ProShares now offers one of the largest lineups of ETFs, with over $90 billion in assets. As a pioneer in the ETF industry, ProShares has driven innovative investment strategies, including cryptocurrency-linked ETFs, dividend growth portfolios, interest rate-hedged bond solutions, and geared (leveraged and inverse) products. ProShares continues to advance the ETF landscape with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns. Details below.
Position Summary:
We are seeking an experienced Senior Portfolio Manager to join our private equity investment team, with a focus on managing 1940 Act private equity funds. This individual will play a central role in driving investment strategy, portfolio construction, and execution across manager selection, secondaries, and co-investments.
The successful candidate will combine strong underwriting expertise with deep operational, structuring, and cash flow management skills to effectively manage the unique semi-liquid nature of our fund products.
Essential Job Functions[1]:
Portfolio Management
- Oversee portfolio construction and ongoing management of 1940 Act private equity funds, ensuring alignment with fund mandates, risk management, and liquidity considerations.
- Develop and implement strategies across primary manager commitments, secondary transactions, and co-investments.
- Monitor portfolio exposures, performance attribution, and liquidity forecasting.
Investment Underwriting & Execution
- Lead due diligence and underwriting of private equity investments across:
- Secondaries – LP-led, GP-led, and structured transactions.
- Manager Selection – top-tier private equity funds across buyout, growth, and special situations.
- Co-Investments – direct equity opportunities alongside leading sponsors.
- Build and review financial models, valuation analyses, and scenario planning.
- Negotiate and structure investment terms in collaboration with legal, tax, and operational partners.
Cash Flow & Liquidity Management
- Design and maintain fund-level cash flow models to manage the semi-liquid profile of registered fund vehicles.
- Partner with operations and finance teams to forecast capital calls, distributions, and redemptions.
- Optimize pacing and deployment strategies to meet investor liquidity needs while maximizing returns.
Structuring & Operations
- Collaborate with legal, compliance, and tax teams on fund structuring, investment terms, and regulatory considerations.
- Support the design and enhancement of investment vehicles, including operational processes unique to 1940 Act funds.
Stakeholder Engagement
- Present investment opportunities and portfolio updates to internal investment committees.
- Partner with distribution, investor relations, and client teams to articulate fund strategy and performance to current and prospective investors.
- Build strong relationships with private equity sponsors, secondary advisors, and market participants.
Education and Experience:
- 10+ years of experience in private equity, secondary investing, co-investments, or portfolio management with exposure to 1940 Act fund structures strongly preferred.
- Demonstrated expertise in underwriting across secondaries, manager selection, and co-investments.
- Strong financial modeling and valuation skills, including cash flow forecasting for semi-liquid vehicles.
- Knowledge of fund structuring, legal, and tax considerations in private markets.
- Experience managing private equity portfolios within the 1940 Act regulatory framework a plus.
Knowledge, Skills and Abilities:
- Excellent communication, negotiation, and presentation skills with the ability to interact with senior stakeholders and external partners.
- Highly analytical with strong attention to detail.
- Strategic thinker with the ability to manage complexity and multi-faceted portfolios.
- Team-oriented, collaborative, and adaptable in a fast-paced environment.
The compensation for this position includes salary and incentive pay. The annual base salary range for this role is $220,000-$240,000 (USD), which does not include discretionary bonus compensation. Total compensation may vary based on experience, role, location, department, and individual performance.
Our Benefits:
- Competitive pay and discretionary bonus
- Paid time off
- Health care benefits (medical, dental & vision)
- Additional insurance includes basic life, accidental death and dismemberment, supplemental life, disability and legal benefit
- 401(k) retirement plan with matching contribution
- Spending Accounts (Health Care, Dependent Care, and Transportation)
- Wellness Programs (fitness reimbursement, Employee Assistance Program)
- Education assistance
- Hybrid work schedule
- Additional Programs include peer recognition, corporate matching gift
[1] These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties and skills required of this job. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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.
