Research Analyst

First Trust Capital Management L.P.; Chicago (IL); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Health & Wellness insurance

401(k) with company match

Paid Time Off

Job summary

First Trust Alternative Investment Research (FT AIR) in Chicago seeks a Research Analyst to support due diligence across hedge funds, private equity, real estate, and private credit. You will perform qualitative and quantitative analyses of managers and strategies, interact with managers, and prepare written notes for the investment team.

The role emphasizes strong analytical and communication skills, with exposure to internal investment processes and a collaborative research team of about 20.

Qualifications

• 0–2 years of relevant work experience in investment banking, asset management, or related field
• Excellent undergraduate academic record
• Interest in or progress toward the CFA designation a plus
• Interest in understanding hedge fund, private equity, private credit, and real estate strategies
• Effective communicator, both written and verbal
• Strong grasp of statistics used in financial analysis
• Demonstrated analytical/quantitative skill
• Passion for the alternative asset management industry
• Willingness to travel domestically and internationally up to 25% of the time

Responsibilities

• Perform qualitative and quantitative assessments of alternative investment managers and strategies
• Participate in calls and meetings with existing and prospective alternative asset managers
• Compile and distribute formal written notes related to investment meetings
• Function as a point of contact for the investment team with portfolio investments
• Perform ad hoc statistical analyses of fund risk exposures
• Support the creation of broader investment committee recommendations
• Lead maintenance of firm and fund materials for existing investments
• Provide analytical support to evaluate client portfolio performance
• Improve due diligence workflows and processes
• Provide operational and investment support for internally managed portfolios
• Assist in ad hoc research projects related to new product development
• Participate in creating market/industry commentary for marketing
• Support sourcing of new liquid and alternative investment strategies

Skills

Analytical skills

Quantitative analysis

Statistical knowledge

Communication skills

CFA interest

Travel willingness

Education

Undergraduate degree

Tools

Bloomberg

Morningstar

Preqin

eVestment/Pertrac

LightKeeper

Enfusion

Job description

The Research Analyst role at First Trust Alternative Investment Research (“FT AIR”) is focused on supporting all aspects of the investment due diligence efforts with respect to the firm’s alternative investment mandates. FT AIR focuses on executing fund and direct investments across the entire alternative investment market including hedge fund, private equity, venture capital, real estate, and private credit investments. The Research Analyst engages in detailed qualitative and quantitative analysis of a range of alternative investments and is responsible for conveying their findings effectively to the firm’s broader investment team. This role requires analytical and technical skills as well as verbal and written communication skills. The Research Analyst role sits within the twenty-person investment research team of FT AIR and has a summer 2026 start date.

• Perform qualitative and quantitative assessments of alternative investment managers and strategies
• Participate in calls and meetings with existing and prospective alternative asset managers
• Compile and distribute formal written notes related to existing and potential investment meetings
• Function as a point of contact for the investment team with prospective and existing portfolio investments
• Perform ad hoc statistical analyses of fund risk exposures
• Support the creation of broader investment committee recommendations
• Lead the effort to maintain updated firm and fund materials with respect to existing investments
• Provide analytical support to evaluate existing client portfolio investment performance
• Responsible for maintaining and improving current investment due diligence work‑flow processes
• Provide operational and investment support for internally managed portfolios
• Assist in various ad hoc research projects related to new product development
• Participate in the creation of market/industry commentary for firm marketing efforts
• Support the sourcing of new liquid and alternative investment strategies

Qualifications

• 0‑2 years of relevant work experience in investment banking, asset management, or related field
• Excellent undergraduate academic record
• Interest in or progress toward the CFA designation a plus
• Interest in understanding hedge fund, private equity, private credit, and real estate strategies
• Effective communicator, both written and verbal
• Strong grasp of statistics used in financial analysis
• A demonstrated high level of analytical/quantitative skill
• Passion for the alternative asset management industry
• Ability to manage simultaneous projects, often with time constraints
• Self‑motivated and highly curious
• A willingness to travel both domestically and internationally up to 25% of the time

Technical/Systems Skills

• Proficient in: Microsoft Excel, Power Point, and Word
• Experience with: Bloomberg, Morningstar, Preqin, eVestment/Pertrac, LightKeeper, Enfusion a plus

Benefits

• Health & Wellness: Comprehensive medical, dental, and vision insurance
• Retirement: 401(k) with up to 4% company match
• Paid Time Off (PTO): Flexible Leave Policy

Investment due diligence covers all asset classes and strategies, wherein the Research Team maintains a proprietary database of portfolio managers and all related correspondence. Importantly, the Research Team does not perform database screens to identify prospective portfolio managers. The vast majority of currently sourced funds and strategies have come through our extensive network and reach within the investment community as opposed to any screening process. We perform ongoing due diligence on our approved managers to ensure that are adhering to their style, process and investment mandate.