Sr. Portfolio Manager III, Private Markets Sr. Portfolio Manager III MSRP

Introduction

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System ("System"). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430,000 participants (customers), including 192,000 members who are actively employed and participating in the System, 165,000 payees who receive a monthly payment from the System, and 40,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System ("System"). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430,000 participants (customers), including 192,000 members who are actively employed and participating in the System, 165,000 payees who receive a monthly payment from the System, and 40,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.

MSRP 0013

120

E. Baltimore St.

Baltimore, MD 21202

• Lead all phases of the investment process for emerging private market managers, including sourcing, evaluation, due diligence, recommendation, execution, and ongoing monitoring.
• Construct and manage a diversified emerging manager portfolio using a total portfolio perspective.
• Serve as the primary relationship manager for multiple private market general partners and strategic program partners.
• Partner closely with investment professionals across all asset classes to identify opportunities that strengthen the overall portfolio.

• Lead all phases of the investment process for emerging private market managers, including sourcing, evaluation, due diligence, recommendation, execution, and ongoing monitoring.
• Actively sources investment ideas and makes recommendations.
• Make recommendations to hire and fire investment managers.
• Evaluate investment opportunities across private equity, private credit, real estate, and infrastructure.
• Source, evaluate, and recommend direct co-investment opportunities alongside existing and prospective investment partners.
• Perform detailed financial and operational due diligence on investment managers and underlying portfolio companies across multiple industries, sectors, and geographies.
• Prepare comprehensive investment recommendations and present to investment staff and CIO.
• Responsible for achieving excess return over an approved weighted benchmark.
• Determines whether prospective managers exhibit appropriate style & characteristics vs. existing exposures.
• Uses data based, quantitative analysis to support investment ideas and recommendations
• Sets return and risk objectives for each manager and monitors performance to those targets.
• Conducts detailed performance attribution to explain the sources of risk and return
• Works collaboratively with Risk function to map EDGE private market exposures to common risk factor exposures, and to establish pacing of investments for total fund liquidity management.

• Construct and manage a diversified emerging manager portfolio using a total portfolio perspective.
• Develop portfolio allocation recommendations and monitor exposures to ensure appropriate diversification and risk management.
• Directly responsible for recommending allocations on both the manager level and sub-asset class level based on perceived opportunities and existing exposures.
• Manage portfolio pacing, commitment schedules, and capital deployment consistent with long-term strategic objectives.
• Continuously monitor investment performance and identify opportunities to optimize portfolio construction.
• Collaborate with the Risk Management team to map risks to a common set of risk factors for a true…