Portfolio Manager (Fund of Funds)

Requirements • 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, • This is an opportunity for a high-trajectory investment professional with a genuine passion for investing who wants to build something meaningful, • We're looking for someone who wants to build, both the portfolio and the firm, • 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 experience—understanding 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 markets—intellectually 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 What the job involves • You will report directly to the Chief Investment Officer and serve in a leadership role on the Investment Committee, • 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 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, • Equi accesses managers through a mix of pooled funds, separately managed accounts (SMAs), and swap structures, requiring nuanced navigation of varying liquidity terms, transparency levels, and operational requirements, • As a member of the Investment Committee, you will have a direct voice in capital allocation and strategic direction, • As the funds platform scales and new fund of funds products are developed, there is a clear path to broader responsibility and the potential to lead dedicated strategies, • Near-term focus will center on manager due diligence, portfolio risk, and liquidity management, with increasing ownership of portfolio construction and capital allocation decisions over time, • You'll lead comprehensive due diligence on hedge funds, hybrid strategies, and private credit managers—evaluating 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, • Own the portfolio risk function—developing 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 scenarios—modeling portfolio liquidity under stress conditions and maintaining appropriate liquidity buffers, • Build and maintain risk dashboards including performance attribution, drawdown analysis, and exposure reporting, • Manage liquidity across a complex structure of pooled funds, SMAs, and swap exposures—each 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, • Manage and mentor a junior quant researcher—setting 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, • You'll 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 decisions—evaluating 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