Fund Manager, Alternatives

Mission Square is a financial services corporation with approximately $79 billion in assets under management and administration and over 600 employees. Founded in 1972, we are dedicated to the retirement needs of public sector employees, delivering results‑oriented retirement and retiree health savings plans, education, investment options, personalized guidance, and related services to more than 9,200 plans and nearly 2 million participant accounts.

Compensation: $ – $

The Fund Manager, Alternatives, plays a key role in managing proprietary alternative investment portfolios, including private investments and both liquid and illiquid alternative strategies such as private equity, private real estate, private credits, hedge funds and other non‑traditional asset classes (“Alternatives”). The role supports senior leadership in sourcing, evaluating, and monitoring alternative investment managers and strategies, while ensuring adherence to investment guidelines and objectives.

It also involves supporting strategic initiatives, managing projects, and collaborating with internal teams and external partners.

• Research, source, and conduct due diligence on external investment managers to build an alternatives investment portfolio in accordance with the funds’ investment guidelines and risk‑adjusted return objectives.
• Conduct qualitative and quantitative analysis on alternative investment funds and strategies, reviewing the existing investment portfolio and providing recommendations for improvement and optimization.
• Perform due diligence on existing and prospective managers across private equity, private credit, real estate, hedge funds, and other alternative asset classes, including onsite visits and conference attendance.
• Monitor adherence to investment guidelines and maintain strong relationships with asset managers.
• Assist in managing cash flows, capital calls, and rebalancing within alternative portfolios.
• Stay informed on market trends, economic developments, and alternative investment strategies.
• Prepare and present routine and ad‑hoc reports on portfolio performance, manager updates, and market insights for internal committees, regulatory filings, and client communications.
• Monitor existing portfolio, including frequent interactions with investment managers, review of quarterly reports, and attending annual meetings; prepare quarterly performance reporting package.
• Maintain and strengthen the group’s networks and relationships with institutional managers and institutional investors in the alternatives space.
• Work closely with the Managing Director to review and provide recommendations for the alternatives strategy, including asset class goals and objectives, asset allocation, cash‑flow forecasting, and long‑term growth strategies.
• Perform other duties as assigned.

• 5+ years of portfolio management within private markets.
• Bachelor’s degree in business or a relevant field.
• CAIA Certification – Preferred.
• Requires 20% travel to annual member conferences.
• Experience in investment management with a focus on alternative asset classes, including private investments and hedge funds.
• Experience in one or more investment areas within the private market investing.
• Experience fostering relationships among institutional managers and investors.
• Experience in quantitative and qualitative analysis and/or management of external managers.
• Experience reviewing, evaluating and negotiating complex partnerships and contractual agreements.
• Experience and skill in understanding and evaluating sophisticated investment strategies.
• Strong analytical skills, understanding of portfolio construction, and familiarity with due diligence processes.
• Excellent written, oral and interpersonal communication skills.
• Strong computer skills (Excel, PowerPoint, Word).
• Must possess the highest ethical standards.
• Ability to communicate complex investment concepts clearly and effectively to various stakeholders.
• Ability to work independently as well as in a collaborative, team‑oriented environment.

• Competitive total rewards package, including base pay, incentive programs, benefits, and a 401(k) plan with matching…