Impact Investment Portfolio Manager
Portfolio Manager, Impact Investing
Alternative Investments Team, Investment Management, Massachusetts Mutual Life Insurance Company
Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We’re people helping people.
A career with us means you will work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are the foundation of what makes MassMutual a strong, stable and ethical business. We seek and value unique and varied perspectives and experiences because we believe we are stronger when all voices are heard. We invite you to bring your bright, innovative ideas to MassMutual as we continue to help millions of Americans rely on each other.
Together, we’re stronger.
MassMutual’s vision is that everyone across America achieves financial well-being, however the stark reality is that millions of Americans live in financial deserts, surviving paycheck to paycheck and are one emergency away from not being able to meet their most basic needs. We feel that we have a role to play in leveling the playing field, and in response to these wide-spread economic challenges, MassMutual and the MassMutual Foundation recently launched the Live Mutual Project. In support of this initiative, we are looking for a creative, pragmatic and experienced investment professional with a deep interest in impact investing to help us meet our (developing) Live Mutual Project goals.
The Portfolio Manager will inherit leadership responsibility for an existing investment vehicle focusing upon the Springfield, Massachusetts community (Springfield Venture Fund) and partner with the leadership of Community Responsibility and of Investment Management to develop and execute our next generation of impact investment strategy.
With the launch of the Live Mutual Project in 2018, there is tremendous opportunity to expand upon the existing fund model to support this exciting new social impact platform driven by the MassMutual Foundation. The Live Mutual Project targets financial deserts across the US, helping community partners convene, collaborate, coordinate and allocate resources towards a shared vision of prosperity. Through this collaboration and targeted investments, we help them build capacity, develop leadership and create connections to strengthen financial well-being, now and for generations to come.
Depending upon the interests and prior experience of the successful candidate, the Portfolio Manager may also actively participate in the broader alternative investment sourcing, analysis, selection and portfolio management of the Alternative Investments Team.
The Alternative Investments team is a small, flat and highly focused team responsible for Alternative and Real Estate Investments for the General Investment Account of MassMutual, including illiquid asset strategies such as private equity, infrastructure and real assets, private lending and real estate as well as structured, alternative execution of liquid asset strategies. The team effects such strategies through asset allocations to asset management firms, through investments in fund vehicles and through direct investments. The team has a collaborative approach to decision making; but given the lean, flat structure of the team, each Portfolio Manager also functions as a deal sourcer, analyst, transaction negotiator and deal modeler.
+ Partner with the leadership of MassMutual’s Community Responsibility team and the leadership of MassMutual Investment Management to develop our next generation of impact investment strategy with the goal of furthering our Mutual values while fulfilling our fiduciary duty to our policyholders.
+ Manage the execution of the impact investment strategy, including the recruitment and selection or partners and/or team members, as appropriate.
+ Oversee investment approval and portfolio management of impact investments, consistent with the revised strategy.
+ In partnership with Community Responsibility, serve as a voice for MassMutual within the impact investment community.
This role needs an individual who knows how to do well by doing good. A candidate should have a broad knowledge of impact investing, both successful and unsuccessful, and be able to lead a discussion among senior management about what makes sense for MassMutual as a next generation impact investment program. A candidate should also have sufficient traditional investment experience to be able to interpret the risk/reward of potential impact investments for an audience accustomed to reviewing traditional private equity or private lending investments. The ideal candidate will be comfortable with one foot in each of these complementary worlds.
At least 5 years of investment experience, a meaningful portion of which must include making investment recommendations on specific investments based upon fundamental analysis. At least 3 years of experience in community impact investing. Exceptional communication and interpersonal skills to assume a leadership role in a fast paced, small team environment. An understanding of the impact investment market and a willingness to articulate opinions as to what works and what does not. Chartered Financial Analyst designation preferred. Very strong problem solving and logic skills.
Primary Work Location: Boston, but frequent travel to Western Massachusetts and some other travel.