Senior Private Markets Investment Analyst

Morningstar Investment Management, LLC; Chicago (IL); On-site; USD 148,000 - 226,000; Full time

Benefits offered by this job

401k match up to 6%

Stock ownership potential

Company-provided life insurance

Extensive health benefits

Wellness incentives

Disability insurance

Sabbatical program

Job summary

Morningstar Investment Management, LLC in Chicago seeks an Investment Analyst to lead due diligence and research on private markets used in multi-asset portfolios. You will cover private equity, private credit, infrastructure, and real assets, evaluating how these vehicles should be sized and integrated into long-horizon portfolios.

The role favors independent thinkers who defend their views, with strong written communication and exposure to Python and Excel.

Qualifications

• Bachelor’s degree in finance, economics, or a quantitative discipline with 5+ years, or a graduate degree with 2+ years.
• Experience in multi-asset portfolio management.
• Due diligence and research on private investment vehicles at major institutions.
• Knowledge of private equity, private credit, infrastructure and real assets; risk/return dynamics.

Responsibilities

• Research opinions on private markets for multi-asset portfolios; focus on private markets and semiliquid vehicles.
• Source, evaluate and recommend opportunities across private equity, private credit, infrastructure, and real assets.
• Lead due diligence and financial analysis including cash flow, liquidity, and valuation modeling.
• Develop protocols to evaluate and allocate to private vehicles for long-horizon portfolios.
• Monitor fund performance and liquidity; conduct meetings with asset managers.
• Be SME on portfolio construction, investment modeling, and risk for private markets.
• Collaborate with product and distribution teams to align research with business needs.

Skills

Multi-asset PM experience

Due diligence research

Private markets knowledge

Stats & econometrics

Excel

Python

Clear communication

Cross-location collaboration

Education

Bachelor’s degree in finance/economics or quantitative discipline

Graduate degree (MBA/ MSc)

Tools

PitchBook

Job description

Morningstar Investment Management, LLC in Chicago seeks an Investment Analyst to lead due diligence and research on private markets used in multi-asset portfolios. You will cover private equity, private credit, infrastructure, and real assets, evaluating how these vehicles should be sized and integrated into long-horizon portfolios.

The role favors independent thinkers who defend their views, with strong written communication and exposure to Python and Excel.