Managing Director - Business Development (with Investment Experience Preferred)- Hybrid role. Westchester/Connecticut event-driven fund, established in 1994, currently with $70m AUM (peak AUM of $740m) with >21% compounded returns in the last 5 years. Target is UHNW, family offices, etc. Base ~$250k w/ annual discretionary 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 >$3m in one year.
Annual returns in 2023 and 2024 were 27% and 24%, respectively. Six of 30 years in business were double-digit returns.
We placed the prior Managing Director, who left because of a requirement to be in the office four days a week. This is no longer a requirement. Once the client and you have a mutual interest, this prior MD agreed to answer your questions about the firm's fundraising.
This person will be on the firm's investment committee. Fixed income, commercial real estate, and other investment, risk, and portfolio construction experience related to event-driven and distressed experience is a plus.
This is a 20+ year client of our firm, and we have completed several strategic assignments, including their CFO.
Overview
There is no better background than thirty years of event-driven experience to take advantage of the disruption and paralysis the markets are now experiencing and will experience for the foreseeable future.
Imagine cutting your investment teeth alongside luminaries such as Carl Icahn and Ron Perelman and with firms such as M.D. Sass;
developing unconventional investment theses;
executing them through adroitness and intellectual capacity by investing across the appropriate capital structure
using short selling to predict bankruptcy, participating in the bankruptcy by deciding where and when to take positions in the bankruptcy settlement,
going long when emerging from bankruptcy and
having the patience and fortitude to hold positions for years, possibly.
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, master's. Certifications such as CFA preferred
Fixed income, commercial real estate, and other investment, risk, and portfolio construction experience related to event-driven and distressed experience is a plus..
Being able to demonstrate that you raised at least an average of $20m per year over the last 10 years broken down by investor type (i.e., UHNW, family offices, institutional clients by type)
Selling to clients who invest in events driven 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