Location Designation: Fully Remote
THE ORGANIZATION
New York Life Real Estate Investors (“NYLREI”), as part of New York Life Investment Management, is one of the country’s largest asset management firms, with nearly $70 billion in AUM. The platform invests in real estate private equity, commercial mortgages, and debt securities.
THE POSITION
The Managing Director of Business Development will be based in NYLREI’s San Francisco or New York offices (other locations will be considered depending on the professional). The primary focus for this individual is growing NYLREI’s open-end, core fund, known as the NYL Madison Core Property Fund (MCPF). The individual will be primarily responsible for sourcing, cultivating, and closing new client relationships geared specifically toward growing AUM.
The candidate should be a seasoned fund raising professional with a broad range of institutional investor relationships complemented by a solid foundation in commercial real estate investment fundamentals. The individual should have active, quality relationships with both investment consultants and institutional investors (emphasis on domestic relationships).
DUTIES AND RESPONSIBILITIES:
The key responsibilities for the role will be as follows:
- Maintain current relationships and cultivate new relationships with institutional investors (including public and private pension funds, Taft-Hartley funds, insurance companies, private wealth managers, endowments, and foundations) with the specific goal to grow MCPF.
- Build and maintain consultant relationships to build the knowledge and reputation of the Firm and the MCPF. Coverage will include individuals in research, field, senior management, and any other position that may help influence the relationship.
- Attend fund presentations with Portfolio Manager.
- Support with investor RFPs, as needed.
- Maintain knowledge of all the firm’s products and strategies with an emphasis on the Madison Core Property Fund.
- Support with MCPF client requests and portfolio update meetings.
- Ongoing interaction with the Madison Core Property Fund team to ensure that fund strategy is consistently maintained.
CANDIDATE QUALIFICATIONS / EXPERIENCE
The successful candidate will have the following career experience:
- College degree from an accredited university.
- MBA or Master’s Degree in real estate or related discipline is preferred.
- 10+ years of in-depth experience in capital fund raising.
- Large rolodex of U.S. institutional investors and consultants.
- Relationships with primary consultants that service institutional investors investing in commercial real estate.
- A track record of success in winning new business and forging relationships with investors and consultants.
- Strong technical real estate skills including operating fundamentals and capital markets.
- Sound ability to present and discuss investment matters and strategies without portfolio manager support.
- Must have desire, energy, and willingness to spend a significant amount of time out of the office meeting face-to-face with clients, consultants et.al. Must be highly organized, motivated, and able to source and manage a full list of relationships.
- The successful candidate will bring a current, state-of-the-art institutional quality industry perspective and experience to this position.
The successful candidate will have the following personal attributes and characteristics:
- Highly motivated with a strong record of academic and professional achievement.
- Strong relationship builder, both externally within the marketplace and internally within the firm.
o Willingness and ability to collaborate with other members of the NYLREI team. The company draws upon the relevant expertise of all the NYLREI team and expects the team to collaborate openly to achieve the best results.
o Will be able to hold their own in a fast- paced, intellectually challenging environment. Can defend their decisions and views while still admitting areas of uncertainty.
- Motivated, self starter. Very highly developed organizational skills.
- Strong communications skills, both written and verbal. An open communicator/”team player” rather than “close to vest” person will succeed best in the firm’s environment.
- Excellent presentation skills. Thoughtful listener. Direct and open communication style. Has presence that commands respect in the industry and within NYLREI.
- Adheres to the NYLREI values and culture of commitment, collaboration, drive towards excellence, honesty, integrity, respect for others and trust.
Pay Transparency
Salary Range:
Overtime eligible: Exempt
Discretionary bonus eligible: No
Sales bonus eligible: Yes
Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Our Diversity Promise
We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.
Job Requisition ID: 91561
