Cornell University was founded in 1865 and is located in Ithaca, New York. Both a private university and the land-grant institution of New York State, Cornell University is the largest and one of the most socioeconomically and educationally diverse members of the Ivy League and is administered by partnerships between central administration and the colleges and schools. On the Ithaca campus, nearly 14,000 undergraduate and more than 6,000 graduate and professional students are served by more than 1,600 faculty in eleven distinct colleges and schools, seven that admit into undergraduate programs, each boasting a world-renowned academic curriculum and faculty. Many undergraduates participate in a wide range of interdisciplinary programs, play meaningful roles in original research, and study in Cornell programs in Washington, New York City, and the world over.
Cornell’s Office of University Investments directs the University’s approximately $7.1 billion long-term investment fund under the oversight of the University Board of Trustees, which is responsible for strategic management of all investable funds and implements policy through the Investment Committee of the Board. The Board, Investment Committee, and Office of University Investments are focused today on recruiting an outstanding, seasoned investment professional to support the University’s Chief Investment Officer in New York City.
The Investment Office, led by Ken Miranda and supported by 20 team members, oversees the University’s investment programs with a goal to ensure that endowment contributions fulfill and sustain their intended purposes in perpetuity. The model asset allocation of the Long-Term Portfolio, which is the investment vehicle for the University’s endowment, is 32.5 percent public equities, 19 percent private equity and venture capital, 18 percent real assets, 16 percent absolute return, and 14.5 percent fixed income and cash.
THE POSITION
Reporting to the Chief Investment Officer and working with senior staff, the Investment Officer will primarily assist with the identification, evaluation, recommendation, and monitoring of investment opportunities for the real assets (natural resources and real estate) portfolio which has a target allocation of 18% or $1.27 billion. Although real assets will be the main focus, the successful candidate will work closely with the rest of the investment team and ideally be able to contribute to all other areas of portfolio construction, monitoring, and management.
RESPONSIBILITIES
The successful candidate will play a significant role in the management of the endowment portfolio. This individual will primarily focus on the real assets portfolio; however, s/he will be assigned to manage various asset classes based on his/her experience and desire. Additional responsibilities include:
- Sourcing and maintaining a pipeline of investment opportunities and funds that will provide a strategic advantage to the University’s investment portfolio
- Conducting thorough due diligence (both investment and operational) on the most compelling prospective opportunities including analysis of investment strategy, process, organization, portfolio positions and performance
- Monitoring performance, portfolio positions, current events and organizational changes of the University’s existing fund managers and completing analytical reviews to evaluate the relative performance of each fund manager on a regular basis
- Preparing and presenting recommendations regarding new investment opportunities to the Investment Office Staff and the Investment Committee for approval
- Maintaining the team’s reputation for professional excellence and credibility both inside the University and throughout the investment management community
- Researching and leading topics of discussion on an ad hoc basis
- Recruiting, training and supervising internal investment professionals; fostering a culture of intellectual curiosity, analytical rigor and innovation
QUALIFICATIONS
The successful candidate must have the vision, creativity, and at least seven years of substantial relevant investment experience from an endowment, foundation, pension fund, or investment management firm, major Wall Street institution or fund-of-funds. S/he must have experience investing in both real estate and natural resources and should possess the investment credibility, confidence and communication skills to interact with the CIO, the Board and various constituents. Additional qualifications include:
- Must have the ability to integrate strong analytics in his/her quantitative and qualitative investment evaluations
- Established network of investment contacts and GP relationships; ability to access independent network for manager evaluation and reference checking purposes
- Collegial and able to coordinate team efforts
- Strong communication and presentation skills, both spoken and written; the ability to influence and negotiate effectively
- Strong planning and organizational skills and a proven ability to work independently and under pressure
- A patient and disciplined investor who seeks and accepts a high degree of personal responsibility
- The highest level of integrity, intellectual capability, honesty and loyalty; excellent judgment
- Willingness to travel
- Must be enthusiastic about being part of the University and contributing to its mission
- Strong academic credentials are required.A Bachelor’s degree is required; an MBA, MS, PhD, CFA or an equivalent designation is strongly preferred.
If interested, please apply here.
Interested candidates should send their cover letter and resume to:
David Barrett Partners, the firm managing this search, at:
cornell@davidbarrettpartners.com
