About the Foundation

The Kresge Foundation is one of the top 20 private philanthropic foundations in the United States and the only one focused exclusively on expanding opportunities for people with low income in American cities. With an endowment of approximately $4 billion and a staff of over 100 employees, the foundation deploys grants and social investments across arts and culture, education, environment, health, human services and community development. The foundation’s state-of-the-art headquarters maintains an array of energy-efficient, water-conserving and health-promoting systems. The foundation also operates an office in Detroit’s Midtown district.

About the position

The Associate Investment Director reports directly to the Managing Director of Public Markets and works in conjunction with Investment Staff to oversee the management of the Foundation’s assets.

Responsibilities include sourcing new investment ideas, performing quantitative and qualitative due diligence, monitoring existing managers and creating investment recommendations to continuously improve the portfolio.

A successful candidate will have a demonstrable passion for investing, deep intellectual curiosity, and a strong quantitative background. They will be a collaborative teammate, enthused by the mission of the Foundation.

 Primary responsibilities

• Assists in the development of strategy for select asset classes, providing fundamental and quantitative analysis, including for biennial asset class strategy sessions.
• Sources, screens and conducts detailed due diligence on compelling investment opportunities.
• Assists in constructing select asset classes by determining portfolio fit for each manager or strategy recommended.
• Performs rigorous quantitative and qualitative due diligence on prospective and existing investments.
• Meets with assigned managers and provides written ongoing analysis on these managers.
• In conjunction with the Risk and Operations leader, reviews legal documents, fee agreements, and fund terms with prospective and current managers and negotiates as necessary.
• Leads, coordinates and contributes to the production of quarterly updates on the Foundation’s portfolio as well as Investment Committee materials.
• Generates reports and supporting material for investment staff, finance staff and Investment Committee such as evaluation of the macro investment environment, economic trends, risk management assessment, or any other area where data analysis and summation is critical to the process.
• Mentors investment analysts, including training and onboarding first year analysts.
• Demonstrates a strong commitment to the Foundation's vision and values in daily interactions with all Staff, the Board of Trustees and external stakeholders.
• Exhibits a clear commitment to operationalizing Diversity, Equity and Inclusion (DEI) within the Foundation by actively participating in Foundation initiatives, working groups, dialogues, and championing the investment team’s DEI work both internally and externally.
• Promotes a positive, collaborative climate for the office and supports a culture of excellence, continuous improvement, continuous learning, and teamwork.
• Performs other duties as assigned.

Qualifications

• BA/BS degree in finance or related area with a deep interest in investing, or equivalent work experience.
• Five to eight years of relevant work experience.
• Excellent analytical and quantitative skills.
• Strong writing, verbal, and interpersonal skills.
• Strong attention to detail.
• Extensive knowledge of Windows-based spreadsheet (including modeling) and word processing software (Microsoft Office family of products).
• Displays a consistently collaborative and cooperative work style.
• Strong alignment with Kresge’s mission.

TO SEE THE FULL JOB DESCRIPTION AND TO APPLY CLICK HERE

The application deadline for this position is Midnight EST on December 4, 2024. Please attach a cover letter for consideration for this position. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.

This position is located in Troy, Michigan and currently has a hybrid schedule. Tuesday and Wednesday are the standard in-office days, however, there may be times when you will have to adjust the days based on work needs. 

 This position requires occasional travel for foundation activities, events and professional development activities.

Some of the benefits include:

• Health, dental, vision and life insurance
• Paid time off
• Half day Fridays
• 401k with employer matching
• Tuition reimbursement
• Life, accident and disability insurance
• Comprehensive relocation package for qualified candidates

Kresge is proud to be an Equal Employment Opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ applicants. We do not discriminate based upon race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability or other applicable legally protected characteristics.