Role Description
The Investment Associate partners with the VP - Alternative Investments, and the Non-Core Investments team to support manager selection, monitoring, reporting, forecasting, and operational activities across the Alternatives and Non-Core portfolios.
-
Monitoring external managers and underlying investments
-
Delivering monthly, quarterly, and annual reporting
-
Building and maintaining asset models and financial projections
-
Supporting portfolio management, performance analysis, and stakeholder reporting
-
Conducting manager due diligence and preparing evaluation and recommendation materials
-
Delivering ad hoc analysis and project support to inform investment decision-making
Enstar manages relationships with more than 30 external managers across Alternatives (Private Equity, Private Credit, Real Estate, Infrastructure, and Hedge Funds) and Non-Core (High Yield, Public Equity, and CLO Equity) asset classes. These portfolios are targeted to represent approximately 30% of Enstar’s roughly $20 billion in investable assets and are expected to contribute a significant portion of projected investment returns.
What you will be doing
-
Ongoing Monitoring of Existing Managers and Investments
-
Support initial and ongoing relationships with assigned managers; take meeting notes; summarize presentations; draft and circulate monitoring notes and quarterly investment updates; and ensure the accuracy of existing ratings.
-
Analyze and explain absolute and relative performance; assess results against budget, assigned benchmarks, and peer groups.
-
Maintain scorecards for funds, strategies, and managers using both qualitative and quantitative analysis.
-
Develop and maintain peer group comparisons for existing and prospective managers and strategies.
-
Maintain accurate and up-to-date mandate, manager, and investment data across internal databases and third-party systems.
-
Manager Due Diligence
-
Support RFP development and end-to-end due diligence for current and prospective managers and funds.
-
Contribute to investment memoranda and supporting analysis for Investment Committee review.
-
Portfolio Management and Reporting
-
Onboard new managers and investments in coordination with regional investment teams, Legal, Investment Accounting, Investment Operations, IT, external managers, and vendors; ensure internal systems and databases are updated with complete and accurate manager and investment data.
-
Develop, maintain, and update NAV, cash flow, gain/loss, and return projection models for assigned investments and managers.
-
Reconcile portfolio holdings to Investment Accounting reports and perform data integrity checks across multiple systems, including Clearwater, BNY’s NEXEN, StepStone Omni, Canoe, and Power BI.
-
Prepare quarterly materials for the Group Investment Committee, Board of Directors, and CIO.
-
Update and enhance reports built in Power BI and Excel.
-
Coordinate with custodians and vendors on fund setup; ensure all funds are reflected in upstream systems in a timely manner; and work with vendors and counterparties to transfer holdings between accounts and legal entities.
-
Ad Hoc Projects
-
Deliver additional analysis and special projects on an ad hoc basis as business needs dictate.
Qualifications
-
A minimum of 2–4 years of experience in an institutional investment role focused on the due diligence, monitoring, and reporting of external managers, with an emphasis on the alternative strategies noted above.
-
Experience within an insurance company environment—such as an investment general account, CIO office, or insurance asset manager—is strongly preferred.
-
Experience screening, conducting due diligence on, and monitoring external alternative funds and managers is required.
-
Bachelor’s degree required; master’s degree preferred.
-
Progress toward the CFA and/or CAIA designation is preferred.
-
Understanding of non-core and alternative asset classes, including private credit, private equity, real estate, infrastructure, hedge funds, public equity, CLO equity, and high yield.
-
Solid understanding of statistical concepts, methods, and models and their application to investment analysis.
-
Knowledge of performance measurement, attribution, and benchmark construction.
-
Knowledge of alternative investment performance measures and metrics, including TVPI, DPI, IRR, TWR, unfunded commitments, and exposure.
-
General understanding of investment management, strategic and tactical asset allocation, and capital markets.
-
Proficiency in Excel modeling and the quantitative skills required for asset modeling, performance attribution, and reporting.
-
Strong skills in PowerPoint, Word, and Bloomberg, with familiarity with StepStone Omni, MSCI Private I, or similar alternative investment platforms.
-
Ability to manipulate large data sets and translate them into actionable insights using Excel (including pivot tables) and/or Power BI.
-
Ability to develop new portfolio and investment results exhibits that are clear, concise, and easily digestible for senior management and other decision-makers.
-
Strong written and verbal communication skills.
-
Strong ability to collaborate effectively across functional areas.
Benefits
-
Enstar offers best-in-class Medical, Dental, and Vision healthcare for single and family coverage.
-
Board-certified doctors and pediatricians are available virtually 24/7 for urgent care.
-
Access to Health Savings Account (HSA) or Flexible Spending Account (FSA).
-
Access to Dependent Care FSA to cover daycare expenses.
-
Access to Employee Assistance Programs (EAP) for health and well-being.
-
Optional Pet & Home/Auto Insurance.
-
Wellness Reimbursement program (up to $600 annual reimbursement for wellness-related expenses, i.e., gym memberships, massage, etc.).
-
401K retirement plan (company matches up to 6% of employee contribution).
-
One paid annual volunteer day.
