Senior Investment Analyst - Real Estate Direct Assets

Senior Investment Analyst, Real Estate Direct Assets (2 Positions) 1.9.25

UC Office of the President

The University of California, widely considered to be the world’s premier public research university, is dedicated to excellence in teaching, research, and public service. The University of California Office of the President is the headquarters of its 10 campuses, six academic medical centers, and three national laboratories. Working at the University of California makes you part of a unique institution and a vibrant and diverse community.

The Office of the Chief Investment Officer of the Regents of the University of California (UC Investments) manages more than $200 billion of endowment, retirement, and working capital assets under the policies, guidelines, and performance benchmarks established by the UC Board of Regents. Our mission and fiduciary duty compel us to always act in the best financial interests of the University of California and to uphold an agile and creative culture of respect and collaboration.

The UC Investments real estate team manages a $10 billion portfolio that is expected to grow significantly over the coming years. The Senior Investment Analyst – Real Estate Direct Assets will be responsible for supporting the team as it executes direct property investments on a global basis. The role emphasizes overall analysis of direct investment opportunities across residential, industrial, and commercial properties for inclusion in the portfolio as well as ongoing monitoring and engagement of our portfolio.

UC Investments is a small team that believes strongly in collaboration. In addition to supporting the real estate team on direct investments the Senior Investment Analyst will frequently collaborate with colleagues to evaluate investment opportunities in real‑estate funds, as well as our private and public markets teams.

• Oversee a portfolio of direct real‑estate assets, reviewing quarterly reporting, producing bi‑annual monitoring reports, conducting site visits, coordinating with property managers, and processing waivers/consents.
• Analyze and conduct due diligence on acquisition opportunities, including leading underwriting efforts, performing quantitative analysis, preparing investment memos, coordinating third‑party transaction support, and structuring/negotiating legal documents.
• Maintain a database of industry relationships and benchmarks to support comparable analysis and provide market intelligence.

• Analyze and manage risk within the overarching “Risk Rules” framework at UC Investments, emphasizing leverage, liquidity, concentration, and worst‑case downside risk.
• Consult with the co‑heads of real‑estate on the overall impact of an investment on the risk‑reward of the entire portfolio.li>
• Monitor capital calls and distributions and contribute to liquidity risk management within the portfolio.

• Support UC student and faculty engagement initiatives, such as the UC Investments Academy.
• Lead projects and assignments, such as providing performance attribution, creating presentation materials, project management, and drafting memos and letters.
• Provide additional support to other asset classes or senior leadership on an as‑needed basis.

• Strong quantitative skills that can be applied to generate independent analysis, build financial models, and integrate external quantitative data into internal systems. Review the quantitative work of other team members.
• Prior professional experience in consulting, corporate development, investment banking, and/or real‑estate.
• Excellent communication skills, including the ability to identify pertinent questions to elicit information and understanding from internal and external partners, as well as the ability to clearly articulate investment decision processes and results in a timely fashion.
• Proficient at prioritizing multiple tasks and planning/managing projects in their entirety while ensuring they are delivered on time.
• Ability to apply business/investment judgment when some data points are not…