Associate - Investment Team

Salem Capital Management ("SCM") is a single-family office based in Providence, Rhode Island. SCM was founded in 2020 by Paul Salem, who was co-founder of Providence Equity Partners and is currently Chairman of MGM Resorts and Woods Hole Oceanographic Institute.

As a single-family office, SCM has flexibility to invest across stages, geographies, and asset classes. Given our private equity roots, most of our focus is on private direct deals. Like a PE fund, we take controlling interests in companies or large minority investments. We have a controlling stake in three companies today, and a meaningful minority stake in several more. We also frequently co-invest alongside other funds, families, independent sponsors, and search funds. In addition to private direct investing, we opportunistically invest in the public markets, looking for compounders that can outperform over the long term or event-driven dislocations that we can capitalize on quickly given our structure. More selectively, we also invest in funds (especially in areas we aren't accessing via our own direct deals, such as venture and blockchain) and evaluate real estate or infrastructure investments. In all situations, we look for great risk / reward tradeoffs, seek out excellent leaders and partners, and try to focus on the key issues that actually drive investment returns.

SCM is in the early innings of its vision to create a self-sustaining, evergreen investment vehicle that can last for decades. A substantial portion of SCM's returns will ultimately be channeled to a sister philanthropic organization, the Salem Foundation, which seeks to make big, needle-moving commitments to various causes. We love what we're building and are having fun doing it.

Ideal candidates will have 2-4 years of experience in investment banking or private equity / hedge fund investing, a strong interest in investing, and a desire to help build a firm as part of a small and lean team. Success at SCM requires intellectual curiosity, intrinsic motivation, and humility. The role also requires versatility and adaptability. In a given week, we are doing everything from sourcing & evaluating new private deals, to hands-on portfolio company work, to researching public markets investments and macroeconomic themes - so we are seeking colleagues who thrive in a dynamic environment and can think critically across different types of problems.

For interested candidates, we would love to discuss working together during the spring semester on an independent project. SCM has worked with several students on independent projects in the past, and it's a great way to get to know each other.

Note : SCM's headquarters is in Providence, but our office is downtown near the train station and several employees live in Boston and commute via Amtrak (~30 minutes). We are typically in the office 3 days per week when not traveling.