New York Common Pension Fund Looking to Hire Senior Investment Officer

The $242.3 billion New York Common Retirement Fund is looking for a senior investment officer for its emerging managers program. The pension fund is also looking to hire an assistant counsel for investments.

The senior investment officer will be based in New York City and will report to the interim director of emerging managers, according to a job posting from executive search firm EFL Associates.

The NYSCRF’s Emerging Manager Program aims to invest in newer, smaller and diverse investment management firms. This includes new and increased commitments to emerging managers or transactions made directly by the pension fund, as well as new and increased commitments through emerging manager funds-of-funds.

The position’s main responsibilities include working with fund-of-funds and external advisers to source emerging manager opportunities; creating a strategy to build and grow the emerging managers program; and performing due diligence on emerging manager opportunities, including leading the evaluation of the manager’s investment process, portfolio exposures, risk management and performance.

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Other senior investment officer duties include:

Representing the NYSCRF externally to increase the Emerging Managers Program’s recognition and awareness;
Leading internal and external meetings and building advisory relationships with emerging managers, fund-of-funds and advisers;
Creating guidelines and funding strategies that encourage inclusion and support for developing emerging managers;
Working with asset class teams to identify mandates suitable for emerging managers and emerging managers who can fill them; and
Mentoring and developing junior investment staff on investment knowledge and career topics.

The position of assistant counsel, which will also be based at the pension fund’s New York City office, will report to the NYSCRF’s general counsel. Responsibilities of the position include working closely with investment staff to negotiate and manage investments among all asset classes, including public equity, fixed income, real estate, private equity, real assets, credit and opportunistic and absolute return strategies.

The assistant counsel will be expected to actively participate in negotiating and/or drafting all substantive documents regarding investments and review-related legal matters that arise during the management of the portfolio. The role will also be tasked with drafting and negotiating a range of investment-related contracts, such as investment management agreements, adviser and consultant contracts and non-disclosure agreements.

Other duties of the role include:

Reviewing, commenting on and working with outside counsel and investment staff on negotiating alternative investment deals;

Monitoring outside counsel’s work in respect to direct real estate acquisitions and dispositions;
Participating in the structuring of customized investments;
Ensuring contract compliance with NYSCRF investment law and internal policies and procedures;
Advising on fiduciary, investment and policy restrictions or issues; and

Reviewing and advising amendments, consents, major decision requests and other post-closing legal matters for existing investments.

The posted annual salary range for the senior investment officer position is $157,319 to $208,448. A salary range for the assistant counsel position was not mentioned in the posting.