Reports to: Senior Managing Director (Executive Advisory & Research Division)
Wafra Inc. (“Wafra”) is a leading global investment firm currently managing approximately $28 billion in assets and commitments across a variety of asset strategies. Behind our investment strategies are talented professionals, principally in New York and other financial centers, who bring expertise and experience to deliver strategic, reward-focused solutions. Wafra seeks to provide long-term investment return solutions that span not just years, but generations.
The Executive Advisory & Research (“EAR”) team is seeking a Director for immediate hire who will work alongside and report directly to the head of EAR for the department’s residual fund services offering. The EAR team has two core mandates: Internal Strategy and Investment Consulting, where this position will be located.
We play a critical role in helping Wafra’s senior leadership define and drive strategic, operational, and organizational improvements across Wafra. We operate like an internal consulting group working on a range of critical projects and issues. We support firm strategy and development, conduct market research, and surface market insights to promote Wafra’s long-term growth and to achieve sustainable competitive advantage. In collaboration with our partners across the firm, we develop capabilities that strategically differentiate Wafra and deliver outsized results for the firm’s clients. We are at the forefront of Wafra’s fast-moving strategic priorities, addressing operational challenges and enabling innovation.
We think and act like asset owners to develop bold, actionable insights. We partner with sovereign and pension funds, including our parent institution, to address the unique needs of large institutional investors. Together, we craft solutions that optimize investment programs and support everything from program design to capabilities building. Acting first and foremost as thought partners to our clients, we create value by applying practitioner insight and analytical rigor to formulate and deliver solutions that have tangible impact on our clients’ portfolios. Using core capabilities ― strategy, analytics, and communication ― we empower our clients to succeed in the present and build for the future.
Within our Investment Consulting services practice EAR offers solutions to institutional clients for closed-ended fund structures that are at or past the end of the fund’s life and/or require more active management and oversight with a goal towards realizing liquidity and returning capital to our clients. We also provide similar services for gated hedge funds and individual private investments, collectively referring to this business as EAR’s “residual fund services.”
As a valued member of the team, it is essential for the Director to be a collaborative, team player who will take hands-on responsibility and work closely with the head of EAR, as well as with senior members of Wafra’s Legal, Operations, Administrative, and Compliance teams on this growing mandate. The Director will also be expected to contribute to reporting and marketing for EAR’s residual fund services to current and prospective clients. The ideal candidate will have meaningful experience with private equity fund and/or fund-of-funds investing, legal experience relating to closed-ended fund structures, and/or senior fund administration experience for closed-ended funds (i.e., ex-hedge funds) in client-facing roles. Experience with workouts, secondaries, and fund transfers are a strong plus.
Duties and Responsibilities:
• Work closely with other Wafra departments to manage the administrative aspects of transferring closed-ended funds, gated hedge funds, and private investments from clients’ portfolios to EAR’s residual fund vehicles
• Analyze underlying fund investments and develop strategies to achieve liquidity efficiently and effectively, including, when appropriate, negotiating with funds’ general partners and/or pursuing legal actions to enforce investor protections
• Manage all aspects of the secondary sales process for packages backed by multiple underlying funds, including private equity, real estate, private credit and special situations closed-ended funds and gated hedge funds
• Contribute to and oversee timely and effective quarterly client reporting for underlying funds within EAR’s residual fund services offering
• Regularly present status and performance updates to senior Wafra management and current clients, as well as market EAR’s residual fund services to prospective clients
• Perform other duties as assigned
• Bachelor’s degree – advanced degree preferred
• 7-10 years of experience with a pension, endowment, sovereign wealth fund, asset manager, law firm, and/or fund administrator focusing on closed-ended fund investing, workouts, and secondaries
• Knowledgeable of financial statement analysis and fund financial reporting/valuation practices
• Proficiency in Microsoft Office Suite is required
• Excellent organizational, presentation and communication skills
• Strong problem assessment and problem-solving skills
• Ability to work collaboratively in a team environment
• Experience managing teams and multiple work streams simultaneously
Wafra and its subsidiaries (the “Company”) require that new hires be fully vaccinated against the COVID-19 virus, except those individuals who qualify for a medical or a religious accommodation under applicable law. All duties and responsibilities of this role are expected to be conducted on-site at the Company offices. This description reflects management’s assignment of essential functions; it does not proscribe or restrict the tasks that may be assigned. Wafra Inc. is an equal opportunity employer. Wafra Inc. is an equal opportunity employer.
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