About this position
Position Overview
Reporting to the Managing Director, ZFO is seeking to recruit a Principal who will be responsible for sourcing, conducting due diligence, recommending, executing, and monitoring of fund investments (and co-investments) across all asset classes. S/he will serve as a generalist but may have sub-specialties in which he/she has an established network of managers. The successful candidate will be someone who appreciates, is willing to contribute to, and will help grow the ZFO, is process oriented, entrepreneurial and is genuinely energized by the opportunity to help build an innovative portfolio. As a senior professional in the office, s/he will be expected to lead by example through unquestionable integrity, commitment, pride in quality of work product and mentorship. S/he will be someone who genuinely recognizes and is energized by markets, investing, and the opportunity to help build and contribute to the growth and success of the family office.
Primary Responsibilities
The Principal will be an integral part of the investment team of generalists and will ideally have had exposure to a wide range of asset classes with particular experience in private investments and equity co-investments. The successful candidate will take a lead role in sourcing, evaluating, and monitoring external managers, and will participate in decisions related to asset allocation, portfolio construction, and risk management. Additional responsibilities include:
· Sourcing and maintaining a pipeline of investment opportunities that will provide a strategic advantage to ZFO’s investment portfolio
· Conducting thorough due diligence on the most compelling prospective opportunities including analysis of investment strategy, process, organization, realized and unrealized portfolio positions, and performance
· Articulating and defending opinions backed by rigorous analysis through both oral and written communication
· Remaining current on new managers and developing trends by attending conferences, annual meetings and building and maintaining a well-developed network of contacts within the investment community
· Preparing Investment Committee recommendations for new managers
· Working with the operations team to develop and maintain reports that analyze fund and portfolio-level exposures (including sector, geographic, leverage, underlying positions, etc.), risk metrics, liquidity, and performance attribution
· Collaborating with the Managing Director on asset allocation decisions and sharing investment knowledge as well as economic and market information gained from interactions with managers
· Developing genuine relationships built on trust and results with members of the Zell family, the Chai Trust Company Board and committees, and colleagues across the company
· Upholding the family’s reputation for professional excellence, integrity, and community responsibility
Requirements
The successful candidate will be a proven investor with at least ten years of investment experience with at least five years of experience working at a family office, endowment, foundation, OCIO firm, fund of funds, or similar organization allocating capital to external investment managers. Previous direct or co-investing experience at a buy-side firm is a plus, as is private markets experience. Individuals will be selected more for their intellect, communication ability, investment acumen, and overall philosophy than for any particular background.
Additional qualifications include:
· Strong investment track record through complete market cycle(s)
· Sincere interest in investing, combined with a high level of curiosity and motivation to achieve success
· Clear investment philosophy, with the ability to remain intellectually open to new ideas and approaches
· A strong fiduciary mindset; long-term, opportunistic approach; and deep, open alignment with the goals and values of the Zell family
· Established network of investment contacts and GP relationships; ability to access independent network for manager evaluation and reference checking purposes
· A broad macro understanding of financial markets, with an ability to anticipate trends and identify ways to make profitable long-term investments in traditional and non-traditional asset classes
· High “EQ” and ability to work effectively with a variety of personalities and multiple constituencies. This means self-awareness and humility combined with intellectual rigor and investment sophistication.
· Superior analytical and quantitative skills, coupled with reasonable judgement and qualitative insight
· Strong verbal and written communication and presentation skills, including experience presenting to Boards and committees
· Good judgment and work ethic and a practical approach to business issues
· Strong independent investment network
· Highly collaborative and team-oriented with strong interpersonal skills
· A patient and disciplined investor who seeks and accepts a high degree of personal responsibility
· Highest standards of personal and professional ethics, discretion and integrity
· Willingness to travel
· Strong academic credentials are expected; an MBA/CFA or other advanced degree is preferred