Asset & Wealth Management, Multi-Asset Solutions: Portfolio Construction and Manager Research -[...]

The Goldman Sachs Group; New York (NY); On-site; USD 150,000 - 210,000; Full time

Job summary

The Goldman Sachs Group, operating through its Asset & Wealth Management division, seeks a highly analytical investment professional to lead private assets portfolio construction and manager research within MAS. You will design allocations, monitor managers, and support client-focused investment solutions across multi‑asset portfolios.

You will collaborate with research, client teams, and product groups to drive private asset strategies, diligence, and market insights while maintaining rigorous

Qualifications

• 10 years of investment experience in private assets, or multi-asset portfolio management inclusive of private assets.
• Detail-oriented and organized with the ability to manage multiple tasks in a fast-paced environment.
• A self-starter able to work independently and thrive in a team environment.
• Risk management and control orientation.
• Excellent project management skills.
• Excellent writing and communication skills.
• Ability to communicate investment strategies and rationales to audiences of varying levels of sophistication.

Responsibilities

• Portfolio Construction: conduct research on allocations to privates within multi-asset portfolios; develop rules of the road for investing in privates.
• Manager Research & Due Diligence: evaluate private strategies; prepare diligence memos, peer comparisons, and approval materials; monitor approved managers and report findings.
• Secondary Sales: lead MAS' secondary process for legacy private assets; evaluate brokers; identifying client portfolios for a secondary sale.
• Modeling & Assumptions: contribute to private modeling inputs and assumptions; coordinate with Research teams for consistency.
• Client Support: support LPMs on client questions and materials; collaborate with LPMs and PMs to ensure portfolios follow best practices.
• Product & Platform Development: support development of private products; coordinate private asset deployment with LPMs.

Skills

Investment experience

Detail-oriented

Self-starter

Risk management

Project management

Written communication

Oral communication

Job description

Asset & Wealth Management

A career with Goldman Sachs Asset & Wealth Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world's leading asset managers with over $2 trillion in assets under supervision, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and regions, and building meaningful relationships with your clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset & Wealth Management provides clients around the world with a dedicated partnership and focus on long‑term performance. As a primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors and individuals.

Multi-Asset Solutions

Multi Asset Solutions (MAS) is a multi‑asset class investing group that sits within the Asset & Wealth Management business at Goldman Sachs. MAS is responsible for managing customized multi‑asset class portfolios and funds in a discretionary manner for institutional clients. Our clients include US and international corporate and public pension plans, insurance balance sheets, endowments, foundations, healthcare institutions, and sovereign wealth funds. The team is comprised of professionals with deep and varied investment backgrounds who specialize in designing and implementing customized multi‑asset class portfolios. The team applies rigorous techniques to strategic and dynamic asset allocation, asset‑liability analysis, portfolio design and implementation, risk management, and portfolio reporting and analytics. The team has been managing customized multi‑asset class mandates since 1995 as a committed partner to large institutions globally.

Overview

The successful candidate would become a member of our investment team, as part of the Portfolio Construction and Manager Research group within MAS. This role is critical to the continued success of our multi‑asset platform and will coordinate closely with MAS' research and client teams as well as product teams across the Asset & Wealth Management division. Specifically, the role would be responsible for private assets portfolio construction and manager research within MAS. This role is highly analytical and detail‑oriented.

Responsibilities

Portfolio Construction

• Conduct research on how to construct and implement allocations to privates within multi‑asset portfolios. For example: analysis of asset classes and sub‑asset classes including potential benefits and drawbacks, risks and returns; recommended allocations; manager sizing; benchmarking; and commitment pacing.
• Develop "rules of the road" for investing in privates, recognizing MAS has multiple client channels with different objectives and constraints.

Manager Research & Due Diligence

• Evaluate private strategies across GSAM proprietary and external platforms, to identify what strategies from approved lists to include in MAS portfolios.
• Diligence GSAM private asset strategies. Prepare diligence memos, peer comparisons, and approval materials for MAS' Investment Center ("IC")
• Conduct ongoing monitoring of approved managers (performance, risk, attribution, organizational changes), report regularly on findings to key stakeholders, and recommend actions as needed.

Secondary Sales

• Lead MAS' secondary process for legacy private assets.
• Evaluate potential brokers, developing and carrying out RFIs
• Identifying client portfolios and investments suitable for a secondary sale

Modeling & Assumptions

• Contribute to private modeling inputs and assumptions (e.g., expected returns, volatility, correlations, implementation structure)
• Partner with Research teams to ensure consistency of private assumptions across MAS.

Client Support

• Support LPMs on client‑specific questions and issues, such as understanding and following rules of the road, conducting new research when new client situations demand, and supporting in the development of client materials such as Investment Committee materials and RFPs.
• Partner with LPMs and PMs to ensure portfolios follow best practices where appropriate, and document where deviations occur.

Product & Platform Development

• Support development and evolution of private products (e.g., building block funds, private asset vehicles), including portfolio design and supporting materials.
• Coordinate private asset deployment by working with LPMs to identify clients for specific funds and drive new commitments to completion.

Qualifications

• 10 years of investment experience in private assets, or multi‑asset portfolio management inclusive of private assets
• Detail‑oriented and organized with the ability to manage multiple tasks in a fast‑paced environment
• A self‑starter able to work independently and thrive in a team environment
• Risk management and control orientation
• Excellent project management skills
• Excellent writing and communication skills
• Ability to communicate investment strategies and rationales to audiences of varying levels of sophistication