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Asset and Wealth Management - Real Assets Private Markets Investments Associate
mid · Asset Management
Description
The Multi Asset Private Markets Investment Team (MAPM-IT), part of Global Alternative Investment Solutions (GAIS) within JPMorganChase & Co’s Asset & Wealth Management division, is responsible for sourcing, underwriting, and monitoring private investment funds and co-investments across private markets. Strategies span the private investment universe including buyout, growth equity, venture capital, private credit, real assets, and secondaries. Based in New York with offices in London & Mumbai, the team has underwritten and onboarded 300+ funds representing over $100 billion in client commitments, with the Real Assets Solutions business representing more than＄30 billion in assets.
Job Summary
As a Real Assets Private Markets Investments Associate within GAIS, you will drive end-to-end due diligence and portfolio monitoring for Real Assets opportunities, primarily spanning Real Estate and Infrastructure across primary fund commitments, direct co-investments, and secondary transactions (including LP-led and GP-led). You will own significant components of underwriting—quantitative analysis, qualitative diligence, and investment committee materials—and coordinate closely with stakeholders across Alternatives, portfolio construction, risk, legal, tax, and operations. The role values strong Real Assets investment judgment; Real Estate underwriting expertise is beneficial given team capabilities and the opportunity set, alongside infrastructure equity and credit experience.
Job Responsibilities
- Lead diligence workstreams for Real Assets opportunities across primary funds, co-investments, and secondaries (LP-led and GP-led), including diligence planning, data requests, manager/sponsor meetings, and internal coordination.
- Build and own underwriting models and analyses tailored to transaction type, including cash flow and performance modeling, scenario/sensitivity analysis, downside framing, and key risk identification:
- Primary funds: manager evaluation, track record attribution, portfolio construction, pacing/vintage considerations, fee/expense impact, and operational/organizational diligence in partnership with specialists.
- Co-investments: deal-level modeling and underwriting across Real Assets equity and credit (e.g., cash flow and leverage analysis, structure/covenant assessment where applicable, base/downside cases, and exit/refinancing assumptions).
- Secondaries: underwriting of portfolio exposures and cash flows, assessment of NAV marks/valuation approaches, discount/premium and liquidity analysis, treatment of unfunded commitments, and evaluation of transaction mechanics for GP-led processes (e.g., continuation vehicles) and LP-led sales.
- Draft and drive Investment Committee memos and presentations end-to-end; present recommendations and respond to questions from senior stakeholders.
- Partner with legal/tax/ops/risk to evaluate key terms and structures (LPAs/side letters, co-invest documentation, credit documentation where applicable, and secondary transaction documentation), summarizing investment implications and supporting negotiations where appropriate.
- Own ongoing monitoring for assigned investments/managers, including quarterly reviews, KPI tracking, performance and risk attribution, and issue escalation/watchlist management.
- Contribute to Real Assets pipeline development and market work (manager landscape mapping, thematic research across Real Estate and Infrastructure, and relative value observations).
- Support the ongoing operations and investment process for the team’s Real Assets interval fund and SICAV vehicles, partnering closely with portfolio managers and operational stakeholders on portfolio implementation, monitoring, and reporting needs.
- Mentor junior team members; improve diligence processes, templates, and knowledge management, including responsible use of AI/LLMs to enhance productivity and consistency.
- Be able to travel for work on a limited basis.
Required Qualifications, Skills and Capabilities
- 3+ years of relevant experience in private markets investing/due diligence, Real Assets investing, secondaries, infrastructure equity/credit, investment banking, or a similar institutional investing role.
- Strong quantitative and corporate finance skills; demonstrated ability to translate analysis into clear, defensible investment conclusions.
- Demonstrated Real Estate investing and underwriting experience required; additional experience across Real Assets, including Infrastructure equity and/or credit, preferred.
- Excellent written and verbal communication skills, including representing JPMorgan in internal/external meetings.
- Ability to manage multiple concurrent workstreams, operate independently, and mentor junior team members.
- Tools & Skills: AI/LLMs (intermediate/strong required), MS Excel (advanced required), MS PowerPoint (advanced required).