Director of Portfolio Management – Multifamily
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Job Description
Director of Portfolio Management at Bluecrest Residential managing multifamily investment vehicle. Ensuring portfolio execution aligns with long-term liability matching needs for pension partners.
Responsibilities:
- **Strategic Portfolio Oversight**
- **Fund Strategy:** Act as the internal LP voice to ensure portfolio execution aligns with the stated investment thesis, provides optimal diversification across geographies, vintages, and multifamily sub-types (e.g., Garden-style vs. Mid-rise).
- **Fiduciary Leadership:** Act as a primary fiduciary for pension plan LPs, ensuring all investment decisions and capital allocations meet the strict risk-return profiles of institutional retirement funds.
- **Hold/Sell Analysis:** Lead the quantitative assessment for dispositions and recapitalizations, balancing the need for realized gains with the long-term cash flow requirements of our investors.
- **Performance & Financial Governance**
- **Valuation Management:** Direct the quarterly valuation process under institutional standards, coordinating with third-party appraisers and internal deal teams to ensure "bulletproof" marks for audit.
- **Risk Mitigation:** Monitor portfolio-level risk, including interest rate exposure, insurance cost volatility, and regulatory changes (e.g., rent control legislation) that impact the long-term yield.
- **Capital Allocation:** Oversee the funding of major capital expenditure (CapEx) programs across the portfolio, ensuring value-add initiatives are delivering the underwritten ROI.
- **Institutional Investor Relations**
- **LP Reporting:** Own the end-to-end delivery of quarterly institutional reporting packages, utilizing ILPA and GIPS standards to provide best-in-class transparency.
- **Strategic Liaison:** Serve as a key point of contact for Pension Plan Investment Officers and Consultants, presenting portfolio performance, market outlooks, and ESG/DEI initiatives.
- **Side Letter Compliance:** Ensure the fund adheres to all specific LP side letters, including concentration limits and reporting nuances.
- **Operational Infrastructure & Team Leadership**
- **Systems Architecture:** Evaluate and optimize portfolio management technology (e.g., **Yardi, RealPage, etc.**) to automate data collection and improve the speed of "top-down" analysis.
- **Cross-Functional Collaboration:** Partner with the Acquisitions team to ensure "portfolio fit" for new deals and with Asset Management to drive property-level NOI performance.
- **Mentorship:** Lead and develop a team of portfolio analysts, fostering a culture of technical excellence and institutional rigor.
Requirements:
- **Education**: Bachelor's Degree in Finance, Real Estate Economics, Accounting, Business or related field **required**. MBA, CFA, or CPA preferred.
- **Experience**: You have Seven to Fifteen of experience in Real Estate Private Equity, with at least 5 years specifically focused on Multifamily assets. Experience in a portfolio management role is a must and it is a double-bonus if you have experience in asset management as well.
- **Institutional Pedigree:** You have Significant experience managing capital for Public or Corporate Pension Plans (e.g., CalPERS, NYSTRS, GIC) is highly preferred.
- **Technical Mastery:** Fluency in fair value, ILPA and GIPS performance standards.
- **Soft Skills:** Exceptional ability to translate property-level operational data into high-level strategic insights for a Board of Trustees.
Benefits:
- **Competitive Salary- **The salary for this position will be determined based on the candidate's total relevant experience. Relevant experience would be the number of years the candidate has as a Portfolio Manager in multifamily real estate
- **Bonuses**- This role may participates in short-term performance-based bonuses and have a long term compensation incentive plan.
- **Paid Time Off**- Unlimited DTO starting upon hire.
- **Mentorship- **Work with an experienced team of multifamily investment professionals.
- **Holiday Pay**- 10 full paid holiday.
- **Paid Volunteer Hours**- 8 hours of paid volunteer time you can use throughout the year.
- **Housing Discounts**- 25% off rent available for all employees off any unit.
- **Comprehensive Insurance Benefits**- Medical PPO, HDHP, FSA, HSA with employer match
- Dental, Vision, STD, & LTD.
- **Retirement Plan**- 401K with a 25% company match up to 6%.
- **Certification Reimbursement**- Full reimbursement for approved industry related certifications, including CAM, CPO, EPA, and more!
- **Tech Forward & Transparent Culture**- Innovative internal software to make your job easier!
- **Cultural Appeal**- We run on transparency and healthy debate (No Fear of Conflict); you are encouraged to appeal and share what is not working well. Your voice truly matters!
- EOE
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