Director-Private Market Investments
Req ID 33452 Title Director-Private Market Investments City Indianapolis State / Province Indiana Country United States Workplace Arrangement Local Company Overview At Lilly, we unite caring with discovery to make life better for people around the world. We are a global healthcare leader headquartered in Indianapolis, Indiana. Our 39,000 employees around the world work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to our communities through philanthropy and volunteerism. We give our best effort to our work, and we put people first. We're looking for people who are determined to make life better for people around the world.
Responsibilities Lilly's Benefit Plan Investment Team provides critical investment, fiduciary, controllership and cash management oversight for $16 billion of assets residing in independent trusts that support employee pensions, savings plan accounts and retirement health benefits. The coordination of these activities is managed through relationships with over 40 external partners that provide investment, consulting, custodian, reporting, accounting, legal and other services. In addition to investment oversight, this team is responsible for the development of funding strategies, liability risk management, regulatory compliance and liaison with global HR, actuaries and consultants as needed.
The Investment Director of Private Markets will report to the Chief Investment Officer and Assistant Treasurer. He/she will support the development of strategies/identification of opportunities and directly own the day-to-day activities to manage the $4 billion of investments across the private equity and hedge funds in the retirement trust. He/she will also partner with the Director of Public Markets for Retirement Plan on strategic asset allocation considerations and other projects that span the broader $9B Retirement Plan Trust.
Manage the existing $1.3 billion private equity, real estate and debt investments across 90 limited partnership investments with 15 general partner relationships. Act as the Lilly representative on various GP Advisory Boards where applicable. Meet frequently with most active/material GPs to monitor portfolio, understand performance and fees, ensure compliance with agreements and ERISA practices and identify new investment opportunities. Leverage additional resources, attendance at annual meetings and peer networks (i.e., ILPA) to supplement this work.
Actively contribute to the strategy development for an increased policy allocation to private markets. This will include the analysis of the current portfolio construction and the development of recommendations on initial gaps and opportunities for new investments and new GP relationships.
Conduct independent valuation of proposals submitted by private equity GPs for possible inclusion in the program. Analysis should encompass a GP's unique investment characteristics, comparison to similar proposals, track record, fund terms and conditions, and alignment with Lilly's private market portfolio goals. Formal due diligence will be done in partnership with another member of the team and will include on-site visits, operational reviews and third party references. Co-investment opportunities and other opportunistic structures with existing partners should be considered. Oversee structuring of investments from a legal and financial perspective and leverage experience in negotiations of provisions/fees.
Manage the existing $2.4 billion hedge fund portfolio with direct and custom fund of fund relationships. Meet frequently with partners and market experts to stay on top of trends and identify opportunities.
Actively contribute to the strategy development to modify the hedge fund portfolio and re-evaluate the composition, service providers and implementation tactics.
33452BR Basic Qualifications
Bachelor's Degree in Finance, Accounting, Economics, Engineering or similar analytical/quantitative field; MBA or Masters and/or CFA is highly desirable.
Minimum of 10 years of experience in institutional investment management, preferably at a pension, endowment or foundation.
Minimum of 5 years of experience in the due diligence, selection, monitoring and management of private market investments (private equity, private debt, private real estate, hedge funds, etc.).
Qualified candidates must be legally authorized to be employed in the United States. Lilly does not anticipate providing sponsorship for employment visa status (e.g., H-1B or TN status) for this employment position.
Additional Skills/Preferences
Proven capacity for independent thought and decision making.
Direct experience in the construction of an asset portfolio with the authority to add or replace institutional investment funds.
Strong analytical, quantitative and interpersonal skills with ability to work independently and in a team.
Detail-oriented individual with keen focus on performance and results.
Excellent written and oral communication and presentation skills.
Deep industry knowledge of investment strategies, investment instruments, investment firms, capital market developments and existing private market investor networks
Self-starter that nurtures and develops numerous external relationships and leverages best practices.
Additional Information
Moderate travel is expected, 15-20%.
Role is based in Indianapolis.
Minimum 5 year commitment to this role while at Lilly
Lilly is an EEO/Affirmative Action Employer and does not discriminate on the basis of age, race, color, religion, gender, sexual orientation, gender identity, gender expression, national origin, protected veteran status, disability or any other legally protected status.
. Apply now!Estimated Salary: $20 to $28 per hour based on qualifications.
Responsibilities Lilly's Benefit Plan Investment Team provides critical investment, fiduciary, controllership and cash management oversight for $16 billion of assets residing in independent trusts that support employee pensions, savings plan accounts and retirement health benefits. The coordination of these activities is managed through relationships with over 40 external partners that provide investment, consulting, custodian, reporting, accounting, legal and other services. In addition to investment oversight, this team is responsible for the development of funding strategies, liability risk management, regulatory compliance and liaison with global HR, actuaries and consultants as needed.
The Investment Director of Private Markets will report to the Chief Investment Officer and Assistant Treasurer. He/she will support the development of strategies/identification of opportunities and directly own the day-to-day activities to manage the $4 billion of investments across the private equity and hedge funds in the retirement trust. He/she will also partner with the Director of Public Markets for Retirement Plan on strategic asset allocation considerations and other projects that span the broader $9B Retirement Plan Trust.
Manage the existing $1.3 billion private equity, real estate and debt investments across 90 limited partnership investments with 15 general partner relationships. Act as the Lilly representative on various GP Advisory Boards where applicable. Meet frequently with most active/material GPs to monitor portfolio, understand performance and fees, ensure compliance with agreements and ERISA practices and identify new investment opportunities. Leverage additional resources, attendance at annual meetings and peer networks (i.e., ILPA) to supplement this work.
Actively contribute to the strategy development for an increased policy allocation to private markets. This will include the analysis of the current portfolio construction and the development of recommendations on initial gaps and opportunities for new investments and new GP relationships.
Conduct independent valuation of proposals submitted by private equity GPs for possible inclusion in the program. Analysis should encompass a GP's unique investment characteristics, comparison to similar proposals, track record, fund terms and conditions, and alignment with Lilly's private market portfolio goals. Formal due diligence will be done in partnership with another member of the team and will include on-site visits, operational reviews and third party references. Co-investment opportunities and other opportunistic structures with existing partners should be considered. Oversee structuring of investments from a legal and financial perspective and leverage experience in negotiations of provisions/fees.
Manage the existing $2.4 billion hedge fund portfolio with direct and custom fund of fund relationships. Meet frequently with partners and market experts to stay on top of trends and identify opportunities.
Actively contribute to the strategy development to modify the hedge fund portfolio and re-evaluate the composition, service providers and implementation tactics.
33452BR Basic Qualifications
Bachelor's Degree in Finance, Accounting, Economics, Engineering or similar analytical/quantitative field; MBA or Masters and/or CFA is highly desirable.
Minimum of 10 years of experience in institutional investment management, preferably at a pension, endowment or foundation.
Minimum of 5 years of experience in the due diligence, selection, monitoring and management of private market investments (private equity, private debt, private real estate, hedge funds, etc.).
Qualified candidates must be legally authorized to be employed in the United States. Lilly does not anticipate providing sponsorship for employment visa status (e.g., H-1B or TN status) for this employment position.
Additional Skills/Preferences
Proven capacity for independent thought and decision making.
Direct experience in the construction of an asset portfolio with the authority to add or replace institutional investment funds.
Strong analytical, quantitative and interpersonal skills with ability to work independently and in a team.
Detail-oriented individual with keen focus on performance and results.
Excellent written and oral communication and presentation skills.
Deep industry knowledge of investment strategies, investment instruments, investment firms, capital market developments and existing private market investor networks
Self-starter that nurtures and develops numerous external relationships and leverages best practices.
Additional Information
Moderate travel is expected, 15-20%.
Role is based in Indianapolis.
Minimum 5 year commitment to this role while at Lilly
Lilly is an EEO/Affirmative Action Employer and does not discriminate on the basis of age, race, color, religion, gender, sexual orientation, gender identity, gender expression, national origin, protected veteran status, disability or any other legally protected status.
. Apply now!Estimated Salary: $20 to $28 per hour based on qualifications.
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