Managing Director, Portfolio Management, Private Equity Real Estate (Residential focused)

What You'll DoAll candidates should make sure to read the following job description and information carefully before applying.We are seeking a Managing Director, Portfolio Management to join our Retail & Residential team. In this role, you will lead our residential portfolio as well as provide additional support for retail investments, guiding portfolio strategy and execution for one of our more complex institutional real‐estate portfolios, helping maximize performance while aligning with the objectives of a large institutional pension client.This position blends investment judgment, client leadership, portfolio oversight, and leadership, with meaningful influence on strategy, transactions, and long‐term portfolio construction.Strategic Planning & Portfolio StrategyShape and help drive residential portfolio strategy. Translate strategic direction into executable plans through operating partners and investment structuresSupport development of new investment vehicles and structures designed to deliver strong risk‐adjusted returnsProcure and negotiate agreements with operating partners, joint venture partners, and institutional counterpartiesClient Leadership & Market EngagementServe as a senior client‐facing leader and trusted advisor to institutional investors.Represent the firm with operating partners, brokers, and industry participants across the residential sector.Maintain deep awareness of residential market trends and translate insights into portfolio actions.Portfolio Management & Investment OversightOversee a large, complex institutional residential real‐estate portfolio with a primary focus on multi‐family and manufactured housing investments.Direct execution of value‐creation strategies across operating platforms and assets.Review and approve investment decisions, capital allocations, and transaction recommendations for underwriting discipline, portfolio fit, and risk alignment.Provide leadership on transaction structuring, pricing, and portfolio‐level impacts.Represent the institutional client on management, investment, and governance committees.Valuation, Risk & ReportingPartner with internal and external valuation consultants to execute portfolio valuation policy.Ensure consistency, analytical rigor, and compliance with regulatory and audit requirements.Oversee preparation and delivery of clear, decision‐oriented reporting for institutional clients and senior internal stakeholders.Leadership & MentorshipMentor and develop investment professionals across the team.Promote high standards of analysis, accountability, and collaboration.Contribute to a culture of strong performance and continuous development.Who You AreBachelor's degree in finance, business, or related field; real estate focus strongly preferred.15+ years of commercial real estate experience with deep residential portfolio management expertise, ideally within an institutional environment (allocator, operator, or GP).Proven success supporting institutional clients, including pension plans, and serving as a senior client‐facing investment leader.Demonstrated ability and track record of structuring, negotiating, and governing joint venture investments with third‐party operators.Strong background in residential investment strategy, portfolio construction, and risk management.Experience across acquisitions, asset management, and portfolio oversight.Skills That Will Help You Stand OutExperience with complementary residential sectors such as senior housing, student housing, or manufactured housing.History of influencing portfolio‐level decisions and capital allocation at scale.Exceptional communication and presentation skills with institutional investors, consultants, and boards.Proven leader with a track record of developing high‐performing investment professionals.Willingness to travel regularly to assets, operating partners, and client meetings.Salary Range (Non‐Exempt expressed as hourly; Exempt expressed as yearly)The base salary range for this role is $242,000 – $300,000. Final compensation will be determined based on skills, experience, and alignment with the role's responsibilities.In addition to base pay, this role participates in an annual profit share bonus plan.Time Off ProgramFlexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short‐term illness. Employees don't accrue a bank of time off under FTO and there is no set number of days provided.Pension EligibleNoLocation(s)We're open to considering remote talent or in‐office talent working out of our office locations in Des Moines, Charlotte, Chicago, Denver or New York City.Work Authorization/SponsorshipAt this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but is not limited to: F1‐OPT, F1‐CPT, H‐1B, TN, L‐1, J‐1, etc.Investment Code of EthicsFor Principal Asset Management positions, you'll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.Principal is an Equal Opportunity EmployerAll qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.Posting WindowWe will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. xevrcyc If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date.Original Posting Date5/12/2026Most Recently Posted Date5/12/2026