Date Posted: November 18, 2008
Company: SecondMarket
Website: www.secondmarket.com
Compensation: $150,000+
Experience: 5+ Years
Type: Full Time
Location: New York, NY
Contact: John Paul Teutonico (jpteutonico@secondmarket.com)

Description: Managing Director, LP Interest Market

About SecondMarket

Founded in 2004, New York-based SecondMarket is the largest centralized marketplace for illiquid assets, such as auction-rate securities, bankruptcy claims and restricted securities in public companies. SecondMarket’s online trading platform has nearly 1,500 members, including global financial institutions, hedge funds, private equity firms, mutual funds, and other institutional and accredited investors that collectively manage over $500 billion in assets available for investment.

Job Description

SecondMarket is seeking an individual to lead and manage SecondMarket’s LP Interest Market. This Market serves to facilitate the secondary trading of Limited Partnership interests, including the sale of an investor’s interest in a private equity, venture capital or hedge fund, or portfolio of interests in various funds. The objective of the LP Interest Market is to provide liquidity for LP investors for their funded investments as well as release those investors from any remaining unfunded obligations to the fund. The Market matches and introduces buyers to new opportunities and investments.

Internally, this individual would be expected to oversee the sales, trading, operations and analytical personnel in SecondMarket’s LP Interest Market. This individual would work closely with other departments within SecondMarket, such as legal and compliance, and provide LP Interest Market updates to the firm and senior management.

Externally, this individual would be expected to interact with clients such as private equity funds, hedge funds, pension funds, banks, ultra high net worth individuals, family offices, endowments, foundations, and other institutional investors. The Managing Director would act as a representative of SecondMarket’s LP Interest Market to the relevant communities.

Requirements

• 5+ years of experience in a managerial role in the area of LP interests, private equity, fund of funds management, or secondaries
• Highly-knowledgeable in the areas of private equity and other alternative investment vehicles; understands processes involved in the investment into and management of such funds
• Demonstrates general familiarity with secondary trading of illiquid assets
• Series 7 and 63 licenses, or ability to secure them shortly after starting
• Team player with strong leadership and client skills
• Interest in working in an entrepreneurial environment

Compensation

• Competitive base salary
• Generous bonus structure
• Participation in employee stock purchase plan
• Health and dental benefits
• Standard vacation and sick days