Asset & Wealth Management, Multi-Asset Solutions: Portfolio Construction and Manager Research - Private Markets Specialist, Vice President - New York

Asset & Wealth Management

A career with Goldman Sachs Asset & Wealth Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world's leading asset managers with over $2 trillion in assets under supervision, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and regions, and building meaningful relationships with your clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset & Wealth Management provides clients around the world with a dedicated partnership and focus on long-term performance. As a primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors and individuals.

Multi-Asset Solutions

Multi Asset Solutions (MAS) is a multi-asset class investing group that sits within the Asset & Wealth Management business at Goldman Sachs. MAS is responsible for managing customized multi-asset class portfolios and funds in a discretionary manner for institutional clients. Our clients include US and international corporate and public pension plans, insurance balance sheets, endowments, foundations, healthcare institutions, and sovereign wealth funds. The team is comprised of professionals with deep and varied investment backgrounds who specialize in designing and implementing customized multi-asset class portfolios. The team applies rigorous techniques to strategic and dynamic asset allocation, asset-liability analysis, portfolio design and implementation, risk management, and portfolio reporting and analytics. The team has been managing customized multi-asset class mandates since 1995 as a committed partner to large institutions globally.

Overview

The successful candidate would become a member of our investment team, as part of the Portfolio Construction and Manager Research group within MAS. This role is critical to the continued success of our multi-asset platform and will coordinate closely with MAS’ research and client teams as well as product teams across the Asset & Wealth Management division. Specifically, the role would be responsible for private assets portfolio construction and manager research within MAS.  This role is highly analytical and detail-oriented.

Responsibilities 

Portfolio Construction

• Conduct research on how to construct and implement allocations to privates within multi-asset portfolios.  For example: analysis of asset classes and sub-asset classes including potential benefits and drawbacks, risks and returns; recommended allocations; manager sizing; benchmarking; and commitment pacing.
• Develop “rules of the road” for investing in privates, recognizing MAS has multiple client channels with different objectives and constraints.

Manager Research & Due Diligence

• Evaluate private strategies across GSAM proprietary and external platforms, to identify what strategies from approved lists to include in MAS portfolios.
• Diligence GSAM private asset strategies.  Prepare diligence memos, peer comparisons, and approval materials for MAS’ Investment Center (“IC”)
• Conduct ongoing monitoring of approved managers (performance, risk, attribution, organizational changes), report regularly on findings to key stakeholders, and recommend actions as needed

Secondary Sales

• Lead MAS’ secondary process for legacy private assets.
• Evaluate potential brokers, developing and carrying out RFI's
• Identifying client portfolios and investments suitable for a secondary sale

Modeling & Assumptions

• Contribute to privates modeling inputs and assumptions (e.g., expected returns, volatility, correlations, implementation structure)
• Partner with Research teams to ensure consistency of privates assumptions across MAS.

Client Support

• Support LPM’s on client-specific questions and issues, such as understanding and following rules of the road, conducting new research when new client situations demand, and supporting in the development of client materials such as Investment Committee materials and RFP’s.
• Partner with LPM’s and PM’s to ensure portfolios follow best practices where appropriate, and documenting where deviations occur.

Product & Platform Development

• Support development and evolution of privates products (e.g., building block funds, private asset vehicles), including portfolio design and supporting materials
• Coordinate private asset deployment by working with LPM’s to identify clients for specific funds and drive new commitments top completion

Qualifications:

• >10 years of investment experience in privates assets, or multi asset portfolio management inclusive of private assets 
• Detail-oriented and organized with the ability to manage multiple tasks in a fast-paced environment
• A self-starter able to work independently and thrive in a team environment
• Risk management and control orientation
• Excellent project management skills
• Excellent writing and communication skills
• Ability to communicate investment strategies and rationales to audiences of varying levels of sophistication