iimpact is seeking a portfolio management executive to lead its flagship private equity real estate fund (the fund), whose investment strategy will focus on the preservation and ground-up development of regulated and naturally occurring affordable housing in high-cost-burdened markets with sustainable economic growth.
The SVP of Portfolio Management will report directly to the CEO but will work in partnership with the firm's COO and Head of Finance. The position is responsible for collaborating with our investment partners to manage the successful acquisition, performance, and impact of real estate investments. As an executive of the firm, it is critical that the candidate possesses the vision, passion, and entrepreneurial compass required to understand the complexities associated with a start-up organization. The right leader will have creative freedom to grow their department and the extraordinary responsibility to perform multiple duties in the interim.
About iimpact
iimpact capital (iimpact) is a purpose-driven, real estate fund manager co-investing with women-led operators and developers (our investment partners). Through an innovative ecosystem that utilizes a three-pronged approach - our mission is to create impactful, scalable, and sustainable change for women and minorities in real estate investments.
PRINCIPAL DUTIES AND RESPONSIBILITIES
Investment Management
Manage deal flow
- Collaborate with investment partners to qualify opportunities based on investment strategy criteria
- Oversee deal pipeline and partner attribution
- Lead market research and present risks and opportunities to Investment Committee (IC)
Underwriting review and approval
- Oversee the review of underwriting models by the portfolio manager to ensure the following:
- The deal meets all investment strategy criteria
- The assumptions are logical and achievable
- There are no errors or omissions of information
- The impact criteria are met
- Multiple sensitivity analysis
- Approve underwriting models, co-investment structures, and pursuit costs
Acquisitions/Due Diligence process management
- Oversee the acquisitions process led by the investment partners
- Negotiate LOIs, PSAs, and other legal documents required to acquire a deal on behalf of the fund
- Ensure the timely and cost-effective execution of legal documents, third-party reports, financing, etc.
- Oversee the appointment of vendors, consultants, and professionals within our network to use economies of scale
- Approve and schedule investment business plans
IC memo presentation and recommendation
- Approve investment committee memo received from investment partners
- Lead investment recommendations to IC for approval
Performance & Reporting
Performance Management
- Lead the portfolio manager in the review of portfolio performance
- Identify and mitigate risks and opportunities
- Present innovative approaches to investment execution
Data & Analytics
- Oversee performance metrics and benchmarks to gauge investment performance
- Review and approve updated underwriting models and re-forecast based on the actual trajectory
Reporting
- Review and approve internal monthly portfolio management reports for executive review
- Review and approve quarterly and annual portfolio management reports to investors
- Review and approve GRESB and UNPRI reporting (once applicable)
- Review and approve internal Investment KPIs
Impact Initiatives
- Oversee execution and allocation of resources for the ESG framework
- Oversee proper implementation of ESG initiatives
- Review and approve KPIs based on ESG framework and criteria
Partner Management
Investment partner identification and onboarding
- Identify, review, and approve underwriting of potential investment partners
- Create appropriate partnership structures
Partner management and communication
- Lead investment-related meetings and presentations with investment partners
- Manage investment partner relationships and communication
- Approve partnership structures
Industry representation
- Represent the organization in various industry conferences such as NMHC and ULI
POSITION REQUIREMENTS
Experienced & Skill Set
- Minimum of 8 years related experience in acquisitions, asset management, or/and investment management
- Keen understanding of investment metrics (Cap Rate, CoC, IRR, MOIC, Yield, etc.)
- Proficiency in Microsoft 365 applications and other online tools
- Deep understanding of underwriting models and processes
- Baseline competency in Yardi for property reports and data extraction
- Experience managing people, programs, and processes
- Ability to work independently and proactively
- Ability to be resourceful and tactical
- Ability to travel when needed and work flexible hours
Character Traits
- Strong interpersonal skills to build and nurture relationships with various stakeholders
- Communicate professionally and strategically with internal and external stakeholders
- Lead by example through impeccable responsibility, timing, transparency, and aptitude
Educational Requirements
- Bachelor’s degree from an accredited institution
- Master’s degree (preferred)
We choose our team based on a mission- and value-alignment.
- All investments have an impact on the community; we choose to be intentional about driving regenerative investments that create opportunities for all stakeholders
- We align our vision and strategy to uphold a principled dedication to our values and ethical standards including hard work, honesty, transparency, respect, trust, humility, and care
- We implement diversity of thought and perspective, creating alternative approaches to societal and economic disparities with the goal of improving the outcome for people and the planet
- We are committed to creating fair and equitable opportunities for our communities, our team members, and our investors by creating a sustainable ecosystem that helps to improve the economic disparity gap
- We promote the importance of doing what we love and loving what we do by creating a balanced environment of hard work, enthusiasm, and excitement with camaraderie, collaboration, support, and humor
- We value technical agility in our team members which assists in the efficiency and effectiveness of business operations
The role offers a competitive compensation and benefits package.
