Real Estate Portfolio Manager II

Monthly Salary:  $7,699.16 - $13,021.33

To apply for positions at the Employees Retirement System of Texas, a State of Texas Application and ERS Qualifications Form are required.  To access these forms and for more information on how to apply, visit our career page.

The Employees Retirement System supports state employees who have dedicated their career to supporting Texas!  Come join our Investments Division and be part of our mission to achieve optimal investment returns at a prudent level of risk using a long-term perspective.  The Real Estate Portfolio Manager II will assist the Director of Real Estate in identifying, evaluating and executing limited partnership, co-investment and separate account investment opportunities in core, value add and opportunistic strategies for US and internationally focused funds.

 

ERS promotes a strong work-life balance while driving employee excellence through professional development, a collaborative working environment and a competitive benefits package that includes health and wellness programs to enhance quality of life.

 

Essential Functions:  Includes all of the following, but are not limited to;

• Sources, analyzes and recommends private real estate closed-end and/or open-end funds, co-investments or separate account investment strategies that achieve long-term portfolio characteristics and returns within acceptable risk parameters.

• Monitors and maintains existing investments and relationships with fund managers and assists in tracking cash flows, performance, and portfolio attributes as well as maintaining internal databases.
• Coordinates and supports the activities of legal and operations to ensure execution of investment transactions, capital calls, and distributions.
• Conducts due diligence and analysis on investment decisions in areas such as: General Partner background and history, portfolio performance vs. benchmarks, portfolio performance relative to risk taken, management team size, structure and experience, attribution analysis, investment strategy, deal flow and exit strategies, reference calls with CEOs, co-investors, lenders, LPs, competitors and support professionals.
• Travels domestically and internationally for due-diligence visits, industry conferences, General Partner Annual Meetings and other functions to develop the knowledge, resources and contacts necessary for quality research and appropriate investment opportunities.
• Follows general economic, regulatory and political developments as well as public and private equity and debt markets globally.
• Communicates strategy and investment recommendations through written and/or oral reports and presentations as requested by the Director of Real Estate, CIO, Executive Director, Investment Committee, or Board of Trustees.
• Complies with CFA Institute Code of Ethics and Standards of Professional Conduct.
• Complies with ethics standards and restrictions on personal investment activities set forth in the ERS Investment Policy. 

Required Minimum Qualifications:  Your application for employment must reflect how you meet each of the following minimum qualifications:

1. Graduation from an accredited four-year college or university with a minimum of 24 semester hours in finance, economics, accounting or a combination thereof.  Each year of related experience over the required minimum may substitute for 12 semester hours of the specific course work requirement.
2. Five (5) years of qualifying investment experience.  A master’s degree in business, finance, economics or accounting may be substituted for one year of required experience.  Each level of the Chartered Financial Analyst program successfully completed may be substituted for six months of required experience.
3. Three (3) years in real estate with a strong preference for Limited Partner investment experience.
4. Choose one essay question to answer and submit with your application.  The length of the essay should be kept to 2 pages, double spaced.

 

Option 1:  Where do you see the best value in the real estate market today and why?   

 

Option 2:  What do you think will be the most significant change or impact to the real estate market over the next 5 to 10 years and describe the potential positive and negative aspects of it?

 

 

Preferred Qualifications:  Your application for employment should reflect how you meet the following preferred qualifications:
  5.   Master’s degree in real estate, business, finance, economics or accounting; or graduate studies in finance. 
  6.   CFA designation or current participation in the CFA program.

 

Other Information:  Work is performed in an office environment.  Travel will be required.  This position may require access to privileged, confidential, or sensitive data.  ERS will conduct either a TXDPS or FBI criminal history check on all new hires.  For more information about this policy inquiries can be made to Human Resources.

 

Military Occupational Specialty Codes:

There are no Military Occupational Specialty Codes for this position.

 

 

How to Apply:  Submit a State of Texas Application for Employment with an ERS Qualifications Form & other required materials, if any, to the ERS, Human Resources Office by 5 p.m. CST on the closing date.  Resumes will be accepted only as supplements to an application. Please contact a Human Resources representative if you need assistance or require accommodation during the application process.

 

Fax:           (512) 867-3161                                      Relay Texas TDD: (800) 735-2989