Portfolio Manager
Standard Normal, San Juan, San Juan, United States
Fund:
Normal Zero Two LP (Fund of Hedge Funds) Location:
New York, NY (Remote or Hybrid) Overview
Normal Zero Two LP ("N02") is a differentiated fund of hedge funds designed to give private investors access to uncorrelated, liquid, and often overlooked investment strategies traditionally unavailable to those without institutional scale. N02 serves as a modern alternative to traditional allocations, offering better diversification, enhanced liquidity, and attractive absolute returns with lower drawdowns. N02 is managed by Standard Normal and leverages a rigorous, experience-driven investment process honed through decades of capital allocation, risk management, and direct investing across asset classes. Role Summary
We are seeking a
Portfolio Manager
to lead investment sourcing, manager diligence, portfolio construction, and ongoing monitoring of 10–20 underlying hedge fund and alternative strategies within N02. The ideal candidate has knowledge of hedge fund strategies, strong judgment in manager selection, and the discipline to manage a portfolio optimized for uncorrelated return streams and liquidity. Responsibilities
Identify small, differentiated, and capacity-constrained managers across equity long/short, special situations, commodities, volatility, systematic, and discretionary strategies Maintain a proprietary sourcing network to uncover under-the-radar opportunities Evaluate edge sustainability, trade-level performance consistency, and risk alignment Conduct in-depth diligence on investment process, team structure, historical performance, and operational controls Ensure alignment of interests through manager co-investment and strong internal risk frameworks Build a diversified portfolio based on correlation analysis, volatility-adjusted expectations, and persistency of returns Allocate dynamically across strategies based on opportunity sets Monitor portfolio concentration, cross-strategy correlation, and liquidity exposure Active Monitoring & Capital Reallocation
Maintain ongoing dialogue with managers to ensure adherence to stated strategy Reallocate capital proactively in response to manager drift, underperformance, or shifting market regimes Support investor communications with portfolio updates, performance attribution, and strategic insights Qualifications (Guideline Range)
5–15 years of experience in hedge fund allocation, research, portfolio construction Understanding of alternatives and strategy evaluation Demonstrated skill in analyzing performance and risk across differentiated strategies Experience with small, niche, or emerging managers is beneficial Excellent analytical, written, and verbal communication skills Bachelor’s degree required; advanced degree (Quantitative masters, MBA or CFA) beneficial Key Attributes
Independent thinker with sound investment judgment Skeptical of institutional herd behavior and scale-driven constraints High attention to operational discipline and risk management Personally aligned with investors through a performance-based mindset Compensation & Alignment
Performance-based incentive compensation
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Normal Zero Two LP (Fund of Hedge Funds) Location:
New York, NY (Remote or Hybrid) Overview
Normal Zero Two LP ("N02") is a differentiated fund of hedge funds designed to give private investors access to uncorrelated, liquid, and often overlooked investment strategies traditionally unavailable to those without institutional scale. N02 serves as a modern alternative to traditional allocations, offering better diversification, enhanced liquidity, and attractive absolute returns with lower drawdowns. N02 is managed by Standard Normal and leverages a rigorous, experience-driven investment process honed through decades of capital allocation, risk management, and direct investing across asset classes. Role Summary
We are seeking a
Portfolio Manager
to lead investment sourcing, manager diligence, portfolio construction, and ongoing monitoring of 10–20 underlying hedge fund and alternative strategies within N02. The ideal candidate has knowledge of hedge fund strategies, strong judgment in manager selection, and the discipline to manage a portfolio optimized for uncorrelated return streams and liquidity. Responsibilities
Identify small, differentiated, and capacity-constrained managers across equity long/short, special situations, commodities, volatility, systematic, and discretionary strategies Maintain a proprietary sourcing network to uncover under-the-radar opportunities Evaluate edge sustainability, trade-level performance consistency, and risk alignment Conduct in-depth diligence on investment process, team structure, historical performance, and operational controls Ensure alignment of interests through manager co-investment and strong internal risk frameworks Build a diversified portfolio based on correlation analysis, volatility-adjusted expectations, and persistency of returns Allocate dynamically across strategies based on opportunity sets Monitor portfolio concentration, cross-strategy correlation, and liquidity exposure Active Monitoring & Capital Reallocation
Maintain ongoing dialogue with managers to ensure adherence to stated strategy Reallocate capital proactively in response to manager drift, underperformance, or shifting market regimes Support investor communications with portfolio updates, performance attribution, and strategic insights Qualifications (Guideline Range)
5–15 years of experience in hedge fund allocation, research, portfolio construction Understanding of alternatives and strategy evaluation Demonstrated skill in analyzing performance and risk across differentiated strategies Experience with small, niche, or emerging managers is beneficial Excellent analytical, written, and verbal communication skills Bachelor’s degree required; advanced degree (Quantitative masters, MBA or CFA) beneficial Key Attributes
Independent thinker with sound investment judgment Skeptical of institutional herd behavior and scale-driven constraints High attention to operational discipline and risk management Personally aligned with investors through a performance-based mindset Compensation & Alignment
Performance-based incentive compensation
#J-18808-Ljbffr