Although we prefer candidates from the NY Metro area, we are also open to East Coast candidates interested in working remotely. About you and the role:The Investments Senior Associate partners with the Head of Alternatives and Non-Core Specialty Mandates and the Alternative Investments team to support portfolio oversight, forecasting, reporting, and manager evaluation across the Alternatives and Non-Core portfolios.
• Monitor existing external managers and underlying investments
• Build and maintain asset models and financial plan projections
• Support portfolio management, performance analysis, and stakeholder reporting
• Execute manager due diligence, including evaluation and recommendation materials
• Deliver ad hoc analyses and projects to support investment decision-making
Enstar has 30+ managers across Alternatives (Private Equity, Private Credit, Real Estate, Infrastructure, Hedge Funds) and Non-Core (High Yield, Public Equity, CLO Equity) asset classes. These are targeted to represent 30% of approximately $20B in total investable assets and are expected to contribute a significant portion of projected investment return; the remainder is managed by core fixed income managers (outside the scope of this role).
What you will be doing: Key Accountabilities / Deliverables
Ongoing Monitoring of Existing Managers, and Investments
• Quarterly Monitoring: Support initial and ongoing relationships with assigned managers; produce quarterly investment updates; and ensure the accuracy of existing ratings
• Performance Measurement and Attribution: Analyze and explain absolute and relative performance; attribute results versus budget, assigned benchmarks, and peer groups
• Manager Scorecards: Maintain scorecards for funds, strategies, and managers using a combination of qualitative and quantitative analysis
• Peer Group Analysis: Deliver peer-group comparisons for existing and prospective managers and strategies
• Investment Data Management: Maintain up-to-date mandate, manager, and investment data across internal databases and third-party systems
Asset Modelling and Financial Planning
• Asset Modelling: Develop, maintain, and update NAV, cash flow, gain/loss, and return projection models for assigned investments and managers
• Plan Development: Support the setup, execution, and ongoing maintenance of Alternatives financial plan projections
Portfolio Management and Reporting
• Investment Execution Support: Support negotiations for new investments; coordinate with regional investment teams, risk management, investment operations, investment accounting, legal counsel, external vendors, and investment managers
• Onboarding and Setup: Onboard new managers and investments in coordination with regional investment teams, legal, investment accounting, investment operations, and IT, as well as external managers and vendors; ensure internal systems and databases are updated with complete and accurate manager and investment data
• Compliance: Monitor adherence to internal and external portfolio constraints; escalate and support remediation as needed
• Reporting: Prepare quarterly materials for the Group Investment Committee, Board of Directors, and/or CIO
Manager Due Diligence
• Pipeline Development: Develop market maps for Alternative and Non-Core asset classes; build and maintain an accurate forward fund pipeline for existing and prospective managers; produce peer-group comparison summaries for pipeline managers
• Manager Due Diligence: Support RFP development and end-to-end due diligence for current and prospective managers and funds, including investment structure review, tax considerations, insurance regulatory capital requirements across jurisdictions, and reference calls
• Investment Recommendation: Draft and/or contribute to investment memoranda and supporting analyses for Investment Committee review
Ad-hoc Projects
• Deliver additional analyses and special projects on an ad hoc basis, as business needs dictate
What you will bring: - 4-6 years minimum experience in an institutional investment role focused on sourcing, due diligence, and monitoring external managers, with 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.
- Demonstrated proficiency in screening and conducting due diligence on alternative investment funds.
- Prior experience in tracking, monitoring, and reporting on a sub-portfolio or sub-strategy within a broader investment program.
- Deep understanding of investment management, asset allocation (strategic and tactical), and capital markets.
- Bachelor's degree required; Master's degree preferred.
- Progress toward CFA and/or CAIA designations is preferred.
- Applicable experience and understanding of non-core asset classes, including: public equity, private equity, real estate, hedge funds, infrastructure, CLO equity, high yield, bank loans, emerging market debt, and other alternative investments.
• Deep understanding of statistical concepts, methods, and models, and their application to investments.
• Knowledge of performance measurement and attribution, and benchmark construction required
• Proficient with calculating alternatives performance measures, and metrics such as TVPI, DPI, IRR, TWR, Unfunded, Exposure etc.
• Proficiency in financial statement analysis, asset and portfolio NAV, Cash-flow, Gain-Loss forecast modelling, LBO modelling - Excellent quantitative skills required for the asset modelling, performance measurement, portfolio construction and risk measurement processes.
• Strong written communication is required for communications with the Investment Committee, Board of Directors, and various internal and external stakeholders.
• Ability to prioritize commitments and time management is a significant requirement given the nature of our operations.
• Ability to use Excel and PowerPoint is critical, given the requirement to develop investment analytics and proposals.
• Strong collaborator with other functional areas and executive management to ensure consistency and efficiency of approach. - Ability to engage in crucial conversations to ensure effective decision making.
Your 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.
General Info The target base salary pay range for this role is $135,000-$155,000*
*Target full-time equivalent base salary range is based on relevant market data. The actual salary offered will depend on applicable market data for hiring location and relevant candidate knowledge, skills/experience. This salary range is not inclusive of applicable discretionary incentives.
