Portfolio Manager, Fund of Funds Job at Equi, New York, NY

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  • Equi
  • New York, NY

Job Description

Investment Professional Opportunity

Equi is seeking a high-trajectory investment professional with a genuine passion for investing who wants to develop alongside a rapidly growing firm building differentiated products in the alternatives space. You will report directly to the Chief Investment Officer and serve in a leadership role on the Investment Committee.

This role combines rigorous manager due diligence with portfolio construction, risk management, and team leadership, offering a clear path to expanded responsibility as the platform grows.

You will work closely with the CIO to source, underwrite, and monitor hedge fund managers while contributing to portfolio construction and optimization decisions. You will also manage a junior quant researcher, directing analytical projects and developing talent as part of building out the investment team. As a member of the Investment Committee, you will have a direct voice in capital allocation and strategic direction. This is an opportunity for a high-trajectory investment professional with a genuine passion for investing who wants to build something meaningful.

Manager Selection & Due Diligence

Lead comprehensive due diligence on hedge funds, hybrid strategies, and private credit managersevaluating investment edge, team quality, risk management, and operational infrastructure

Source proprietary deal flow through industry relationships and systematic market mapping

Develop and present investment recommendations to the CIO and Investment Committee with clear thesis articulation and risk assessment

Build and refine data-driven frameworks for manager evaluation and selection

Monitor existing manager relationships through regular engagement, performance evaluation, and strategic alignment reviews

Portfolio Risk

Own the portfolio risk functiondeveloping and maintaining risk frameworks, factor exposure analysis, and concentration monitoring across the fund of funds

Design and execute stress testing scenarios including liquidity stress tests, market drawdown simulations, and correlation breakdown analysis

Manage gate risk and redemption queue scenariosmodeling portfolio liquidity under stress conditions and maintaining appropriate liquidity buffers

Build and maintain risk dashboards including performance attribution, drawdown analysis, and exposure reporting

Liquidity & Operations

Manage liquidity across a complex structure of pooled funds, SMAs, and swap exposureseach with distinct redemption terms, notice periods, and operational requirements

Track and forecast cash positioning across fund structures, ensuring redemption capacity aligns with investor terms and subscription/redemption cycles

Coordinate with fund administrators, custodians, and swap counterparties on operational execution

Team Leadership

Manage and mentor a junior quant researchersetting priorities, directing analytical projects, and developing their capabilities

Define research agenda and delegate quantitative analysis, data projects, and manager screening tasks

Build team processes and infrastructure as the investment team scales

Assist

Serve as a member of the Investment Committee, contributing to portfolio construction, manager sizing, strategy allocation, and risk budgeting decisions

Develop capital allocation recommendations and flag rebalancing considerations based on evolving conviction levels and portfolio needs

Partner with the CIO on vehicle selection decisionsevaluating trade-offs between pooled funds, SMAs, and swaps based on liquidity needs, transparency requirements, and fee structures

Collaborate with product and engineering on proprietary tools for portfolio management, risk analytics, and liquidity forecasting

Collaborate with legal and compliance on governance frameworks for manager relationships and investment vehicles

Support sales and client-facing teams with investment insights, risk reporting, and due diligence materials

Represent the firm with managers, allocators, and industry stakeholders

Contribute to new product development initiatives as the platform expands

Knowledge

5+ years of experience in hedge fund allocation, either as an allocator (fund of funds, endowment, pension, family office) or in a senior advisory/consulting role

Track record of successful manager evaluation and investment recommendations

Deep understanding of hedge fund strategies, fund structures, liquidity terms, and operational requirements across pooled vehicles, SMAs, and swap structures

Strong liquidity management experienceunderstanding of fund-level redemption terms, notice periods, gates, lock-ups, and how to construct portfolios that balance return optimization with liquidity needs

Experience with portfolio risk management including stress testing methodologies, scenario analysis, and managing through periods of market stress or fund-level gates

Investment operations knowledge including subscription/redemption processes, NAV reconciliation, capital call management, and coordination with fund administrators and custodians

Experience with portfolio analytics, factor analysis, and performance attribution

Prior experience managing or mentoring junior team members

Strong AI proficiency, ability to leverage AI tools to enhance research, analysis, and workflow efficiency

Strong analytical capabilities and ability to synthesize complex information into actionable recommendations

Excellent communication skills, able to articulate investment theses and risk considerations clearly to both sophisticated investors and internal stakeholders

Genuine passion for investing and marketsintellectually curious, always learning, and deeply engaged with investment ideas

Master's degree in Finance, Economics, or related quantitative field preferred

CFA or CAIA designation a plus

Trading experience a plus, particularly for management of portable alpha or overlay strategies

Strong technology aptitude; coding or data analysis experience a plus

Equi

Job Tags

Work at office

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