Senior Investment Officer – Investment Manager Research

Senior Investment Officer – Investment Manager Research

Missouri Local Government Employees Retirement System (
LAGERS
), one of the largest institutional investors in the United States, managing nearly $12 billion in assets, is seeking a Senior Investment Officer (SIO) with experience in investment manager research. Working in conjunction with the investment strategy and risk teams, this role is responsible for the due diligence, selection, ongoing management, and monitoring of LAGERS’ external managers across a diversified, multi-asset portfolio spanning public and private equity, fixed income, real assets, and hedge funds.

The SIO is expected to lead institutional investment manager due diligence and monitoring efforts across multiple asset classes. The role is responsible for identifying and managing relationships with high-quality investment partners, conducting rigorous qualitative and quantitative analysis, and ensuring alignment with LAGERS long-term objectives, risk tolerance, and governance standards. The SIO, as an investment manager research team member, will collaborate closely with the investment team, consultants, and senior leadership to support asset allocation decisions and enhance risk-adjusted returns.

Key Responsibilities

• Manager Due Diligence & Selection
  • Lead comprehensive due diligence on prospective investment managers across public and private markets, including evaluation of investment strategy, process, performance attribution, risk management, team, operations, governance, and competitive landscape.
  • Actively participates in and leads due diligence meetings via telephone, virtual, and/or in-person, including off-site.
  • Develop and maintain standardized due diligence frameworks, scorecards, and approval workflows consistent with institutional best practices.
  • Evaluations and recommend individual investments and add-on investments to senior team members.
• Portfolio Oversight & Monitoring of Existing Investments
  • Monitor with a deep understanding of existing managers, including performance reviews, strategy drift, risk assessments, guideline compliance, and organizational changes. Provide recommendations to senior team regarding manager changes.
  • Analyze performance and cash flows; participate and lead conference calls, due diligence meetings, and represent LAGERS as Limited Partner Advisory Committee (LPAC) member.
  • Evaluates and assess amendments to existing legal and partnership agreements in conjunction with counsel and consultants (if appropriate) and provide recommendation.
  • Develop, manage, and deepen external investment relationships.
  • Partner with risk and operations teams to ensure accurate exposure measurement, fee transparency, and adherence to contractual terms.
• Investment Strategy & Collaboration
  • Contribute to tactical and strategic asset allocation discussions through relative-value analysis, manager opportunity sets, and implementation considerations.
  • Support cross-portfolio initiatives such as fee optimization, co-investment evaluation, secondary market opportunities, and portfolio liquidity management.
  • Maintain thorough understanding of current public and private markets and conduct research as needed.
  • Mentor junior staff and help cultivate a culture of intellectual rigor, collaboration, and continuous improvement.
• Governance & Communication
  • Prepare clear, decision-ready materials for senior leadership and the Board, translating complex investment concepts into concise insights.
  • Represent the organization with external partners, industry groups, and peers while upholding the highest ethical and fiduciary standards.
  • Maintains strong and open internal communications.

Qualifications & Experience

• 7+ years of institutional investment experience with significant exposure to external manager research and due diligence, including private asset classes.
• Demonstrate knowledge of investment manager research processes with expertise in evaluating investment processes, performance attribution, risk analytics, and operational due diligence.
• Familiarity with public pension governance, asset allocation frameworks, and multi-asset portfolio construction.
• Strong quantitative skills with the ability to…