Manager, Alternative Investments

Location: Montreal
We’re one of Canada’s largest pension investors, with CAD $299.7 billion of net assets as of March 31, 2025.We invest funds for the pension plans of thefederalpublicservice, the Canadian Forces, the Royal Canadian Mounted Police andthe Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.#
** ABOUT THE TEAM
** Global Alpha - Alpha Alternatives is a US $14B AUM business with a mandate to deliver uncorrelated returns to the Total Fund, play a completion role within PSP and be the spearhead of innovative investment strategies. Alpha Alternatives is composed roughly 50|50 of the “All-Weather Portfolio”, a portfolio of relative value fund investments; and Integrated Strategies (IS), which has three core strategies:
Capital Events, Risk Transfers and Royalties & Rights. Across the three core strategies, the IS team partners with top-tier hedge funds as a fund investor and co-investment partner, as well as managing a book of direct investments.

The IS team is made-up 8-10 investment professionals with experience across a breadth of alternative equity and credit strategies, in both public and private markets. Directors lead each of the three strategies and team members work across all of IS, based on the overall opportunity set, resource allocation needs and personal development goals.#
** ABOUT YOUR ROLE
** The
** Manager, Alpha Alternatives
** is a member of the IS team, reporting to the Managing Director Alpha Alternatives. The roles of the Manager are the following:
* Supporting directors in articulating investment strategy by sub-strategy (e.g. in Royalties and Rights: Entertainment IP) through understanding sector dynamics, sizing opportunities, determining risk/return profiles and relative attractiveness, defining where we play and how we play, and executing on the strategy through select partner fund investments and individual deals
* Developing IS view on sector through close market observation, on-going discussions with sector players and experts, and active participation in sector conferences and events
* Collaborating with IS partners to determine new/growing sub-strategies or those going through dislocation. Designing entry strategies
* Maintaining framework of risk/return across sub-strategies for optimal capital allocation and proactive capital recycling
* Working closely with partners to monitor fund investments as well as screening and executing on select co-investments
* Leading due diligence efforts on deals, transaction structuring, negotiation of terms, driving internal investment approval processes and actively monitoring investments in the portfolio
* Interacting with other internal teams as it relates to risk, legal, audit (internal, external), valuations, ESG and external legal counsel
* Actively contributing across Alpha Alternatives to investment strategy, portfolio and performance review and process/tool improvement Sourcing
* Liaising with IS partners in generating and maintaining an active pipeline of new investment opportunities
* Triaging and prioritizing opportunities for rapid assessment, go/no go decisions and partner response
* Pro-actively developing a professional network of relationships through reach-out to best practice firms and active conference attendance Investment execution
* Driving investment thesis preparation and communication. Demonstrating thorough, factbased analysis and rational for base case attractive risk-adjusted returns. Detailing of business scenarios that could drive investment performance and why downside scenario risk is acceptable or how it is mitigated
* Leading the negotiation of term sheets, commitment letters and agreements. Ensuring key economic/governance terms are aligned with PSP interests and investment thesis
* Supervising broader PSP…