to being a great place to work. We are focused both on wellbeing and professional growth. You can expect professional development and career progression opportunities, competitive compensation, exceptional benefits, and a flexible “results-focused” working model. Our benefits package includes medical, dental, and vision insurance, short and long-term disability insurance, life insurance, flexible spending accounts, commuter benefits, paid time off and a 401(k) plan with employer matching. The Firm also supports global philanthropy via a charity program and volunteer day. In addition, we champion a variety of wellness and social events. We also support the pursuit of professional certifications such as the Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), etc.

California requires Partners Capital to include a reasonable estimate of the base salary range for this role. This base salary range is specific to individuals applying to work in our California office and takes into account a number of factors. A reasonable estimate of the base salary range for this role in California is $100,000 - $140,000. The base salary offered will be determined on factors such as experience, skills, training, certifications, and education. Decisions will be determined on a case-by-case basis.

The base salary is one element of our competitive compensation package. In addition to the base salary, this position may be eligible for performance-based incentives.

For all California residents, please click here to view the Partners Capital California Applicant Privacy Notice