Associate, Investments – Alternative Investments

Although we prefer candidates from the NY Metro area, we are also open to East Coast candidates interested in working remotely.

The Investment Associate partners with the VP - Alternative Investments, and the Non-Core Investments team to support manager selection, monitoring, reporting, forecasting, and operational activities across the Alternatives and Non-Core portfolios.

Key areas of focus include:

• Monitoring external managers and underlying investments
• Delivering monthly, quarterly, and annual reporting
• Building and maintaining asset models and financial projections
• Supporting portfolio management, performance analysis, and stakeholder reporting
• Conducting manager due diligence and preparing evaluation and recommendation materials
• Delivering ad hoc analysis and project support to inform investment decision-making

Enstar manages relationships with more than 30 external managers across Alternatives (Private Equity, Private Credit, Real Estate, Infrastructure, and Hedge Funds) and Non-Core (High Yield, Public Equity, and CLO Equity) asset classes. These portfolios are targeted to represent approximately 30% of Enstar’s roughly $20 billion in investable assets and are expected to contribute a significant portion of projected investment returns. The remaining assets are managed by core fixed income managers and are outside the scope of this role.

• Quarterly Monitoring:
  Support initial and ongoing relationships with assigned managers; take meeting notes; summarize presentations; draft and circulate monitoring notes and quarterly investment updates; and ensure the accuracy of existing ratings.
• Performance Measurement and Attribution:
  Analyze and explain absolute and relative performance; assess results against budget, assigned benchmarks, and peer groups.
• Manager Scorecards:
  Maintain scorecards for funds, strategies, and managers using both qualitative and quantitative analysis.
• Peer Group Analysis:
  Develop and maintain peer group comparisons for existing and prospective managers and strategies.
• Investment Data Management:
  Maintain accurate and up-to-date mandate, manager, and investment data across internal databases and third-party systems.

• Manager Due Diligence:
  Support RFP development and end-to-end due diligence for current and prospective managers and funds.
• Investment Recommendations:
  Contribute to investment memoranda and supporting analysis for Investment Committee review.

• Onboarding and Setup:
  Onboard new managers and investments in coordination with regional investment teams, Legal, Investment Accounting, Investment Operations, IT, external managers, and vendors; ensure internal systems and databases are updated with complete and accurate manager and investment data.
• Asset Modeling:
  Develop, maintain, and update NAV, cash flow, gain/loss, and return projection models for assigned investments and managers.
• Data Reconciliation:
  Reconcile portfolio holdings to Investment Accounting reports and perform data integrity checks across multiple systems, including Clearwater, BNY’s NEXEN, Step Stone Omni, Canoe, and Power BI.
• Executive Reporting:
  Prepare quarterly materials for the Group Investment Committee, Board of Directors, and CIO.
• Investment Reporting:
  Update and enhance reports built in Power BI and Excel.
• Fund Setup and Transfers:
  Coordinate with custodians and vendors on fund setup; ensure all funds are reflected in upstream systems in a timely manner; and work with vendors and counter parties to transfer holdings between accounts and legal entities.

Deliver additional analysis and special projects on an ad hoc basis as business…