Vice President - Manager Research

Incubation Capital Partners ("Incucap") is a growing capital advisory, investment, and executive search firm focused on working with and building next-generation real estate investment platforms. Founded in 2011, Incucap has developed an extensive track record of advising and investing in entrepreneurial real estate investment managers, leveraging its three verticals – Incucap Advisory, Incucap Search, and Incucap Ventures – to support manager growth initiatives across financial capital, human capital, and operational infrastructure.

Since inception, Incucap has supported the launch of 10+ first-time real estate ventures and participated in the placement of over $9 billion of capital commitments into institutional real estate private equity funds, programmatic ventures, entity-level investments, and direct deals. Additionally, Incucap holds an ownership interest in approximately $600 million of AUM.

Incucap continues to experience significant growth, driven by strong demand for its customized services in an increasingly challenging market environment. As the firm expands, this role will play a critical part in sourcing, evaluating, and executing a growing pipeline of strategic opportunities.

Incucap is seeking a Vice President primarily responsible for manager research, due diligence, and corresponding business development initiatives across the firm’s Advisory and Ventures verticals. The VP will participate in the sourcing and evaluation of managers and investment opportunities – including funds, portfolio recapitalizations, programmatic JVs, and principal investments – leading the underwriting and due diligence processes and playing an integral role in the go-to market strategy while engaging directly with senior leadership at external managers.

Additionally, the candidate may support project management and/or distribution initiatives across Incucap verticals.

This opportunity offers high-touch exposure to Incucap’s expansive real estate private equity ecosystem, regular interaction with fund managers, operators, and institutional allocators, and will serve a critical role in Incucap’s growth initiatives.

• Support business development initiatives across verticals to support firm growth
• Lead a comprehensive qualitative and quantitative due diligence process, including assessment of investment strategy, track record, team, governance, and risk management; complete thorough analysis of investment opportunities, including evaluation of portfolios geared for recapitalization and direct investments
• Prepare internal investment committee materials, including underwriting memoranda and research reports; usher opportunities through internal screening and onboarding processes
• Work in conjunction with project management and distribution teams to support the go-to-market strategy and the creation of deliverables, including marketing decks, DDQs, investor due diligence questionnaires, underwriting models, and other ad hoc requests
• Analyze real estate market, sector, and geographic trends in the U.S. and internationally, integrating macro, capital markets, and sector-specific insights into manager evaluations and recommendations
• Maintain the firm’s business development pipeline and maintain relevant databases; support cross-sell initiatives between firm verticals
• Support the management and expansion of the firm's networking organizations - Real Estate Entrepreneurs & Leaders ("REEL") and the Chicago Real Estate Private Equity Network ("CREPE") - including the planning of and participation in local and national events with leading industry professionals

• Bachelor's degree (or higher) with a demonstrated record of academic achievement
• 6–10 years of relevant experience at a real estate investment management platform, operator, and/or limited partner allocator, such as an investment consultant, OCIO, pension, endowment, family office, or other institutional investor
• Demonstrated experience of manager evaluation and selection; asset-level underwriting / direct investment experience preferred
• Strong financial, analytical, organizational, and interpersonal skills
• Proficient in Microsoft Office Suite
• Entrepreneurial mindset with eagerness to take initiative; desire to work in a fast-paced environment