The Investment Analyst position leads the research and due diligence activities for assigned areas in alternatives on behalf of GuideStone Financial Resources (GSFR) and GuideStone Investment Services (GSIS) as directed by the Director of Alternatives. In addition to research and diligence responsibilities related to various alternative investments, this position may also participate in conducting asset allocation analytics for client portfolios as assigned.
While the analyst will participate in a variety of research functions, this role will be the sole dedicated alternative / private credit analyst on the investments team. Thus, the candidate should have a strong background in credit and credit related investing, either on a primary basis or in selecting credit managers, and understand the unique considerations associated with credit underwriting. The candidate will be the primary research analyst covering private debt (including middle-market lending, specialty leasing/lending, mezzanine, senior and subordinated debt investment strategies) and other credit-related investments including structured credit, distressed debt and special situations investing. All investing activities are done in a manager of managers capacity as we do not directly invest in individual credits. The candidate should have a solid understanding of the macroeconomic environment and be able to select investment opportunities thematically and opportunistically based on the best investment opportunity sets in different market environments. The ideal candidate will also have a good working knowledge, of and experience with, investing in credit-related hedge funds as well as other alternative investments.
What you will do:
- Lead investment and manager research and diligence efforts for private/alternative credit opportunities globally.
- Lead all manager/fund sourcing and diligence efforts, establishing a strong sourcing and referral network, and maintain a robust pipeline of private and alternative credit managers and funds.
- Identify investment themes, market inefficiencies, dislocations and other attractive investment opportunities across all private and alternative credit market opportunities on a global basis. Articulate such opportunities to the Director of Alternatives and with the broader alternatives investment team.
- Participate as a deal team member across all areas of alternative investment strategies (including equity, debt, real assets, hedge funds) by actively participating in meetings of other analysts/senior analysts to provide feedback, challenge investment thesis, and review other’s work.
- Actively participate in macro-economic discussions, developing convictions and providing relative assessment of investment opportunities by completing a quarterly heat map and contributing to our thematic investing strategy.
- Actively diligence co-investment opportunities alongside fund investments when available.
- Maintain very advanced skills on all analytical tools and reporting applications to support the investment management and research process.
- Develop market information, analysis and insights concerning factors influencing performance of managers/funds and client accounts.
- Maintain strong working relationship with each manager and fund under assignment for the purpose of building strategic relationships and facilitating all ongoing portfolio management diligence and reporting needs including meeting coordination, etc.
- Initial and ongoing ranking of all managers (existing and select pipeline opportunities) within established, proprietary manager ranking system.
- Responsible for working closely with Director of Alternatives and alternative investments team to evaluate the appropriateness of investment management firms and strategies in relation to portfolio construction needs across all client accounts and be able to provide timely and relevant recommendations.
- Prepare and present detailed and thorough investment recommendation memos to internal Investment Committee.
- Ensure that all research meeting notes are properly documented in a standardized form and in a timely manner.
- Organize investment manager due diligence records in a manner that are easily and efficiently accessible by other members of the portfolio management team, including both internal manager call notes, opinion documents, research briefs, recommendation memos and research collected from external sources.
- Produce quarterly manager reports on all assigned strategies including an update on performance drivers, positioning, market outlook, firm/strategy update, analyst conclusions and follow-up items.
- Update commitment pacing model and oversee cash flow projections for assigned private market investments to assist the portfolio manager with asset allocation decisions.
- Work with the legal, compliance and finance professionals in the due diligence process to fully understand all diligence requirements and adherence to stated policies.
- Establish and maintain manager mandates/guidelines (as applicable).
What you will need:
- Bachelors Degree or equivalent work experience.
- Masters Degree, preferred.
- Chartered Financial Analyst (CFA), preferred.
- Chartered Alternative Analyst (CAIA), preferred.
- Solid PC skills including spreadsheet and internet capabilities.
- At least 6 years in the investment industry.
- At least 4 years directly applicable experience (credit background and/or private markets manager research)
- Excellent analytical skills.
- Understanding of Solovis is a plus.
- Ability to effectively communicate both orally and in writing to investment managers, internal staff, investment consultants, boards, and third-party vendors.
- Ability to conduct independent research and develop well thought-out conclusions/recommendations.
- Strong understanding of private markets and various investment vehicles, strategies and terminology.
- Utilization of and strong understanding of quantitative evaluation methods and statistical measures necessary for thorough investment analysis.
- Strong understanding of investment philosophies and processes.
- Must have complete confidentiality regarding GuideStone business matters.