Job Summary The Texas Permanent School Fund Corporation is seeking a Senior Investment Analyst to join its Absolute Return Strategies and Public Equities team.
The team manages a portfolio of external investment managers across a range of hedge fund and public equity strategies, including long/short equity, market neutral, relative value, multi-strategy, quantitative, global macro, long only and other differentiated investment approaches.
This is an investment role with significant responsibility for manager research, due diligence, portfolio monitoring and investment analysis. The Senior Analyst will work closely with senior investment professionals and will have meaningful exposure to external investment managers, prospective investments and the broader institutional portfolio.
The successful candidate will combine strong analytical skills with intellectual curiosity, sound investment judgment, excellent communication skills and the ability to develop differentiated perspectives on investment managers and strategies.
What You'll Do Investment Research and Due Diligence - Source and evaluate prospective hedge fund and public equity investment opportunities across a broad range of strategies, sectors, and geographies.
- Conduct comprehensive quantitative and qualitative due diligence on prospective and existing investment managers.
- Analyze investment philosophy, strategy, portfolio construction, risk management, organizational structure, team, incentives, and operational infrastructure of prospective and existing investment managers.
- Evaluate investment performance, including attribution, exposures, factor sensitivities, drawdowns, liquidity, and risk-adjusted returns.
- Conduct market and strategy research to identify emerging opportunities, risks, and areas of potential investment interest.
- Prepare detailed investment research and recommendations for senior investment professionals and the Investment Committee.
Portfolio Management & Monitoring - Monitor existing managers and maintain a deep understanding of their portfolios, investment processes, personnel, and business developments.
- Evaluate changes in portfolio positioning, risk, exposures, performance, and investment strategy.
- Assess portfolio-level exposures, diversification, liquidity, beta, factor exposures, and other relevant risk characteristics.
- Participate in manager meetings, investment conferences and other industry events to develop relationships and maintain current market knowledge.
Investment Execution - Support the investment process from initial sourcing and screening through due diligence, Investment Committee approval, documentation, and implementation.
- Prepare investment memoranda, portfolio analyses, presentations and other materials used in investment decision-making.
- Work collaboratively with Legal and Compliance, Risk, Operations, Operational Due Diligence and other internal teams to execute investments and monitor ongoing requirements.
- Contribute to special projects and strategic initiatives designed to improve the team's investment process and portfolio outcomes.
What We're Looking For - Bachelor's degree in Finance, Accounting, Economics, Business, or a related field
- 2+ years of relevant investment experience, preferably including hedge funds, public equities, asset management, investment banking, investment research, or another role involving fundamental investment analysis.
- Demonstrated understanding of public equity markets and/or alternative investment strategies.
- Strong quantitative and analytical skills, including the ability to analyze investment performance, portfolio exposures, and risk.
- Excellent written and verbal communication skills, including the ability to distill complex investment concepts into clear conclusions.
- Demonstrated ability to conduct independent research and develop well-supported investment views.
- Strong attention to detail and the ability to manage multiple priorities in a deadline-driven environment.
- High level of integrity, intellectual curiosity, and professional judgment.
Preferred but Not Required - Experience conducting due diligence on external investment managers.
- Direct experience evaluating hedge funds, long/short equity, market neutral, relative value, multi-strategy, or other alternative investment strategies.
- Experience evaluating public equity managers or conducting fundamental equity research.
- CFA or CAIA designation, or progress toward either designation.
- MBA or other relevant graduate degree.
- Familiarity with portfolio analytics, performance attribution, factor analysis, and investment databases.
- Established relationships within the hedge fund and/or institutional investment community.
Key Benefits This position offers the opportunity to work as part of a sophisticated institutional investment team with direct exposure to leading investment managers and strategies across the global public markets.
Texas PSF's status as a special purpose governmental corporation allows for a unique opportunity to provide state employee benefits along with other company perks. Our extensive state employee benefits package includes retirement benefits, employer-paid health and basic life insurance, generous paid holidays, and multiple retirement options-along with longevity pay and a range of optional insurance plans. You can find additional benefits details at www.ers.texas.gov. Employees also enjoy various in-house training and professional development opportunities, free downtown parking, flexible work arrangements, and an office location near the Moody Amphitheater at Waterloo Park.
