Chief Investment Officer

CLIENT
Our client family is headquartered in the Denver area and is a well-established single family office that has been running effectively for more than fifteen years.  The family’s wealth was the result of two highly successful businesses, both in enery - the first in exploration and production, and the second (which is still ongoing) in liquid natural gas.  This is first generation wealth created by a driven, entrepreneur/executive who came from very humble beginnings.
 
The family currently has approximately 35 entities including business and investment entities, family business entities, trusts, aircraft, yacht, personal residences and a private foundation.  
 
The family spans two generations - (G1) husband (executive) and wife, hereinafter “Principals” and (G2) their two adult children and spouses, and includes three primary households, all of which are in the domestic United States.
 
A recent liquidity event resulting from a partial sale of the primary business enterprise (energy / liquid natural gas) has added a significant level of liquid assets to the portfolio and thus given rise to this position being created. This primary business enterprise is located near Houston, and this new role will be located in the business offices in downtown Houston.
 
The family utilizes a broad array of external resources and consultants as needed including attorneys, investment advisors, tax CPA’s, etc.
 
 
THE OPPORTUNITY
This CIO role is a newly created position which offers an experienced investments professional an excellent opportunity to work closely with a sophisticated, highly entrepreneurially-driven family.  Reporting to the G1 executive, the CIO will have primary responsibility for providing internal management performance oversight of the core portfolio that is being managed by outside managers.
In addition, the CIO will work collaboratively with the G1 executive and play a lead investment tole as capital is gradually deployed into private equity, alternatively and direct investments over the next few years.
The CIO will be a key member of the Investment Team and as such will work closely with the Principals and G2 family members, the family office team, and external advisors to support the evolving vision of the Principals.
The role will span from leading deal sourcing and sophisticated analysis of investment opportunities to management support of the existing liquid assets portfolio in conjunction with the primary external manager.  The position requires a highly entrepreneurial and self-motivated individual.
In addition to the investment management and strategic leadership experience, the family is seeking a CIO who aligns with their core values and can help to support and maintain these values throughout their related organizations.  These core values include, respect, integrity, honesty, loyalty and hard work.
 
 
THE POSITION
 
Specific responsibilities include strategic leadership and tactical oversight/execution of the following:
 
INVESTMENT AND PORTFOLIO MANAGEMENT
  • Work collaboratively with the Principals, family members, family office team and external investment managers and advisors to insure sound investment and portfolio management practices and to insure the long term growth and sustainability of the investment portfolio.
  • Develop a dashboard and other meaningful reporting across the investment portfolio to keep the Principals apprised of investment performance, and potential current and future impacts to investments and cash flow.
  • Partner with internal family office team, external investment managers, attorneys and other advisors as needed to provide oversight across the broader investment portfolio including, but not limited to, liquid assets, foundation investments, co-investments, direct investments, etc. 
 
INVESTMENT STRATEGY 
  • Develop an in-depth understanding of the Principals’ current investment philosophy, vision and strategy and collaborate closely with the Principals on an ongoing basis in setting investment strategy that is aligned with these objectives.
  • Drive the development of a decision framework for investments that can support an efficient and sound execution of the overall investment strategy.  
  • Given the entrepreneurial nature of the Principals, develop and share investment ideas that capitalize on market opportunities including direct investments.
 
DEAL SOURCING, DUE DILIGENCE, STRUCTURING AND PORTFOLIO MANAGEMENT
Sourcing 
  • Develop and maintain higher quality and more consistent level of deal flow by developing broader network to source new investment opportunities from:  investors (VCs, Growth Equity, Private Equity, Hedge Funds), investment banks, intermediaries, entrepreneurs
  • Develop relevant specific sector expertise and related investment theses
 
Due diligence 
  • Develop more disciplined and sophisticated due diligence process to vet deals including research, analytics, and developing performance criteria to support evaluation of investment decisions  
  • Lead business assessment, sales strategy, customer pipeline review
  • Evaluate management teams of potential company investments
  • Analyze market size, growth drivers, market share
  • Analyze competitive landscape and technologies
  • Prepare financial analyses:  unit price and cost, downside and upside scenarios, sensitivities, valuation, returns
  • Accounting, tax, legal review
Structuring
  • Structure, negotiate and execute transactions across a range of structures:  early and late-stage VC, growth equity, majority acquisitions including leveraged buyouts
  • Lead financing process:  lender materials, Term Sheet, Credit Agreement
  • Perform deal documentation and negotiation:  Indication of Interest (IOI), Letter of Intent (LOI), Term Sheet, Stock Purchase and Credit Agreement
 
Portfolio management
  • Monitor and assist portfolio companies and serve as Board Observer or Board of Director as needed
  • Provide strategic advice on acquisitions and divestitures (identification, negotiation, financing, execution); market intelligence (new products, markets, geographies, partnerships, distrubution channels); financial management (metrics, key performance indicators (KPIs), cost reduction)
  • Acquisitions/divestitures: identification, negotiation, financing, execution
  • Market intelligence:  new products, markets, geographies, partnerships, distribution channels
  • Financial:  metrics, key performance indicators (KPIs), cost reductions
  • Assist in recruiting as needed: executive evaluation, assisting in recruiting management and board members
  • Participate in governance as needed:  reporting, monthly updates with portfolio company CEOs / CFOs
  • Oversee the portfolio management of the foundation
 
TEAM COLLABORATION AND KNOWLEDGE SHARING
  • Partner with family office team members as needed to support the services that the office provides, i.e., accounting, tax, legal, IT, etc.
  • Promote knowledge sharing across the family and family office.
  • Work with family members, family office team and external advisors on special projects as needed.
  • Work collaboratively with the COO/CFO and external advisors to support the tax and estate planning initiatives of the family including trust administration and oversight.
  • Work with the COO/CFO to obtain relevant information that will be used in providing the family with an integrated, comprehensive overview of their financial affairs and in keeping them informed of potential current and future impacts to investments and cash flow.
  • Also work with the COO/CFO collaboratively to provide guidance and suggestions to the family, as needed to help ensure wise long term management of the family’s wealth.
  • Participate in family investment meetings as needed.
 
STAFF MANAGEMENT
  • Assist in recruiting, managing and mentoring junior investment professional(s) if applicable. 
  • Provide ongoing opportunities for professional development of staff.
 
POSITION REQUIREMENTS
  • BA/BS in Finance or a related field required.
  • MBA or equivalent degree and CFA preferred.
  • 10+ years of experience in investment management including at least 5 years of working with firms in venture capital and/or private equity.
  • Must have a strong foundation of knowledge in venture capital and private equity investments.  Prior investment experience across all stages:  VC, growth equity, private equity highly preferred.
  • Proven investment, due diligence, analytical, financial skills.
  • Ability to develop strong relationships with family members, internal teams, investment community and outside advisors.
  • Strong network of contacts within private equity, hedge funds or fund of funds.
  • Strong alignment of values, vision and connection with the Principals.
  • Self-confident, knowledgeable and able to exercise sound judgment in conducting research, analysis and decision making.
  • Possess the conviction to support the analyses and decisions in informal and formal review settings with Principals, external advisors and management teams and family office team.
  • Positive, open, respectful attitude and a demonstrated ability to work well in a highly collaborative, team oriented culture.
  • Exceptional emotional intelligence.
  • Highly skilled communicator and facilitator with the ability to effectively communicate complex concepts and strategies in a clear and concise manner to different audiences. 
  • Passionate, motivated, self-directed individual with a proven commitment to consistently high quality work.
  • Entrepreneurial mindset and business owner mentality.
  • Experience in working with high net worth individuals and family businesses.
  • Must have a strong understanding of and familiarity with best practices in a similar investment management oversight role.
  • Ability to play a key role in the investment and strategic leadership, direction and vision of the family office as it evolves over time.
  • Must have an uncompromising commitment to “service excellence” and be able to deliver this outcome across a variety of family entities and interests on a continuous and consistent basis.
  • Must have integrity and be approachable, respectful and instill confidence and trust in their ability to handle complex and sensitive financial and personal information both internally and externally.
  • Ability and willingness to be hands-on in the day-to-day family office operations.
  • Highly organized and able to effectively manage multiple priorities simultaneously coupled with a high degree of attention to detail and solid organizational skills.
  • High degree of integrity and ability to instill confidence and trust in being able to handle the complexity and sensitivity of financial and personal information both internally and externally.
  • Proactive and with a strong sense of urgency.  Comfortable with change and be a confident, self-directed, problem solver.
 
LOCATION
The investment office is being set up in downtown Houston, very near the primary business enterprise (energy / liquid natural gas), and where the G1 executive spends a significant amount of time.
 
REPORTS TO
This position will report to the G1 executive.
 
COMPENSATION
An excellent compensation package will be designed to attract an outstanding individual, including relocation as needed.
 
Job Type
Chief Investment Officer (CIO)
Organization
Kreuzberger Associates
How to apply
Please email your resume and cover letter to Neil Kreuzberger: neil@kreuzberger.com and reference Family Office Exchange.
Location

Houston, TX