Description

Real Assets – Associate Portfolio Manager / Investment Analyst

Real Assets is an equity-oriented portfolio with a target allocation of ~18% of the total portfolio, which as of December 31st, 2025 was approximately $140 billion.  This role will primarily focus on the infrastructure, energy, and natural resources sectors, assisting the Director of Real Assets and the Real Assets Team in analyzing potential investment opportunities and optimizing the existing portfolio. The Associate Portfolio Manager / Investment Analyst will perform duties that support the entire team including researching and evaluating investment opportunities, managing due diligence investigations, preparing investment memorandum, industry research and other specialized reports for the asset class, portfolio analytics and valuations, and communication within the team and external fund sponsors.  Ideal candidates will have 2 to 5 years of relevant experience for an investment analyst position, and 5+ years for an associate portfolio manager position.  Relevant prior experience includes working in an investment support capacity within an investment bank, private equity fund sponsor, consultant or advisor, institutional investor, family office, operating or development company, or related capacity. Relevant education includes business, finance, mathematics, engineering, or scientific field of study which could be relevant to evaluating opportunities in energy, infrastructure, and/or natural resources.   The role is full time, working from the NCIA offices in Raleigh, NC and may require periodic domestic or international travel.  

Requirements

The North Carolina Investment Authority (“NCIA”) is looking to fill the following positions on the Investment Management team. Individuals are encouraged to submit a letter of interest (with compensation expectations) and a resume to NCIAResumes@NCinvest.gov.

 North Carolina Investment Authority 

Session Law 2025-6 created the North Carolina Investment Authority as a State agency for the performance of essential governmental and public functions, primarily investing and managing assets entrusted to the Agency. The NCIA maintains the investment programs for the North Carolina Retirement Systems (“NCRS”), Short-Term Investment Fund, Escheat Fund, and Other Ancillary Funds.  The NCIA supports the North Carolina Supplemental Retirement Board of Trustees by providing oversight for the investment programs of the North Carolina Supplemental Retirement Plans (“SRP”), the Supplemental Retirement Income Plan of North Carolina, and the North Carolina Public Employee Deferred Compensation Plan. Total assets under management exceed $200 billion.

The NCIA is organized into standing teams that are responsible for day-to-day management of certain groupings of investments, and which interact with other teams in capital allocation, risk management, and operational processes.