Director of Investments - 501254
University of Richmond

Richmond, Virginia


Director of Investments - 501254

THE ORGANIZATION
Spider Management Company ("Spider Management" or "Spider") is the investment office for the University of Richmond and a select group of other endowments and foundations. Through a unique outsourced chief investment officer (OCIO) model, Spider manages over $6 billion in assets, representing approximately $3 billion from the University of Richmond and $3 billion from over 25 other non-profits, including colleges & universities, independent schools, community foundations, and cultural institutions. Spider Management is a dynamic and fast-paced investment management firm, investing a single portfolio across public equity, absolute return (hedge funds, credit, lower correlation strategies), private equity (venture capital and buyout), real assets (real estate and natural resources), and fixed income strategies.

At Spider Management, we are the only university-owned investment firm that offers its services exclusively to non-affiliated endowments and foundations. Our philosophy - do one thing and do it well. Our experienced team maintains a consistent and disciplined process focused on growing the University of Richmond and partners' endowments through strong absolute returns, capital preservation, and a long-term horizon through a diversified portfolio of world-class managers. Our investment strategy is designed to align with other like- minded endowments and foundations, with the goal of generating the best risk-adjusted returns for our clients.

POSITION

Reporting to the Chief Investment Officer ("CIO"), Spider is seeking to recruit a Director of Investments who will be responsible for the sourcing, conducting due diligence, recommending, executing, and monitoring of investments, and potentially co-investments, particularly in the private markets. As a senior leader of the team, s/he will invest in the team via recruiting and training and will work with the senior leadership on asset allocation and portfolio construction. The successful candidate will be someone who appreciates, is willing to contribute to, and will help grow Spider's culture and who understands the value of building and maintaining relationships, is process-oriented and is excited to further enhance a high performing investment portfolio and team.

RESPONSIBILITIES

The Director will be an integral part of the investment team and will ideally have had exposure to a wide range of asset classes and be able to contribute across the portfolio. The successful candidate, ideally, will have particular experience in private investments, and will take a lead role in sourcing, evaluating, and monitoring external managers, and will participate in decisions related to asset allocation, portfolio construction, and risk management. Additional responsibilities include:

  • Sourcing and maintaining a pipeline of investment opportunities that will provide a strategic advantage to Spider's investment portfolio
  • Conducting thorough due diligence on the most compelling prospective opportunities including analysis of investment strategy, process, organization, realized and unrealized portfolio positions, and performance
  • Articulating and defending opinions backed by rigorous analysis through both oral and written communication
  • Remaining current on new managers and developing trends by attending conferences, annual meetings and building and maintaining a well-developed network of contacts within the investment community
  • Collaborating with the CIO and other team members on asset allocation decisions and sharing investment knowledge as well as economic and market information gained from regular interaction with managers
  • Working closely with the Investor Relationship team to help inform portfolio reporting and communication
  • with Spider's external clients
  • Maintaining a network with the outside investment community to expand Spider's knowledge regarding investment opportunities and to serve as references
  • Working with the team to conduct private markets investment portfolio analytics and liquidity projections
  • Attending annual meetings and advisory board meetings as needed
  • Representing Spider with a range of constituents, including the University of Richmond Investment Committee and external partners
  • Acting as a team player; holding others accountable, providing clarity, encouragement and feedback, as well as being receptive to feedback and making modifications to one's approach and behaviors, as needed
  • Assisting in building the team's reputation for professional excellence and credibility both inside the organization and throughout the investment management community

QUALIFICATIONS

The successful candidate will be a proven investor with at least ten years of investment experience with at least five years of experience working at a family office, endowment, foundation, OCIO firm, fund of funds, or similar organization allocating capital to external investment managers. Individuals will be selected more for their intellect, communication skills, investment acumen, ability to help strengthen the portfolio and team, and overall philosophy than for any particular background. Additional qualifications include:
  • Strong investment track record through complete market cycle(s)
  • Demonstrated track record of sourcing and investing in private markets managers (ideally buyouts and venture capital)
  • Ability to leverage critical thinking, independent judgement and experience to constructively contribute to investment decisions across the portfolio
  • Sincere interest in investing, combined with a high level of curiosity and motivation to achieve success
  • Clear investment philosophy, with the ability to remain intellectually open to new ideas and approaches
  • Ability to incorporate rigorous qualitative and quantitative analyses in the evaluation of investment strategies, human and organizational dynamics, investment processes, and investment performance
  • Strong understanding of capital market dynamics, risk, and complex investment strategies
  • Established network of investment contacts and GP relationships; ability to access independent network for manager evaluation and reference checking purposes
  • High "EQ" and ability to work effectively with multiple constituencies
  • Strong communication skills and the ability to present perspectives and recommendations, both verbally and in writing, in a clear and logical manner
  • Team-oriented and willing to roll up his/her sleeves to contribute to the group's common objectives
  • Independent thinking
  • Self-motivated and directed, possessing an ability to motivate others
  • Ability to portray Spider as a desired investor to top tier investment managers
  • The highest level of integrity, honesty, and sense of fiduciary duty
  • CFA/MBA or equivalent graduate degree expected

TO APPLY: SpiderInvestments@davidbarrettpartners.com



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