Job Title:  Portfolio Manager - Fund of Funds, Private Credit - Executive Director

The pay range for this position at commencement of employment is expected to be between $220K and $300K/year*

Company overview

Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Management. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.

Aon’s Benefit Index®, Nomura’s benefits rank #1 amongst our competitors

As part of its efforts to expand its investment management business in the Americas and enhance its overall offering, Nomura Holding America Inc. has established a new business line – Nomura Private Capital (NPC). NPC will focus on providing RIAs and their clients with access to private markets. The first strategy to be brought to market will focus on providing a diversified exposure to private credit sectors, likely leveraging the closed-end interval fund structure. Additional products/strategies will be developed in other private markets such as real estate, infrastructure, private equity or venture capital (e.g., potentially including non-traded REIT/BDCs, open/closed-end private funds or similar structures).

Primary Responsibilities
The initial focus of this role will require the candidate to actively lead and manage the day-to-day portfolio management (including portfolio construction and implementation) of a Private Credit Fund of Funds vehicle, and the relevant research initiatives necessary for driving performance.  The candidate will be responsible for contributing to the investment strategy decisions of the fund - regarding asset allocation, portfolio construction and manager selection.  The investment strategy will initially focus on a diversified manager and diversified market approach to private credit, and will require the candidate to have experience managing similar types of portfolios, experience with manager selection, and an understanding of a range of markets, investment vehicles and private credit strategies held in the fund. 

In addition to portfolio management responsibilities, the candidate will participate in due diligence visits, calls with portfolio managers and research analysts as part of the manager selection process for the external managers.  Additionally, as a key team member and contributor in a fast growing business, the candidate will help shape strategic decisions for the growth objectives for the entire Alternatives platform through ad hoc research, project management, and interdepartmental collaboration.

• Daily portfolio management/implementation duties include risk monitoring, exposure analysis, performance attribution, cash and “calendar” management, as well as monitoring and managing fund NAV, daily cash flows, margin requirements, etc.
• Conduct comprehensive quantitative analysis and research on markets / managers in multiple asset classes.
• Sourcing, screening, and analyzing investments in private funds (and co-investments/secondaries); Assisting in term structuring and legal evaluations
• Participate in due diligence and assessment of primary, co-investment and opportunistic investments
• Conduct quantitative and qualitative analysis to assess the opportunity set and key risks for various private market and alternative strategies over time to help inform portfolio management decisions.
• In all of these activities, the candidate will collaborate with teams both internally and externally and across functions - Risk Management, Legal, Compliance, Data providers, Distribution partners, Counterparties, Fund Managers, and Technology, etc.
• Develop new discretionary product initiatives including fund of funds, co-investment programs, separately managed accounts, and custom portfolios
• Lead implementation of investment allocation decisions for discretionary alternative investment products in partnership with the manager research team and CIO
• Oversee development and production of investment materials and communications to clients (e.g., marketing decks, roadshows, blogs, etc)
• Build internal and external relationships to help drive product development, idea generation, and investment performance.
• Manage and mentor junior team members
• Collaborate effectively with team members and stakeholders both internal and external
   

Skills and experience we are looking for

At least 10 years of professional experience in portfolio management, including relevant experience in private markets and alternatives manager selection, and ideally some experience with private credit co-investments and secondaries.

• Prior experience in Private Credit is required – direct investment experience is a plus, as is co-investment and/or secondary transactions.  Private equity, real estate, and hedge fund investment experience is also beneficial, but not required.
• Experience as a Private Markets LP (private equity fund of funds, institutional investor, private equity consultant, etc.) or experience at a private credit investment firm is highly desirable. 
• Understanding of portfolio construction theory, financial and credit analysis, valuation and primary fundamental research, and their application in investment decisions and transaction structuring is a plus.  Understanding of macroeconomic theory/policy is desirable but not required.
• Demonstrated capacity to learn and develop broad expertise, including working knowledge of: alternative investment strategies; the financial instruments employed globally therein; valuation approaches across securities and derivatives. Experience in any relevant aspect is a plus, but not required.
• Portfolio implementation and asset allocation experience; understanding of how Alternatives fit within broader multi-asset class portfolios
• Understanding of, and ideally some experience managing, public market fixed income/ETFs/equities.
• Strong intellectual curiosity and a passion for investing.  Demonstrated orientation toward and interest in understanding financial markets and investment management.
• Data driven mindset with strong quantitative and technical skills.
• Strong verbal and written communication skills.
• Strong attention to detail, sense of accountability and dedication to continuous improvement.
• Strong organizational skills and the demonstrated ability to work productively and efficiently in a fast-paced environment with multiple projects, priorities, and deadlines
• BS/BA in finance, accounting, mathematics, statistics, engineering or related field required; Master’s Degree preferred
• At least 10 years of relevant work experience
• Advanced facility with Excel/Word/PowerPoint, and Python (or equivalent)

*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience.

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors”.

Nomura is an Equal Opportunity Employer