Have you got a nose for picking out and securing investment in the best international venture capital and buyout fund managers? This week’s job posting is at international asset manager Northern Trust which is seeking to add a professional to be part of an eight person team to source, review and close primary investments in US, European and Asian venture capital funds and to a lesser extent, in secondary transactions.
Northern Trust was set up over 120 years ago and as of March 31, 2012, had $92 billion in banking assets; $4.6 trillion in assets under custody and $717 billion in assets under management.
Opportunities to invest in high caliber private equity and venture capital funds are out there for those who have the knowledge and the connections. According to the Preqin Quarterly published in July during Q2 2012, 132 private equity funds held final closes worldwide, raising an aggregate of $65.3 billion. This is a slight decrease in both number of funds closed and aggregate capital raised from the previous quarter, when 167 funds collected a total of $68.1 billion in capital commitments. Despite this, it is evident that fund managers are still able to attract significant amounts of capital from investors, states Preqin. In Q2 2012, 14 funds held a final close on at least $1 billion. The largest fund to close in Q2 2012 was AXA Secondary Fund V, raising $7.1 billion in aggregate capital commitments from investors.
Scroll down to see what sort of qualities and qualifications Northern Trust is looking for to compliment its team in selecting top performing fund managers within the venture and buyouts spectrum.
***Job of the Week***
Job Title: Vice president/senior associate, private equity fund of funds team
Firm: Northern Trust
Location: Chicago, IL
Firm Description: International asset manager Northern Trust was set up over 120 years ago and as of March 31, 2012, had $92 billion in banking assets; $4.6 trillion in assets under custody and $717 billion in assets under management. Northern Trust’s private equity fund of funds team raises capital primarily from Northern Trust clients (wealthy families and institutions) and from outside entities. It invests in venture capital and buyout funds in the US, Europe and Asia.
Job Description (as cited via peHUB Careers):
- Identifying venture capital and buyout fund managers in the US, Europe and Asia, meeting with them and building relationships
- Analyzing potential fund investment opportunities, evaluating their track records, strategies, and teams, and making a recommendation on whether to invest
- Conducting general research in the venture capital and buyout markets, identifying trends, and developing investment theses
- Meeting with fund managers and communicating thoughts to the private equity team
- Compiling information on the existing fund portfolio and developing performance presentations
- Attend annual investor meetings for underlying funds
- Assist with special projects as needed, such as writing industry white papers and compiling ad hoc performance reports
- Travel, potentially extensively, primarily within the U.S. but also to Europe and Asia.
Skills (as cited via peHUB Careers):
- Excellent oral and written communication skills
- Strong interpersonal skills and the ability to build relationships with fund managers
- Self-starter with the ability to initiate and oversee projects to completion
- Strong analytical abilities
- Ability to present in one-on-one settings and to larger groups
- Ability to represent the group before investors, other LPs, fund managers, placement agents, and lawyers
- Must be resourceful in identifying private equity managers and gathering proprietary information about them
- General knowledge about the venture capital and buyout industries, deals, structures, and players
- Knowledge of and experience in using various valuation techniques
Qualifications/Experience (as cited via peHUB Careers):
- Undergraduate degree
- MBA a plus but not necessary
- 5-7 years of work experience, preferably in finance, lending, banking, consulting, technology, or a startup
- Ability to work independently as well as part of a small team
- Experience in managing several tasks at a time and prioritizing
To apply please click here
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