Fund Manager, Commercial Real Estate

🕒 August 25

🇺🇸 United States – Remote

💵 $127.7k - $159.6k / year

⏰ Full Time

🟡 Mid-level

🟠 Senior

👔 Manager

👻 Ghost score 4%

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Local Initiatives Support Corporation (LISC)

WebsiteLinkedInAll Job Openings

201 - 500 employees

Founded 1979

🏥 Healthcare

🏗️ Construction

💼 Consulting

Healthcare • Construction • Consulting

Local Initiatives Support Corporation (LISC) is a non-profit organization dedicated to enhancing communities by connecting local groups in the United States with capital and technical expertise. LISC provides flexible lending products to support underserved borrowers and aims to uplift communities through investments in affordable housing, economic development, health, education, and green development. It also emphasizes the importance of building resilient and inclusive communities, partnering with corporations, foundations, and individual donors to bring about these changes. LISC is involved in a variety of program areas including child care, small business support, safety and justice, and sports and recreation, highlighting a comprehensive, community-driven approach to development and capacity building.

📋 Description

• Oversee the financial management, reporting, and operational performance of designated impact investment funds, including place-based affordable housing vehicles • Report to the Director, Fund Management • Review and approve quarterly and annual financial statements, investor reports, CECL impairment, and performance analysis • Analyze fund-level performance, including income statements, balance sheets, capital accounts, and portfolio returns • Present quarterly fund performance overviews to executive leadership and LISC Finance • Monitor and manage fund-level expenses, budgeting, and forecasting • Oversee management fees and other fund-level obligations • Support impact and performance reporting materials • Manage capital call and distribution processes, including construction draw reconciliation, pipeline timing, and fund liquidity • Monitor portfolio cash flows and coordinate deployment with Asset Management and Investments • Maintain fund models, validate assumptions and outputs, and disseminate key findings • Review and validate capital account activity and investor allocations • Identify and elevate risks related to liquidity, timing, or portfolio concentration • Prepare investor decks and reporting materials • Support investor meetings, analysis, fund-specific inquiries, and presentations on financial performance, outlook, and strategy • Ensure timely dissemination of quarterly and annual investor reports • Coordinate with Investments, Asset Management, Legal, Compliance, and LISC shared services on documentation and reporting • Improve fund management processes, policies, systems, and reporting tools • Collaborate on fund strategy, cash management, distributions, fundraising, and investment allocation and structuring • Supervise and manage a Financial Analyst • Ensure workload distribution and resource allocation • Provide performance feedback and foster professional development

🎯 Requirements

• Bachelor’s degree in Finance, Economics, Business Administration, Accounting, or related field required • Minimum 6 years of experience in fund management, private equity, real estate investment management, financial services, or community development finance • Demonstrated experience managing fund-level financial reporting, capital accounts, capital calls, and investor reporting processes • Strong understanding of real estate investment structures and fund economics, including waterfall calculations, capital allocations, and fee structures • Experience with affordable housing, impact investment funds, or place-based real estate vehicles preferred • Familiarity with LIHTC, HTC, or NMTC preferred • Advanced proficiency in Excel, including financial modeling and complex reconciliation • Experience with fund accounting or financial reporting systems required • Strong analytical and problem-solving skills • Strong written and verbal communication skills • Experience coordinating across investments, asset management, legal, compliance, and finance teams • Ability to manage multiple deadlines, exercise sound judgment, operate independently, and maintain commitment to mission-driven, impact-oriented investment objectives • CFA, MBA, MPA, or other relevant advanced degree preferred

🏖️ Benefits

• Medical, Dental, Vision Coverage • Disability Insurance (long-term and short-term coverage) • Retirement Savings with 401(k) and 403(b) plans • Generous Holidays • Vacation, PTO, and Sick Days • Tuition Assistance • Referral Program • Professional Development Opportunities, including ongoing training and development programs