Portfolio Manager – Real Estate
Who we are
The State Board of Administration of Florida (SBA) is the investment organization managing the assets of the Florida Retirement System (FRS) and other funds. With more than $200 billion in total assets under management, the SBA is one of the largest institutional investors in the world. A key responsibility is the management of the FRS Pension Plan, the 5th largest public pension fund in the U.S. Year after year, the SBA is able to accomplish sound, long term investment returns above benchmark, while always keeping our beneficiaries’ interests at the forefront of our actions.
At the SBA we recognize that our talented colleagues drive our sophisticated investment strategies, prudently balance risk and reward, and generate above-benchmark returns while adhering to the highest professional and fiduciary standards. It is vital to maintain the trust of the employees and beneficiaries of the funds we oversee. The SBA is committed to seeking individuals who will enhance our team by contributing to our knowledge pool while adhering to the ethics and integrity that underscore our investment strategies and management.
What we need
The SBA is currently seeking a Portfolio Manager for the Real Estate asset class. This position manages an assigned portfolio of commingled funds, co-investments and Real Estate Investment Trust separate accounts. The position also performs fund due diligence and oversight of the legal and closing process and helps determine SBA real estate requirements and investment objectives.
What you’ll do
• Performs investment management of assigned externally managed portfolio, with necessary oversight from the Senior Portfolio Manager (SPM), or from a Portfolio Manager II (PM II) appointed by the SPM
• Communicate with managers of assigned externally managed portfolio, with oversight or input by the SPM, and document communications with all necessary parties
• Evaluates investment strategy, conducts manager sourcing and performs due diligence with oversight by the SPM
• Builds and maintains professional relationships and continues to develop professional knowledge
• Performs other duties as assigned
What you should have
A bachelor’s degree from an accredited college or university in real estate, finance, mathematics, accounting, economics, business or a related field and four years of related experience, or any combination of education and/or experience equal to the minimum requirements.
• Five (5) or more years of commercial real estate experience with a good understanding of the commercial real estate business, including real estate market dynamics, real estate value drivers, capitalization rates, market rents, market research, etc.
• Investment Management experience
• Knowledge and understanding of real estate financial statements and market data, and ability to interpret and translate the information.
• Knowledge of commingled fund documentation and terms
Knowledge, Skills and Abilities:
• Advanced analytical and quantitative skills
• Intermediate to advanced skills with Microsoft Office Suite
• Exceptional written and verbal communication skills, including ability to articulate recommendations in a conscience and timely manner
• Ability to solve problems involving several options in situations
• Ability to multi-task and efficiently negotiate changing priorities and responsibilities to meet deadlines
• Ability to organize and summarize complex financial and legal information
• Ability to take initiative and make timely, cost-effective decisions using sound and appropriate judgment with minimal direction in a fast-paced environment
• Strong capacity to adapt quickly in a learning situation
• High level of integrity and professionalism, including an overriding commitment to the team’s success as well as accountability for specific performance
• Travels frequently (20% +/-) to various locations throughout the United States and/or internationally. Involves work outside of normal business hours to meet deadlines and working remotely to maintain contact with others and normal office-related duties
Hiring Range: $76,000 - $95,000 base salary
The SBA offers a competitive salary, incentive compensation program, and an excellent benefits package including medical, dental, group life, short term disability, retirement and professional development opportunities.
What to do next?
If this sounds like you, visit: https://jobs.sbafla.com for full job posting and to apply online.