Enstar Group
VP I, Investments- Private Credit & Alternatives New York
Enstar Group, New York, New York, us, 10261
Overview
VP I, Investments – Private Credit and Alternatives. Location: New York (Hybrid). We are open to candidates in the East Coast for remote work; NY Metro area preferred. About you and the role : VP Investments, Private Credit and Alternatives will assist the Head of Alternatives and Non-Core Specialty Mandates in four key areas: 1) Strategy and Pipeline Development, Sourcing, and Investment Due Diligence 2) Ongoing Monitoring of Existing Managers and Investments, 3) Portfolio Management, and 4) Ad-hoc projects, which can include strategic investment opportunities, joint ventures or other opportunities that arise through Enstar’s network. Enstar has managers across the following alternatives and non-core asset classes which make up 30% of $20B+ total investable assets and contribute a significant component of projected investment return, with the remainder managed by core-fixed income managers (which are outside the scope of this role): Alternative Investments: 1) private equity 2) hedge funds 3) private credit 4) real estate equity 5) infrastructure equity Enstar additionally has exposure, to a lesser extent, to the following asset classes, overseen in collaboration between the Alternatives Group and Regional CIOs: Liquid Non-Core: 1) public equity 2) high yield 3) structured products (e.g., CMBS, CLOs) 4) bank loans 5) CLO equity Enstar’s external managers manage assets for 20 global portfolios across US, UK, Bermuda, with the Alternatives and Non-Core Specialty Mandates group responsible for performance of 30+ external managers globally and reporting to the Group Chief Investment Officer. It partners with three regional investment teams, each led by a Regional CIO, who oversee core external managers and certain non-core assets, and coordinate regional asset allocation and compliance. What you will be doing
Primary Responsibilities Provide coverage of external managers and investments across alternative assets and select public equity strategies (e.g., covered call strategies). Lead due diligence, underwriting, and monitoring of private credit investments across sub-strategies including Sponsor/Non-Sponsor Direct Lending, Junior Capital Solutions, Asset-Backed and Specialty Finance, Real Estate Credit, and Credit Special Situations. Evaluate investment opportunities held via Limited Partnerships, Traded and Non-Traded BDCs, Interval Funds, and Rate Note Feeders. Pipeline Development, Sourcing, and Investment Due Diligence Investment Recommendation: Prepare investment memorandums for presentation to investment committee. Sourcing: Research, track, and organize calls with prospective general partners or sponsors for fund and co-investment opportunities. Manager Due Diligence: Create RFPs and conduct due diligence on managers and fund investments; review investment structure and tax implications; determine insurance regulatory capital requirements across jurisdictions; conduct reference calls. Pipeline Development: Develop market maps for alternative and non-core asset classes; maintain an accurate forward fund pipeline; develop peer group comparisons of pipeline managers. Ongoing Monitoring of Existing Managers and Investments Quarterly Monitoring: Maintain coverage, produce quarterly updates, and ensure accuracy of buy/hold/sell ratings. Performance Measurement and Attribution: Evaluate absolute and relative performance against benchmarks and peers. Manager Scorecards: Develop and maintain scorecards of funds, strategies, and managers. Peer Group Analysis: Provide regular peer group performance comparisons for existing and prospective managers/strategies. Investment Data Management: Maintain up-to-date information in internal databases and third-party systems. Portfolio Management Design, prepare, and maintain high-quality reports for alternatives and non-core investments. Monitor activities within the portfolio, including transactions, risk, and performance; assist in negotiations on new investments; coordinate with regional teams and external parties. Develop and update strategic asset allocation, commitment pacing, asset and portfolio NAV, cash flow, gain-loss, and return projection models. Monitor credit risk for private credit investments and perform related analyses. Conduct ongoing portfolio construction, investment allocation, and capital planning; onboard new managers and investments with coordination across teams; ensure systems are updated. Ad-hoc Projects Complete various other special projects as needed. What you will bring
Experience & Education 8+ years in institutional investments focused on identifying, due diligence, and monitoring external managers in relevant strategies. Experience as an investor, portfolio manager, and/or senior research analyst with a focus on alternatives preferred. 3–5 years in an insurance company investment general account, CIO office, asset management, or analysis of insurance portfolios preferred. Prior experience with sourcing, screening, due diligence, monitoring, performance measurement, credit risk analysis, and reporting of private credit is required. Ability to model yield and returns for private credit limited partnerships, BDCs, interval funds, and rate note feeders; consideration of leverage, fees, expenses, expected losses, etc. Co-investment experience with sponsors is a plus. Undergraduate degree required; advanced degree preferred; finance/economics/accounting related fields preferred; CFA/CAIA preferred. Knowledge Solid understanding of investment concepts, markets, and alternatives as listed above; strong statistical concepts and models for investments. Fluency in private credit sub-strategies, fund terms, and credit risk modeling (ratings migration, default, loss given default, recovery). Proficiency in financial statement analysis, NAV, cash flow, and related modelling; expertise in performance measurement and attribution; knowledge of asset allocation and risk-based portfolio construction. Skills/Attributes Genuine interest in investments and alternatives; strong work ethic, attention to detail, and analytical ability. Ability to excel in a fast-paced, complex environment with strong multitasking and organizational skills. Collaborative, with the ability to work with regional teams and leadership; capable of handling large data sets and producing concise reports. Advanced Excel skills are critical; Power Pivot/Power Query/Power BI experience a plus. Excellent written and verbal communication; willingness to travel for due diligence as needed. Compensation and Benefits
The target base salary pay range for this role is $185,000 - $200,000. The full-time equivalent base salary range is based on market data; actual offer depends on location and candidate qualifications. This salary range excludes discretionary incentives. Who we are
Enstar is a global (re)insurance group delivering innovative risk management solutions. We operate across Bermuda, the US, London, Continental Europe and Australia, with a 30+ year history of partnerships and solving complex challenges. Our balance sheet supports $20.3 billion in assets; we partner with Sixth Street for investments. Why choose us?
We offer learning and development opportunities, professional qualification support, access to training and conferences, and a digital learning hub. We invest in wellbeing and strive for an inclusive, diverse workplace. We are an equal opportunity employer and provide accommodations during the application process. Equal Opportunities at Enstar Our Inclusivity Index reflects our commitment to diversity and equal opportunity. We do not discriminate based on protected statuses and provide accessible recruitment. If accommodations are needed, please notify your Enstar Recruitment Partner.
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VP I, Investments – Private Credit and Alternatives. Location: New York (Hybrid). We are open to candidates in the East Coast for remote work; NY Metro area preferred. About you and the role : VP Investments, Private Credit and Alternatives will assist the Head of Alternatives and Non-Core Specialty Mandates in four key areas: 1) Strategy and Pipeline Development, Sourcing, and Investment Due Diligence 2) Ongoing Monitoring of Existing Managers and Investments, 3) Portfolio Management, and 4) Ad-hoc projects, which can include strategic investment opportunities, joint ventures or other opportunities that arise through Enstar’s network. Enstar has managers across the following alternatives and non-core asset classes which make up 30% of $20B+ total investable assets and contribute a significant component of projected investment return, with the remainder managed by core-fixed income managers (which are outside the scope of this role): Alternative Investments: 1) private equity 2) hedge funds 3) private credit 4) real estate equity 5) infrastructure equity Enstar additionally has exposure, to a lesser extent, to the following asset classes, overseen in collaboration between the Alternatives Group and Regional CIOs: Liquid Non-Core: 1) public equity 2) high yield 3) structured products (e.g., CMBS, CLOs) 4) bank loans 5) CLO equity Enstar’s external managers manage assets for 20 global portfolios across US, UK, Bermuda, with the Alternatives and Non-Core Specialty Mandates group responsible for performance of 30+ external managers globally and reporting to the Group Chief Investment Officer. It partners with three regional investment teams, each led by a Regional CIO, who oversee core external managers and certain non-core assets, and coordinate regional asset allocation and compliance. What you will be doing
Primary Responsibilities Provide coverage of external managers and investments across alternative assets and select public equity strategies (e.g., covered call strategies). Lead due diligence, underwriting, and monitoring of private credit investments across sub-strategies including Sponsor/Non-Sponsor Direct Lending, Junior Capital Solutions, Asset-Backed and Specialty Finance, Real Estate Credit, and Credit Special Situations. Evaluate investment opportunities held via Limited Partnerships, Traded and Non-Traded BDCs, Interval Funds, and Rate Note Feeders. Pipeline Development, Sourcing, and Investment Due Diligence Investment Recommendation: Prepare investment memorandums for presentation to investment committee. Sourcing: Research, track, and organize calls with prospective general partners or sponsors for fund and co-investment opportunities. Manager Due Diligence: Create RFPs and conduct due diligence on managers and fund investments; review investment structure and tax implications; determine insurance regulatory capital requirements across jurisdictions; conduct reference calls. Pipeline Development: Develop market maps for alternative and non-core asset classes; maintain an accurate forward fund pipeline; develop peer group comparisons of pipeline managers. Ongoing Monitoring of Existing Managers and Investments Quarterly Monitoring: Maintain coverage, produce quarterly updates, and ensure accuracy of buy/hold/sell ratings. Performance Measurement and Attribution: Evaluate absolute and relative performance against benchmarks and peers. Manager Scorecards: Develop and maintain scorecards of funds, strategies, and managers. Peer Group Analysis: Provide regular peer group performance comparisons for existing and prospective managers/strategies. Investment Data Management: Maintain up-to-date information in internal databases and third-party systems. Portfolio Management Design, prepare, and maintain high-quality reports for alternatives and non-core investments. Monitor activities within the portfolio, including transactions, risk, and performance; assist in negotiations on new investments; coordinate with regional teams and external parties. Develop and update strategic asset allocation, commitment pacing, asset and portfolio NAV, cash flow, gain-loss, and return projection models. Monitor credit risk for private credit investments and perform related analyses. Conduct ongoing portfolio construction, investment allocation, and capital planning; onboard new managers and investments with coordination across teams; ensure systems are updated. Ad-hoc Projects Complete various other special projects as needed. What you will bring
Experience & Education 8+ years in institutional investments focused on identifying, due diligence, and monitoring external managers in relevant strategies. Experience as an investor, portfolio manager, and/or senior research analyst with a focus on alternatives preferred. 3–5 years in an insurance company investment general account, CIO office, asset management, or analysis of insurance portfolios preferred. Prior experience with sourcing, screening, due diligence, monitoring, performance measurement, credit risk analysis, and reporting of private credit is required. Ability to model yield and returns for private credit limited partnerships, BDCs, interval funds, and rate note feeders; consideration of leverage, fees, expenses, expected losses, etc. Co-investment experience with sponsors is a plus. Undergraduate degree required; advanced degree preferred; finance/economics/accounting related fields preferred; CFA/CAIA preferred. Knowledge Solid understanding of investment concepts, markets, and alternatives as listed above; strong statistical concepts and models for investments. Fluency in private credit sub-strategies, fund terms, and credit risk modeling (ratings migration, default, loss given default, recovery). Proficiency in financial statement analysis, NAV, cash flow, and related modelling; expertise in performance measurement and attribution; knowledge of asset allocation and risk-based portfolio construction. Skills/Attributes Genuine interest in investments and alternatives; strong work ethic, attention to detail, and analytical ability. Ability to excel in a fast-paced, complex environment with strong multitasking and organizational skills. Collaborative, with the ability to work with regional teams and leadership; capable of handling large data sets and producing concise reports. Advanced Excel skills are critical; Power Pivot/Power Query/Power BI experience a plus. Excellent written and verbal communication; willingness to travel for due diligence as needed. Compensation and Benefits
The target base salary pay range for this role is $185,000 - $200,000. The full-time equivalent base salary range is based on market data; actual offer depends on location and candidate qualifications. This salary range excludes discretionary incentives. Who we are
Enstar is a global (re)insurance group delivering innovative risk management solutions. We operate across Bermuda, the US, London, Continental Europe and Australia, with a 30+ year history of partnerships and solving complex challenges. Our balance sheet supports $20.3 billion in assets; we partner with Sixth Street for investments. Why choose us?
We offer learning and development opportunities, professional qualification support, access to training and conferences, and a digital learning hub. We invest in wellbeing and strive for an inclusive, diverse workplace. We are an equal opportunity employer and provide accommodations during the application process. Equal Opportunities at Enstar Our Inclusivity Index reflects our commitment to diversity and equal opportunity. We do not discriminate based on protected statuses and provide accessible recruitment. If accommodations are needed, please notify your Enstar Recruitment Partner.
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