Associate, Portfolio Management

Amherst Group; Austin (TX); On-site; USD 140,000 - 210,000; Full time

Benefits offered by this job

Annual bonus

401k match

Flexible PTO & holidays

Parental leave

Job summary

Amherst Group in Austin seeks a Portfolio Modeling and Investor Reporting lead to own fund- and JV-level models, producing distributions and performance narratives for institutional investors.

You will run scenario analyses, ensure model governance, and coordinate inputs across Asset Management, Investor Relations, and Capital Markets to drive data-driven decisions. A CFA or progress is a plus, with 4–7 years in real estate finance and deep Excel skills.

Qualifications

• Bachelor's degree required; CFA (or in progress) a plus.
• 4-7 years in real estate private equity, fund finance, investment banking, or private equity; real estate / fund modeling experience required, SFR or multifamily a plus.
• Deep Excel modeling: multi-entity fund models, DCF, and distribution waterfalls, promote / carried interest, and preferred-return mechanics.
• Working knowledge of JV and fund structures (GP-LP economics, promote tiers, capital accounts, LPA/JV terms).
• Demonstrated experience with variance / attribution analysis and scenario / sensitivity modeling.
• Model governance discipline -- version control, assumption documentation, and QC/reconciliation; comfort being accountable for a model of record.
• Familiarity with real estate capital markets and structured debt a plus.
• Data fluency -- reconciling large actuals exports to models; Python, Power Query, or similar automation a plus to reduce manual error at scale.
• Strong Microsoft Office skills, particularly Excel and PowerPoint; ability to read financial statements and disclosures.
• Ability to interact professionally with institutional investors and distill complex analysis into simple, decision-ready messaging.

Responsibilities

• Own, maintain, and enhance complex fund- and JV-level models, serving as the model of record for investor distributions and returns.
• Model and maintain distribution waterfalls, promote / carried interest structures, preferred returns, and capital accounts across multiple GP-LP and joint-venture arrangements.
• Build and run scenario and sensitivity analyses to support portfolio management decisions and investor discussions.
• Produce period-over-period attribution, isolating the drivers of change so results are explainable and defensible.
• Enforce model governance: version control, assumption documentation, change logs, and reconciliation/QC to ensure accuracy and auditability.
• Reconcile model outputs to actuals - operating performance, cash, debt balances, and investor reporting.
• Partner closely with Asset Management, Investor Relations, FP&A, Acquisitions, Capital Markets/Debt, and Accounting to source inputs, align on assumptions, and drive decisions.
• Model disposition and exit strategy and its impact on distributions, valuation, and timing.
• Provide strategic input on portfolio composition, revenue/expense policy, financing and capital structure, and growth/exit opportunities.
• Amalgamate information across functions to address ad hoc investor requests, and present to senior management on portfolio progression (actual vs. estimate).
• Translate complex model outputs into clear, confident narratives for leadership and institutional investors.

Skills

Excel modeling

Variance analysis

Attribution analysis

Python/Power Query

Financial statements literacy

Investor relations communication

Education

Bachelor's degree

CFA (or in progress)

Tools

Power Query

PowerPoint

Job description

The Amherst Group's companies are comprised of leading real estate investment and advisory firms with a mission to transform the way real estate is owned, financed and managed. Amherst leverages its proprietary data, analytics, technology, and decades of experience to seek solutions for a fragmented, slow-to-evolve real estate ecosystem and to materially improve the experience for residents, buyers, sellers, communities, and investors. Today Amherst has over 1000 employees and $14.1 billion in assets under management. Over the past decade, Amherst has scaled its platform to become one of the largest operators of single-family assets and has acquired, renovated, and leased more than 46,000 homes across 32 markets in the U.S. The firm delivers customized, stabilized cash-flowing portfolios of assets to its investors, wrapped in all the ongoing services required to manage, own, and finance the asset including property management, portfolio management, and a full capital markets team. In addition to its single-family rental platform, Amherst’s debt business pursues two distinct credit strategies in mortgage-backed securities and commercial real estate lending. Over its 25-year history, Amherst has developed a deep bench of research and technology talent, and leverages data and analytics at every stage in the asset lifecycle to improve operations and preserve long-term value for our investors and the more than 188,000 residents the firm has served.

About the Role

Our Portfolio Management team sits at the center of the action, serving as leaders and collaborators with every function across the lifecycle of our investment products. As the general partner across a large set of joint ventures invested in single-family rental (SFR) properties, we are the internal fiduciary for our investors - working across all departments to ensure key analysis, messaging, and strategy result in optimal portfolio performance. This role owns the fund- and JV-level distribution models that serve as the single source of truth for investor economics. The person in this seat is the model owner: they produce the recurring outputs the firm and our investors rely on, coordinate inputs and assumptions across teams, and translate complex model mechanics into clear decisions and narratives. We communicate with leading institutional investors regularly and must articulate our strategy and performance with precision.

Core Outputs You Will Own

• Monthly and quarterly LP and GP distributions across all SFR investment vehicles and JV structures.
• Portfolio management sensitivities - scenario analysis across exit cap rate, rent and expense growth, disposition strategy (retail vs. bulk), leverage, and timing.
• Period-over-period attribution - a clean bridge of what moved and why, decomposed into assumptions, portfolio/operational changes, timing, and financing.

Responsibilities

• Own, maintain, and enhance complex fund- and JV-level models, serving as the model of record for investor distributions and returns.
• Model and maintain distribution waterfalls, promote / carried interest structures, preferred returns, and capital accounts across multiple GP-LP and joint-venture arrangements.
• Build and run scenario and sensitivity analyses to support portfolio management decisions and investor discussions.
• Produce period-over-period attribution, isolating the drivers of change so results are explainable and defensible.
• Enforce model governance: version control, assumption documentation, change logs, and reconciliation/QC to ensure accuracy and auditability.
• Reconcile model outputs to actuals - operating performance, cash, debt balances, and investor reporting.
• Partner closely with Asset Management, Investor Relations, FP&A, Acquisitions, Capital Markets/Debt, and Accounting to source inputs, align on assumptions, and drive decisions.
• Model disposition and exit strategy (retail vs. institutional/bulk) and its impact on distributions, valuation, and timing.
• Provide strategic input on portfolio composition, revenue/expense policy, financing and capital structure, and growth/exit opportunities.
• Amalgamate information across functions to address ad hoc investor requests, and present to senior management on portfolio progression (actual vs. estimate).
• Translate complex model outputs into clear, confident narratives for leadership and institutional investors.

Qualifications

• Bachelor's degree required; CFA (or in progress) a plus.
• 4-7 years in real estate private equity, fund finance, investment banking, or private equity; real estate / fund modeling experience required, SFR or multifamily a plus.
• Deep Excel modeling: multi-entity fund models, DCF, and -- critically -- distribution waterfalls, promote / carried interest, and preferred-return mechanics.
• Working knowledge of JV and fund structures (GP-LP economics, promote tiers, capital accounts, LPA/JV terms).
• Demonstrated experience with variance / attribution analysis and scenario / sensitivity modeling.
• Model governance discipline -- version control, assumption documentation, and QC/reconciliation; comfort being accountable for a model of record.
• Familiarity with real estate capital markets and structured debt (securitizations, warehouse facilities, covenants, refinancing) a plus.
• Data fluency -- reconciling large actuals exports to models; Python, Power Query, or similar automation a plus to reduce manual error at scale.
• Strong Microsoft Office skills, particularly Excel and PowerPoint; ability to read financial statements and disclosures.
• Ability to interact professionally with institutional investors and distill complex analysis into simple, decision-ready messaging.
• Exceptional attention to detail, an ownership mindset, and the ability to coordinate across teams and manage competing deadlines.
• Ability to shift gears with emerging data, think strategically and creatively, and work both independently and as part of a team.

Preferred Experience

• Proven modeling background
• Fund waterfall / promote experience
• SFR or Multifamily exposure preffered

Benefits

• A competitive compensation package
• Annual bonus
• 401k match
• Flexible PTO including 7 paid holidays
• 1 floating holiday
• 1 volunteer day
• Employer-paid benefits (medical, dental, vision, health savings account)
• Professional career development and reimbursement
• Up to 16 weeks paid maternity leave
• Up to 4 weeks of paid parental leave
• Backup childcare offered through Bright Horizons

Amherst is proud to be an Equal Opportunity Employer and committed to creating an inclusive environment for all employees. We do not discriminate on the basis of race, color, religion, national origin, gender, pregnancy, sexual orientation, gender identity, age, physical or mental disability, genetic information or veteran status, and encourage all applicants to apply.

At Amherst, we harness the power of people and technology and leverage decades of experience to transform the way real estate is created, owned, financed, and managed in the U.S. Our team integrates data and analytics firm-wide to bring to market new solutions for the U.S. housing market. We are powered by the most talented, committed, and diverse colleagues in the industry, who drive our inclusive, dynamic culture, and propel our supercharged growth. Join us on our mission to revolutionize how all of us interact with real estate.