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Real Estate Investment Analyst

September 23, 2026
Teacher Retirement System of Texas is hiring a Special Opportunities Investor

Type of Role: Investments

Experience Level: Analyst/Associate

Location: Austin, Texas, United States

Salary: $k - $k

Teacher Retirement System of Texas (TRS) is a public pension plan of the State of Texas. Established in 1937, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a $180 billion trust fund established to finance member benefits. Details below.

The Real Estate Investment Analyst/Senior Investment Analyst performs and assists with investments research and analysis work. The incumbent will assist Real Estate management and staff with fundamental and statistical research and analysis, and in performing due diligence for potential investments. This position will work proactively with the Real Estate team and IMD staff. This position reports to the Managing Director of Real Estate.
 
Please Include a cover letter with your application in order to be considered for the position.
 
WHAT WILL YOU DO:
Research and Analysis
• Assists in performing fundamental and statistical investment analysis for potential real estate investment opportunities, including basic investment computations (i.e., return multiples, correlations, volatility analysis, attribution analysis, etc.), using any reliable printed or electronic media, partnership offering memoranda, and one on one contact with general and limited partners.
• Assists investment managers in conducting strategic research, asset allocation analysis, and/or risk management.
• Assists investment managers in analyzing performance attribution using proprietary models.
• Assists in conducting investment research on various sectors, companies or geographies using computer databases.
• Assists in researching and analyzing national, international, macro/micro economic, and/or business conditions that directly affect TRS’ real estate investments.
• Provides timely written or oral reports of analysis and recommendations to Investments staff and management.
Due Diligence
• Assists investment managers in performing due diligence research and analysis for potential real estate investment opportunities and/or external strategies.
• Assists in evaluating portfolio diversification by geography, industry, and sub-asset class.
• Assists in the maintenance/improvement of existing and in the development of new quantitative and valuation models and techniques for investment diversification and risk management.
• Consults or coordinates with investment managers, external managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
• Ensures that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
• Works with TRS portfolio management systems such as DealCloud and PowerBI.
 
Performs related work as assigned. 

 

WHAT WILL YOU BRING
 
Required Education
• Bachelor’s degree from an accredited college or university with major coursework in business administration, finance, accounting, operations research, math, information technology, liberal arts or a related area.
• Preferred Master’s degree may substitute for one (1) year of the required experience.(For Real Estate Senior Investment Analyst)
 
Required Experience
• None (For Real Estate Investment Analyst)
• One (1) year of full-time professional experience in private equity, real estate investments, or experience involving a high degree of skill in data analysis and evaluation, such as financial analysis, engineering, or statistics. (For Real Estate Senior Investment Analyst)
 
Required Registration, Certification, or Licensure
• None.
 
Preferred Qualifications (For Real Estate Senior Investment Analyst)
• Experience in institutional investment research, real estate, accounting, financial analysis, statistical analysis, or a related field.
 
Preferred Qualifications (For Real Estate Senior Investment Analyst)
• Master of Business Administration (MBA) or Master’s degree related to finance.
• Experience in the Acquisitions or Asset Management group at an institutional real estate investment firm, institutional real asset investor, investment bank, or similar.
 
Knowledge, Skills, and Abilities
Knowledge of:
• Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
• Statistical concepts, methods, and models, and their application to investments.
Skills in:
• Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.
• Conducting data searches and evaluations of large amounts of information, performing complex statistical analysis of the data, and preparing concise and accurate reports and written/oral recommendations.
• Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.
• Verbal and written communication of complex information that is accurate, timely, and based on sound judgment.
Ability to:
• Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
• Work effectively in a professional team environment.

Military Occupational Specialty (MOS) Codes:
Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty ( https://www.trs.texas.gov/files/trs-military-crosswalk.xlsx ) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition at  careers@trs.texas.gov  with questions or for additional information.

To view all job vacancies, visit www.trs.texas.gov/careers  or www.trs.csod.com/careersite.

For more information, visit www.trs.texas.gov.

Message from Allocator Jobs: To help prepare you for this role, take a look at the Institutional Allocator (IA) program from our partnership organization, the Allocator Training Institute. The IA program curriculum gives you a solid foundation of investing from the allocator’s perspective. You’ll learn how to evaluate investment managers, create an ‘endowment-model’ multi-asset class portfolio, and the quantitative tools necessary to succeed in the role. The three-part program can be completed in less than one year and exams are available every quarter-end month. This is the program that will help you start and then accelerate your allocator career. Reach out if you have any questions.

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