Director Investments

Job Description

For all recruiting inquiries related to this position, please reach out to spider@bmbllc.com

Spider Management Company (“Spider Management” or “Spider”), a wholly owned affiliate of the University of Richmond (“University”), is the investment office for the University and a select group of other endowments and foundations. Through a unique outsourced chief investment officer (OCIO) model, Spider Management has over $7 billion in assets under management, representing nearly $4 billion from the University and over $3 billion from other non-profits including colleges & universities, independent schools, community foundations, and cultural institutions.  Spider Management is a leading investment management firm, investing in a single portfolio across public equity, hedge funds, absolute return, venture capital, private equity, and real assets strategies.

The Position

The Director, Investments will be an integral part of the investment team, with a focus on evaluating opportunities across Spider’s public asset classes, including public equity, absolute return (directional hedge funds, lower correlation strategies, credit), and fixed income.  This individual will participate in all aspects of the investment process from initial screening and due diligence, through approval, to post-investment monitoring and reporting. The successful candidate will assist in overall portfolio management – detailed and thorough manager research, portfolio analysis, performance analysis, and manager meetings.  This person will work closely with all team members, including senior members of the investment team, investment analysts/associates, and members of the Operations and Investor Relations teams. They will engage in meetings with a range of external stakeholders, including the investment committees of the University of Richmond and Spider’s other non-profit client partners.

Responsibilities

The successful candidate will have the following responsibilities:

Portfolio Management

• Identify and evaluate new investment opportunities through conducting due diligence meetings with potential managers, performing quantitative analyses, completing reference calls, and preparing written investment memos

• Cultivate relationships with prospective managers through networking, reference calls, and industry landscaping

• Contribute to portfolio management decisions by monitoring the global economic and market environment and researching potential long-term, thematic investment opportunities across asset classes

• Actively lead and contribute to investments across all public asset classes (public equity, absolute return, fixed income)

• Perform quantitative and qualitative analyses of the public portfolio, individual public sub-asset classes, and current and prospective managers

• Perform industry research and analysis to help inform portfolio allocation and manager selection decisions

• Actively engage in and contribute to discussions and investment decisions across the entire portfolio, including private asset investments

Monitoring and Reporting

• Perform ongoing review and analyses of current managers regularly (monthly or quarterly)

• Lead external manager relationships and communication, including attending annual meetings, manager due diligence meetings, and conference calls, in partnership with other members of the public-focused team

• Work with the Investor Relations, Operations, and Investment teams to prepare quarterly reports, investment committee meeting materials, client presentations, and special projects

• Work with the Operations team to develop and maintain reports to monitor the public portfolio along with current and prospective managers

Other Responsibilities

• Provide training and mentorship to junior professionals

• Represent Spider to a range of external stakeholders, including investment managers, the University of Richmond, and external clients

• Maintain a strong network within the GP and LP investment community to contribute to Spider’s portfolio management and brand

• Contribute to enhancing the team’s overall culture, effectiveness, and reputation for professional excellence

• Other projects as requested

Professional Experience / Qualifications

The successful candidate will have at least 8-12 years of investment experience, including some experience working at an endowment, foundation, OCIO firm, family office, fund of funds, or similar organization allocating capital to external investment managers. Additional qualifications include:

Required Knowledge, Skills, and Ability:

• Demonstrated knowledge of financial theory and portfolio analytics

• Experience investing in public markets through external managers

• Deep understanding of equities, credit, and fixed income securities

• Sound understanding of a wide variety of financial instruments

• Strong quantitative, analytical, and problem-solving skills

• Strong command of financial systems (Bloomberg) and Microsoft Office suite of products (Excel, Word, PowerPoint)

• Able to work both independently with minimal direction and collaboratively on a team

• Ability to work on concurrent projects and prioritize accordingly

• Demonstrate initiative

• Strong written and verbal communication skills

• Strong organizational skills and attention to detail

• Ability to meet challenging deadlines while maintaining a high degree of quality and accuracy

• Project management skills

• Experience with AI-powered productivity tools, including large language models (LLMs), or willingness to learn and utilize such tools effectively

Preferred Knowledge, Skills, and Ability

• Interest and commitment to nonprofit investment management

• Experience training and mentoring more junior professionals

• Strong communication skills to represent Spider to a range of internal and external stakeholders and investment managers

• MBA and/or CFA, preferred

Exceptional personal qualities include:

• Unquestioned integrity and the highest ethical standards

• Imagination and creativity

• A team orientation and collegial style

• Foresight and pragmatism

• A commitment to a culture of excellence and client service

• Outstanding communication skills and a diplomatic interpersonal manner, confident personal style, and humility

For all recruiting inquiries related to this position, please reach out to spider@bmbllc.com