MD - Businessss Development
Revised 2025.03.27 @ 12noon
Please re-read the first paragraph if you viewed this before the above date. I've edited the paragraph to describe the opportunity better. I'm sorry for any misunderstanding of the opportunity, given the prior description, which is copied at the bottom.
Managing Director - Business Development - Hybrid role. 30+-year-old Westchester/Connecticut event-driven fund with $70m AUM (peak AUM in mid-2010 of $740m) that has invested >$3bn since inception with >21% compound return in the last 5 years. Target is family offices, UHNW, etc. Base ~$250k w/ annual discretionary incentive compensation guided by this calculated: 20% of management fee and incentive fee revenue from assets you raise and remain managed by the client at the end of the calendar year. A prior incumbent earned >$3mm in one year.
Annual returns in 2023 and 2024 were 27% and 24%, respectively. Returns through February 2025 are 1.5%. Six of 30 years in business were double-digit down returns.
We placed the prior Managing Director, and once mutual interest is confirmed, this person may be able to speak with you so you can get this person's perspective on the firm. This person left because of the commute from Manhattan. The requirement to be in the office frequently is no longer required.
This is a 20+ year client of our firm, and we have completed several strategic assignments.
Overview
Our client serves family offices and high-net-worth clients worldwide. As a registered investment advisor with a well-established strategy, the client has “best practices” across their business areas (i.e., portfolio management, business development, compliance, infrastructure, teamwork, careers, etc.).
The Managing Director - Business Development will work alongside the Managing Member and other senior personnel to raise capital for the firm’s alternative investment strategies by initiating, developing, and maintaining client relationships with allocators.
Responsibilities
Raise Capital by prospecting, qualifying, and developing new client relationships and by re-energize discussions with the firm’s existing investor relationships
Deliver outstanding presentations; Maintain accurate records of client contact in Salesforce and travel to visit clients and prospects
Perform other duties and projects as assigned
Requirements
Bachelor’s degree required with a proven track record in raising capital
Selling to clients who invest in events drive funds a plus.
A high degree of initiative, a sales mentality and discretion to maintain client and prospect confidentiality
Excellent presentation, verbal, and written communication skills with highly motivated and ability to work independently
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Prior Description
Managing Director - Business Development - Hybrid role. 30+-year-old Westchester/Connecticut event-driven and multi-strategy fund that has invested >$3bn since inception with >20% returns the last 2 years. Target is family offices, UHNW & institutional clients. Base $250k w/ annual incentive compensation calculated as 20% of the revenue from the management fee and incentive fee from assets you raise and remain managed by the client at the end of the calendar year. A prior incumbent earned >$3mm in one year.