Director of Portfolio Management

Director of Portfolio Management

• The Kresge Foundation
• August 07, 2024
• Troy, MI

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The Kresge Foundation is one of the top 20 private philanthropic foundations in the United States and the only one focused exclusively on expanding opportunities for people with low income in American cities. With an endowment of approximately $4 billion and a staff of over 100 employees, the foundation deploys grants and social investments across arts and culture, education, environment, health, human services, and community development.

The foundation’s state‑of‑the‑art headquarters maintains an array of energy‑efficient, water‑conserving and health‑promoting systems. The foundation also operates an office in Detroit’s Midtown district.

Kresge uses a full spectrum of capital tools to address the financial barriers that confront communities of color and other underserved communities. We work alongside our seven program teams to unlock capital for those places and projects that improve equitable outcomes. Our work supports an often under‑resourced community‑development financial system and includes program‑related investments (PRIs) loans, equity investments, strategic deposits, and unfunded guarantees, which helps other investors invest in ways and in places they might not otherwise.

Social investing at Kresge dates to the financial crisis of 2008. In 2015, Kresge’s Board of Trustees approved a $350 million impact investing pool to be deployed through 2020. A goal to leverage $1 billion from other investors was surpassed in 2019. We seek to partner with banks, other foundations, and government sources, and frequently partner with Community Development Financial Institutions (CDFIs) and mission‑aligned intermediaries.

We also work with our endowment partners to deploy mission‑related investments (MRIs) from Kresge’s corpus.

To learn more about The Kresge Foundation visit . To learn more about the Social Investment Practice visit .

The Director of Portfolio Management oversees the team managing an existing portfolio of 100+ program related investments held by the foundation in furtherance of its charitable purpose. The team includes a portfolio manager and portfolio analyst who, working closely with the Director, tracking and monitor these investments, managing and projecting cashflow, distilling lessons, anticipating and mitigating problems, and working with individual investees to support investment objectives and investee development.

The Social Investment team at the Foundation prides itself on being committed to impact first. Through their investments, they focus on improving conditions in underserved communities as well as building the capacity of organizations that serve those communities. There is a deep commitment to flexibility in order to meet these goals and the result is an extremely diverse and complex portfolio of investments.

This is an exciting opportunity for an experienced financial professional who is excited about that variety, and passionate about the mission, to have deep impact across the country by focusing on the stability and sustainability of the existing portfolio.

• Provide overall portfolio management of the SIP PRI portfolio, including direct investments, managed funds, guarantees, and many other “impact first” non‑traditional investments.
• Maintain primary responsibility for workouts and troubled assets.
• Cultivate talent and provide day‑to‑day supervision of the portfolio management staff.
• Work with the Finance and Investments team to accurately forecast cash receipts and disbursements.
• Develop sophisticated portfolio management tools to quantify and monitor risk within the portfolio.
• Lead the buildout of new processes and recommend systems and technological improvements to improve management of the portfolio where needed.
• Generate and oversee the creation of monthly and quarterly reports and present relevant material to the executive team and board committee.
• Work with the Managing Director of SIP to develop and monitor Objectives and Key Results.
• Work with external…