What are the responsibilities and job description for the Investment Officer, Private Markets position at Minnesota Careers?

The Minnesota State Board of Investment is responsible for the investment management of various retirement funds, trust funds, and cash accounts for the State of Minnesota. The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota Constitution to invest all state funds. Its membership as specified in the Constitution is comprised of the Governor (who is designated as chair), State Auditor, Secretary of State, and Attorney General.

Job Details

Working Title : Investment Officer, Private Markets

Job Class : Investment Officer

Agency : State Board of Investment

Job ID : 83191
Location : St. Paul
Telework Eligible : Yes - Up to 3 days per week
Full / Part Time : Full-Time
Regular / Temporary : Unlimited
Who May Apply : Open to all qualified job seekers
Date Posted : 01 / 13 / 2025
Closing Date : 02 / 03 / 2025
Hiring Agency : Investment Board
Division / Unit : State Board Of Investment(SBI) / Private Markets
Days of Work : Monday - Friday
Travel Required : Yes - Up to 30% of the time
Salary Range : $76.01 - $107.74 / hourly; $158,708 - $224,961 / annually
Classified Status : Unclassified
Bargaining Unit / Union : 220 - Manager / Unrep
FLSA Status : Exempt - Executive
SBI currently utilizes a hybrid model, with a minimum of two anchor days in-office per week. This is subject to change at the discretion of the SBI Executive Director.

The work you'll do is more than just a job.

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.

Job Summary

The Investment Officer, Private Markets will conduct investment research & analysis, lead due diligence efforts used in hiring and monitoring investment managers, evaluate investment portfolio performance, and contribute to portfolio risk management efforts. The successful candidate will work with other investment staff across the entire State Board of Investment (SBI). The State Board of Investment's private markets staff is responsible for identifying, performing due diligence, monitoring, and reporting on all private markets investments, including private equity, real estate, private credit and other real assets investments.

The SBI is responsible for the management of over $145 billion in assets from state and public employees invested in the defined benefit, defined contribution, and deferred compensation plans, non-retirement accounts, and state cash accounts.

This position is responsible for the following :

Working closely with SBI staff, general partners, consultants, and other constituents to implement goals and objectives.

Maintaining and developing relationships with the SBI's private market general partners.

Participating actively in small and large group meetings with staff, external investment managers and the SBI's Investment Advisory Council and other constituents.

Identifying, evaluating, recommending, and monitoring private markets investments.

Performing due diligence and developing relationships with potential new investment opportunities.

Coordinating the discussion of general partner legal and business terms and conditions in partnership agreements with SBI's internal legal staff.

Assisting SBI senior investment staff in developing and implementing overall portfolio strategy.

Assisting in overall private markets strategic portfolio management, including cash flow modeling, asset class review and general preparation of written and verbal presentations.

Attend off-site annual meetings and due diligence and monitor meetings and industry conferences.

Mentor and develop junior staff

Contributing as a member of a team committed to diversity, equity and inclusion in our work and workplace.

Qualifications

Minimum Qualifications

Bachelor's Degree.

At least five (5) years of professional experience as an analyst, researcher, consultant, or similar position within a finance or investment setting.

Intermediate-to-advanced skill level in Microsoft Excel.

Successful completion, or enrollment in the program and demonstrated continuous progress towards completion, of the Chartered Financial Analyst (CFA) program.

Ability to work collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others' ideas and expertise; is willing to learn from others.

Excellent organization skills and the ability to handle and prioritize multiple tasks in order to deliver outputs within prescribed times and quality standards.

Preferred Qualifications

At least five (5) years of experience in sourcing, providing due diligence, monitoring private market managers, and / or co-investment opportunities.

Experience in financial modeling or data analytics.

Progress toward an advanced degree and / or CFA designation.

The development of a network of peers in the private markets and institutional investment industry.

Additional Requirements

It is the policy of the State board of Investment that all employees submit to a background investigation prior to employment. The background check may consist of the following components :

SEMA4 Records Check (applies to current and past State employees only)

Criminal History Check

Employment Reference Check

Social Security and Address Verification

Education Verification

Driver's License Check

The Retirement Systems will not sponsor applicants for work visas. All applicants must be legally authorized to work in the US.

Application Details

How to Apply

Select "Apply for Job" at the top of this page. If you have questions about applying for jobs, contact the Careers Help Desk at 651-259-3637 or email careers@state.mn.us . For additional information about the application process, go to http : / / www.mn.gov / careers .

Contact

If you have questions about this position, contact Betsy Leftholz at Betsy.Lefholz@hr.mnretirement.us .

About Investment Board

The Minnesota State Board of Investment is responsible for the investment management of various retirement funds, trust funds, and cash accounts for the State of Minnesota.The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota Constitution to invest all state funds. Its membership as specified in the Constitution is comprised of the Governor (who is designated as chair), State Auditor, Secretary of State, and Attorney General.

Working together to improve the state we love.

What do Minnesota's State employees have in common?

A sense of purpose in their work

Connection with their coworkers and communities

Opportunities for personal and professional growth

Benefits

As an employee, you'll have access to one of the most affordable health insurance plans in Minnesota, along with other benefits to help you and your family be well.

Your benefits may include :

Paid vacation and sick leave

12 paid holidays each year

Low-cost medical, dental, vision, and prescription drug plans

Fertility care, including IVF

Diabetes care

Dental and orthodontic care for adults and children

6 weeks paid leave for parents of newborn or newly adopted children

Pension plan that provides income when you retire (after working at least three years)

Employer paid life insurance to provide support for your family in the event of death

Short-term and long-term disability insurance that can provide income if you are unable to work due to illness or injury

Tax-free expense accounts for health, dental, and dependent care

Resources that provide support and promote physical, emotional, social, and financial well-being

Support to help you reach your career goals :

Training, classes, and professional development

Federal Public Service Loan Forgiveness Program (Some positions may qualify for the Public Service Loan Forgiveness Program. For more information, visit the Federal Student Aid website at studentaid.gov )

Employee Assistance Program (EAP) for work / life support :

A voluntary confidential program that helps employees and their families with life challenges that may impact overall health, personal well-being, or job performance

Common sources of stress can be addressed through the EAP : mental health, relationship challenges (personal and work), grief and loss, finances, and legal issues

Daily Living / Convenience Services : Chore services, home repair, trip planning, child / elder care

Programs, resources and benefits eligibility varies based on type of employment, agency, funding availability, union / collective bargaining agreement, location, and length of service with the State of Minnesota.

EQUAL OPPORTUNITY EMPLOYERS

Minnesota state agencies are equal opportunity, affirmative action, and veteran-friendly employers. State agencies are committed to creating a workforce that reflects the diversity of the state and strongly encourages persons of color and Indigenous communities, members of the LGBTQIA2S community, individuals with disabilities, women, and veterans to apply. The varied experiences and perspectives of employees strengthen the work we do together and our ability to best serve Minnesotans.

All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, national origin, sex (including pregnancy, childbirth, and disabilities related to pregnancy or childbirth), gender identity, gender expression, marital status, familial status, age, sexual orientation, status regarding public assistance, disability, veteran status or activity in a local Human Rights Commission or any other characteristic protected by law.

APPLICANTS WITH DISABILITIES

Minnesota state agencies make reasonable accommodations to their employees and applicants with disabilities. If you have a disability and need assistance in searching or applying for jobs with the State of Minnesota, call the Careers Help Desk at 651-259-3637 or email careers@state.mn.us and let us know the support you need.

Salary : $158,708 - $224,961

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