Investment Associate

Job Description

Firm Overview

Lunate aims to be one of the world's leading private markets solutions providers through SMAs and multi-asset class funds, seeking to generate best-in-class risk-adjusted returns for its clients.

Role Summary

The Associate will support the full investment lifecycle across opportunities including GP Stakes, LP-led and GP-led secondaries, and structured/special situations tied to private market manager ecosystems.

This is an execution-oriented role with meaningful responsibility from day one—ideal for a candidate with 2–4 years of relevant investing or transaction experience and strong financial analysis, commercial judgment, and stakeholder management skills.

1. Deal Sourcing & Pipeline Development

• Support origination efforts by identifying priority GP/manager targets across strategies (PE, VC, credit, real assets, infrastructure, private equity secondaries, etc.).
• Track industry themes (fundraising environment, secondary pricing, GP balance sheet needs, succession planning, monetization, fee-related earnings dynamics).
• Help prepare outreach materials and manage interaction cadence with bankers, intermediaries, placement agents, GPs, and institutional LPs.
• Maintain pipeline hygiene in CRM and produce weekly/monthly pipeline reporting.

1. Investment Evaluation & Due Diligence

• Build and review financial models (cash flows, FRE/earnings, valuation, waterfalls, secondary pricing, sensitivities).
• Analyze GP business fundamentals: AUM composition, fee streams, carry potential, fundraising visibility, client concentration, team economics, and operating leverage.
• Conduct market mapping and comps work across GP stake transactions, secondaries, and relevant public/private benchmarks.
• Coordinate diligence workstreams (commercial, financial, legal, tax, compliance, operations) and manage data-room processes.
• Draft and iterate key materials: investment memos, IC decks, diligence summaries, and risk assessments.

1. Transaction Execution & Structuring

• Support deal structuring across minority stake investments, preferred equity/structured solutions, stapled secondaries, continuation vehicles, and other partnership constructs.
• Assist in negotiating key economic and governance terms (valuation, distribution mechanics, consent rights, information rights, alignment and retention arrangements).
• Work closely with internal and external legal counsel on term sheets and transaction documentation.
• Drive timelines, deliverables, and cross-functional coordination through signing and closing.

1. Portfolio & Partnership Management

• Support ongoing monitoring of partnership investments: performance tracking, quarterly reviews, valuation support, and board/observer materials where applicable.
• Help evaluate follow-on opportunities (co-investments, continuation solutions, additional stake purchases, liquidity options).
• Contribute to relationship management with partner GPs and internal stakeholders.

• 2–4 years of relevant experience in one or more of the following:
• GP Stakes investing (minority investments into asset managers)
• LP Secondaries (portfolio acquisitions, fund interests, structured secondaries)
• Special Opportunities / Structured Private Markets (complex transactions, preferred equity, NAV financing adjacent, hybrids)
• Investment banking (relevant coverage) with strong buyside-relevant execution exposure may be considered
• Demonstrated ability to perform advanced financial analysis and modeling (Excel fluency is essential).
• Strong written and verbal communication skills, with an ability to synthesize complexity into clear so what insights.
• High attention to detail, strong project management, and the ability to manage multiple workstreams under time pressure.
• Professional maturity and confidence interacting with senior external counterparties (GPs, bankers, lawyers, advisors).
• Undergraduate degree in finance, economics, engineering, mathematics, or a similarly analytical discipline.