Managing Director, Business Development, Core Property Fund

Location Designation: Hybrid - 4 days per week 

 

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