Director, Private Investments - Tenders Global

Director, Private Investments

The William and Flora Hewlett Foundation

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The William and Flora Hewlett Foundation, based in Menlo Park, California, seeks a Director, Private Investments to work onsite in its Investment Department.

About the Foundation

The William and Flora Hewlett Foundation is a nonpartisan, private charitable foundation that advances ideas and supports institutions to promote a better world. For more than 50 years, it has supported efforts to advance education for all, preserve the environment, foster gender equity and responsive governance around the world, support vibrant performing arts, serve Bay Area communities, and make the philanthropy sector more effective. In addition, we also make grants for special projects and to address other timely problems, such as challenges related to cybersecurity. Our newest program focuses on strengthening U.S. democracy. In 2020, the foundation announced a new grantmaking commitment focused on racial justice.

The Hewlett Foundation’s assets are approximately $12.5 billion with annual awards of grants totaling more than $600 million. More information about the Hewlett Foundation is available at: www.hewlett.org

About the Investment Department

The Investment Department’s mission is to pursue an investment strategy that generates optimal risk-adjusted returns that are sufficient, over time, to sustain the real value of the Foundation’s endowment net of payout. The investment portfolio is widely diversified by geography and across a range of asset classes. All investments are made through a best-in-class group of external managers. The team embraces diversity as a core value of our team culture alongside intellectual curiosity, integrity, passion for investing, and high performance/competence and believe diverse opinions strengthen our investment decisions.

About the Position

The Director’s primary responsibility will be to participate in manager selection and oversight across the venture capital and buyout portfolio, which collectively represent a target allocation of 27% of the portfolio. The individual filling this position will be a critical part of our eleven-person investment staff and will report to the Managing Director of Private Investments.

In addition, the Director will:

  • Work closely with the Managing Director of Private Investments in monitoring and analyzing the existing private investments in the portfolio, including detailed analytical work of underlying investment holdings, maintaining active communication with general partners, attending annual meetings, and reviewing quarterly correspondence.
  • Perform due diligence for prospective investments and assist in manager selection by evaluating the team and strategy, driving analysis of portfolio companies, deconstructing fund-level performance, and preparing recommendations for the Investment Committee.
  • Prepare strategic analyses of the buyout and venture capital portfolios, review allocations of capital within each.,
  • Support the other Managing Directors with modeling and analysis of private benchmarks, portfolio performance, risk, and liquidity.
  • Research broad industry trends and support the investment team in various projects as required.

Qualities We Are Looking For:

  • Intellectual curiosity and a passion for investing: you are endlessly curious, see the world in systems and can get up to speed on complex topics, fast. You love to dig deep, and you know when to ask more questions — and when to listen and learn.
  • Competitive streak and intense work ethic: you’re driven by your goal to find the best investments, and you are willing to put in the work to make it happen. You love to dig into the details of investment opportunities and enjoy rolling-up your sleeves to find answers and exchange ideas.
  • Passion for understanding the companies in our portfolio. You love learning about business models, growth opportunities and inherent risks. In turn, this passion will lead to the creation of unique analyses that enrich our understanding and perspective of the portfolio.
  • Highly Adaptable: You’re most comfortable on a small team, can prioritize quickly, and are energized by making sure investment process stays on track.
  • Culture add: We process as a team. Diverse thinking is what leads to better decisions; you’re not afraid to be contrarian. You pride yourself on kindness, integrity and not taking yourself too seriously.
  • Humility: You value having the space to admit mistakes and are driven to learn from them.
  • You get energy from the people around you: You love hallway discussions and spending time with your team. You can walk into any room and feel at ease.
  • Effective communication: You know when to listen, when to question, and have a proven ability to get your point across.

Required Skills and Knowledge

Candidates will likely have 10-12 years of experience working in private equity, growth equity, venture capital or other private investment functions. We’re open to candidates with more years that bring a different perspective to our investment approach.

  • Strong quantitative skills in private investment analysis
  • Expert knowledge of Excel and the ability to develop and manipulate complex financial models
  • Proven ability to develop and defend investment views
  • MBA or CFA preferred

Physical Demands/Work Environment

The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The position is based in Menlo Park, California. The investment team works in the office four days per week (Monday-Thursday). While performing the duties of this job, the employee is required to spend extended hours at the computer. This position also requires periods of frequent of travel. The Foundation requires all staff, vendors, and visitors accessing the office to be fully vaccinated against SARS-CoV-2, the virus that causes COVID-19 (including boosters when eligible).

Compensation and Benefits

The Hewlett Foundation is committed to providing compensation that is competitive within the philanthropic sector. We offer a generous total compensation package that emphasizes both base salary and comprehensive benefits. The package for this role includes a salary in the range of $300,000-$400,000 and an annual incentive program. This position is exempt and full-time. Offers are based on the candidate’s years of experience and our practice of maintaining salary equity within the foundation.

To Apply

We’d love to hear from you! Please apply online and submit a resume and cover letter addressed to Tom Mieczkowski, explaining your interest and how your skills fit this position.

The William and Flora Hewlett Foundation embraces the importance of diversity, equity, and inclusion, both internally in our hiring process and organizational culture, and externally, in our grantmaking and related practices. We are an equal opportunity employer, and welcome applications from people of all backgrounds, cultures, and experiences.

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