Associate Implementation Portfolio Manager

Implementation Portfolio Manager (Associate/Principal) – Public & Private Credit

Company Overview:
We are working with a leading alternative investment manager with over $750 billion AUM. Over recent years, this firm has become a market leader in acquiring insurance companies and fully managing the assets on their balance sheets through their world-class investment teams, setting the standard for insurance-related asset management. Their innovative approach has seen competitors attempt to replicate their success, whilst our client remaining the clear market leader.

Their insurance asset management is spearheaded by a leading business unit operating from the U.S. and a European unit (headquartered in London). 

Role Overview

Our client is looking to hire a highly polished and commercially minded Associate or Principal to join the team in London. This function is central to the investment platform, responsible for overseeing how capital is allocated across affiliated insurance balance sheets in a way that balances return, liquidity, and regulatory constraints.

The incoming candidate will be deeply involved in shaping Strategic Asset Allocation (SAA), managing ALM considerations, and executing portfolio construction across both public and private credit markets. This role requires a strong understanding of investment–grade fixed income and an ability to operate with credibility in front of senior stakeholders, including CIOs.

This is a high-exposure, multi-dimensional role offering strategic influence, collaboration with the client's leading investment teams, and the chance to shape asset allocation at scale.

Key Responsibilities

• Drive and support Strategic Asset Allocation (SAA) decisions for insurance balance sheets, in alignment with broader firm-level objectives.
• Participate in portfolio construction and asset allocation across public and private credit, with a particular focus on investment-grade (IG) fixed income.
• Help ensure investments align with regulatory frameworks (e.g., Solvency II), capital efficiency targets, ALM requirements, and liquidity constraints.
• Contribute to investment planning and tactical decision-making across time horizons – from annual SAA reviews to daily/weekly capital allocation activity.
• Collaborate with multiple internal investment teams including:
  • Liquid Markets Macro
  • IG Credit
  • Other internal specialist investment groups 
• Support the selection and oversight of external managers, when capital is allocated outside of the internal platform.
• Communicate recommendations and portfolio strategy to senior stakeholders across the investment, capital, and actuarial functions.
• Influence decisions and build consensus across internal and external partners.

Ideal Candidate Profile

Experience & Background:

• 5–7 years of experience in a relevant investment role, such as:
  • Insurance asset management (either in-house or via third-party asset manager)
  • Insurance solutions teams at asset managers or banks
  • Sell-side structuring roles (with insurance or asset allocation focus)
  • SAA or TAA implementation roles on the buy-side
• Strong foundation in public fixed income, particularly investment grade credit.
• Any experience with private credit or broader private markets is a plus.
• Familiarity with Solvency II or other insurance regulatory frameworks is preferred.
• Comfort working within an ALM framework, even if not an expert.

Skills & Attributes:

• Strong communicator with presence – able to present to and engage with CIOs and senior investment leadership.
• Commercially sharp with a strategic mindset, able to think in terms of risk, return, capital, and constraints.
• Able to influence, guide, and build consensus across senior internal stakeholders.
• Comfortable working in an investment context that spans both strategy and execution.
• Highly collaborative, with the ability to work cross-functionally across investment, actuarial, and capital management teams.
• Strong attention to detail and intellectual curiosity.

Team & Exposure

• The team collaborates across the firm's broader investment platform and acts as a central allocator of capital across:
  • Public and private credit strategies
  • Internal investment teams (e.g., Liquid Macro, IG Credit)
  • External third-party managers, where appropriate
• Although SAA frameworks are reviewed annually, capital deployment and allocation decisions are made on an ongoing basis – daily, weekly, and monthly.
• This is a high-impact role with platform-wide visibility, suited to someone who combines investment acumen with strong stakeholder engagement skills.