Analyst, Fund Underwriting

Townsend’s Fund Review Group is responsible primarily for reviewing the hundreds of commingled fund investment opportunities from sponsoring managers providing data and proposals to Townsend each year, and fully evaluating funds most appropriate for Townsend’s 90+ clients. Last year,

Last year, Townsend’s clients collectively committed approximately $11.1 billion to private equity real estate funds and other similar vehicles.

throughout the globe. The Group is currently seeking an Analyst to be located in its Cleveland and San Francisco headquarters, focusing on US non-core real estate funds.

Specific responsibilities are integral to the Group and the firm’s overall investment process, and include the following:

  • Conduct investment performance measurements and comparisons using historical fund-level and property-level performance data; Maintain and update various internal databases with performance data and other fund and manager data.
  • Provide a range of analytical support to senior team members using proprietary/customized excel-based models;  provide research, fact finding, and data collection to support the Group’s due diligence process.
  • Meet and interact with investment managers in the due diligence process and evaluation of funds, manager platforms, and strategies.
  • Contribute to the formal investment recommendation reports prepared for clients.
  • Contribute to ad-hoc research requests serving the broader firm’s macro views and client-specific project requests.



  • Bachelor’s degree, majoring in Finance, Accounting, Economics, or related field required; Minor or additional coursework in Business Statistics a plus. MBA and/or CFA designation is preferred. GPA of 3.5+ preferred.
  • ~1-3 years of relevant experience, preferably working in real estate investment consulting, investment banking and/or private fund management.
  • Working knowledge of excel-based modeling, investment statistics, financial statements and other accounting-based reports.
  • Strong written/oral communication skills; ability to interact effectively with fund managers, internal client teams, internal Investment Committee, and directly with clients.
  • Intellectual curiosity; interest in fact finding and data collection.
  • Highly analytical with attention to detail.
  • Self-starter capable of working autonomously in a lean group.

Investment Analyst

Portfolio Management:

  • Providing analytical support to portfolio managers and consultants for client strategy development and efficient portfolio planning/construction
  • Using and improving upon various portfolio planning models and analytical tools
  • Monitoring client portfolio activity and underlying positions
  • Conducting performance measurement and attribution for various clients
  • Writing and reviewing quarterly performance reports to clients
  • Interacting with various institutional clients to provide necessary support on a daily basis
  • Drafting and presenting portfolio performance reviews and other presentations to institutional clients’ staff and board members


  • Exploring various house topics to assist in portfolio strategy development and provide thought leadership to existing and prospective clients

Skills and Expertise:

  • Bachelor’s degree in finance or related field required
  • A strong working knowledge of MS Office products, particularly Excel
  • Strong analytical and quantitative skills
  • A high level of intellectual curiosity
  • Self-starter, capable of working in a fast paced environment and managing multiple projects simultaneously
  • Superior written and verbal communication skills and the ability to work effectively in a team-oriented environment
  • Any background or previous involvement in real estate, private equity or investment management preferred
  • ~2-7 years of experience
  • CFA preferred but not required
  • Minimum GPA of 3.5

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