Portfolio Manager, Commercial Real Estate Debt
Wellington Management · New York, United States · 2d ago
About Us
Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 60 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.
About the Role
As part of the continued expansion of our Private Investing capabilities, we are seeking to recruit an experienced investor for our new Commercial Real Estate (CRE) Debt Team. Wellington has been investing in private markets since 2003, and the Firm launched its first dedicated private capital fund in 2014. Today, the private investment teams manage approximately $11 billion in assets in aggregate across private growth equity, venture capital and private credit, and it is the fastest growing investment group within Wellington.
The Portfolio Manager, Commercial Real Estate Debt will be responsible for helping build the team’s investment pipeline, including thematic, research-based sourcing and relationship-driven origination across sponsors, borrowers, financing partners, advisors, and other market participants. In addition to generating deal flow, the ideal candidate will conduct in-depth underwriting of select transactions, develop investment recommendations, structure and negotiate bespoke terms and covenants, and help manage portfolio positions and borrower/sponsor relationships. We expect this individual to leverage their insight and experience throughout the investment process while working closely with others across Wellington’s investment platform, including global credit analysts, industry research colleagues, and other private investors.
ESSENTIAL SKILLS
The following essential skills are required for the role:
- Investment acumen and passion – The Investment Professional will have a successful track record in commercial real estate credit or a closely related lending strategy, with a deep understanding of real estate fundamentals and underwriting experience across major sectors. The ideal candidate will be passionate about credit investing and will emphasize a fundamental, research-oriented, bottom-up approach to underwriting commercial real estate and focus credit structuring, supported by a highly analytical and detailed investment process.
- Superior collaboration and influencing skills – The successful candidate will enjoy being an individual contributor within a highly collaborative team and embrace the benefits of overlapping lines of idea generation. The Investment Professional will build strong trusting relationships externally with sponsors, borrowers, financing counterparts, advisors, management teams, industry contacts, clients and prospects as well as internally with colleagues. The ability to take risk and challenge investment views is critical, as is the humility to admit mistakes and a desire to learn from others; the Investment Professional must recognize the benefits of diverse perspectives. The ability to communicate (both verbally and in writing) action-oriented opinions clearly and with conviction and contribute to an open investment dialogue is important.
- Intellectual curiosity, capacity for differentiated thinking, and a growth mindset – The flexibility and openness to continue learning, evolving, and growing as an investor is important. The Investment Professional will have a global perspective and creative approach for analyzing growth lending transactions. Success in this role will open progression opportunities within the CRE Debt team and broader Wellington.
OTHER QUALIFICATIONS
Additional qualifications and individual characteristics are likely to include:
- A minimum of 12 years of relevant experience on the buy- or sell-side within commercial real estate debt, real estate credit, structured finance, private credit, or credit research. Direct experience underwriting, structuring, or monitoring private commercial real estate debt transactions, including legal documentation, is preferred;
- Established industry relationships and network to originate deal flow across institutional sponsors, borrowers, banks, advisors, and other real estate capital markets participants;
- Expertise in drafting, structuring, and negotiating term sheets, loan agreements, and related credit documentation across a variety of financing transactions;
- Strong academic credentials: an undergraduate degree in finance, economics, accounting, real estate, or a related discipline is preferred;
- Strong bottom-up fundamental approach to research;
- Track record of developing, negotiating, and monitoring bespoke covenants;
- Strong work ethic and attention to detail;
- Ability to organize, manage, and prioritize time well;
- Demonstrated ability to work independently and make decisions in the face of uncertainty;
- Independence of thought, an entrepreneurial nature, and a global perspective;
- Sound judgment, strong work ethic and highest personal and professional integrity; and
- Willingness to travel.
Not sure you meet 100% of our qualifications? That’s ok. If you believe that you could excel in this role, we encourage you to apply and welcome a chance to review your background. We are dedicated to building and maintaining a diversified workforce and considering a broad array of candidates with a variety of skill, workplace experiences, and backgrounds.
As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law. If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at GMWTalentOperations@wellington.com.
At Wellington Management, our approach to compensation is designed to help us attract, inspire and retain the best talent in our industry. We strive to pay employees fairly and competitively across all levels and roles. Our approach to compensation considers all aspects of total compensation; all employees are eligible to receive salary, variable compensation, and benefits. The base salary range for this position is:
USD 120,000 - 225,000This range takes into account the wide range of factors that are considered when making compensation decisions, including but not limited to skill sets; role; skills and experience; certifications; and education. This range is an estimate, and further details on salary and total compensation aspects will be shared with candidates during the recruitment process.
Base salary is only one component of Wellington’s total compensation approach. Other rewards may include a discretionary Corporate Bonus and/ or Incentives, if eligible. In addition, we offer a comprehensive and high value benefit package to meet the unique needs of our employees and their families, and we are committed to fostering a flexible work environment that enables employees to thrive personally and professionally. Examples of our benefits include retirement plan, health and wellbeing, dental, vision, and pharmacy coverage, health savings account, flexible spending accounts and commuter program, employee assistance program, life and disability insurance, adoption assistance, back-up childcare, tuition/CFAreimbursement and paid time off (leave of absence, paid holidays, volunteer, sick and vacation time)
We believe that in person interactions inspire and energize our community and are essential to our culture. In support of this commitment, our employees work from our offices 4 days a week with flexibility to work remotely 1 day a week. We believe that this approach ultimately supports our mission to deliver investment excellence to our clients and their beneficiaries over the long term.