Associate Director of Portfolio Management, US Real Estate Equity, L&G, Asset Ma

Job Description

The Director, Portfolio Management will focus on investment strategy and portfolio performance for the U.S. Real Estate Equity platform across sectors and clients, in addition to having direct asset management and acquisitions responsibilities for specified assets. They will work with both internal and external clients in marketing strategy and product, initial due diligence, onboarding, and client support.

The role will support the build‑out of the U.S. Real Estate Equity team in execution of the strategic growth plan. Reporting to the Head of Investments and Portfolio Management, the Director, Portfolio Management will support the implementation and execution of the growth plan and work alongside various functions including the Acquisition Team, Asset Managers, Operations, Legal, Property Risk, Accounting, Client Portfolio Management, Distribution, and the LGIM RA team in the U.K. This is a highly visible role with both internal and external clients. Additional responsibilities across acquisitions and asset management focus on portfolio construction, asset allocation, and portfolio performance.

• Support Head of Portfolio Management in developing investment programs, guidelines and monitoring procedures to oversee the existing portfolio, performance and identify new investment opportunities; conduct and research market trends to inform investment recommendations in line with the U.K. business but with focus on addressing governance needs in the U.S.
• Manage multiple stakeholders to implement investment programs and establish timelines for delivery.
• Alongside U.S. Head of Real Estate Equity and Head of Investments and Portfolio Management, develop, maintain, and manage affiliate and JV partner teams.
• Workstream lead and client relationship for internal annuity client, U.K. and U.S., strategy approvals (including structuring, credit, tax, legal, operations, reporting).
• Prepare and respond to external client requests for materials during fund marketing, due diligence, RFP, investment period, and throughout the fund period.
• Manage and deliver presentations and materials for board meetings, investment committees, risk committees, management/group investment committees, and external clients.
• Working alongside the Acquisitions team, identify potential allocation opportunities at pre‑screening and support the development and realization of new real estate investment opportunities (including throughout underwriting and due diligence).
• Working alongside the Asset Management team, closely monitor asset‑level performance and drive portfolio‑level performance.
• Responsibility for portfolio cash management and maintaining cash‑on‑cash yield/performance.
• Responsibility for producing hold/sell analysis and producing recommendation materials to required committees and, where needed, to investors’ entities.
• Work with Client Portfolio Manager, Head of Research, and marketing to produce presentations and market updates.
• Undertake portions of operating model development with U.S. and U.K. teams to incorporate portfolio management requirements (performance, benchmarking, reporting).
• As Aum grows, build out the Portfolio Management team.

Qualifications

• Undergraduate degree required; advanced degree preferred.
• 7+ years of hands‑on practical experience in industry.
• Strong knowledge and understanding of the commercial real estate market, annuity transactions and real estate debt market.
• Excellent quantitative skills (e.g., cashflow modelling using Excel and/or bespoke programs; deep numerical aptitude; strong financial modelling ability and problem‑solving skills including ability to identify logical solutions).
• Straightforward communication of investment opportunities to clients and feedback from clients to the investment team.
• Ability to understand and articulate complex portfolio management concepts effectively.
• Strong written and verbal communication; familiarity with report writing for a variety of audiences; ability to present confidently to senior stakeholders/executive teams.
• Ability to foster effective relationships between colleagues from different backgrounds (development/investment/financial/structuring) to bring skill sets together.
• Organized and able to prioritize, with the ability to manage multiple projects simultaneously under time pressure and with accuracy.
• Team player, ability to work independently and proactively to take ownership of tasks, as well as part of a team.

Additional Information

Salary Range

$160,000 - $200,000

The starting salary offer will vary based on multiple factors, including but not limited to the applicant’s education, job‑related experience, skills, and abilities, geographic location, and market factors. This position is also eligible to participate in the company’s annual discretionary bonus plan. Full‑time employees may be eligible for health insurance with an optional HSA, short‑term disability, long‑term disability, dental insurance, vision care, life insurance, healthcare, dependent and limited care flexible spending accounts, 401(k), vacation, sick time, an employee assistance program, and commuter and transit programs. Additional voluntary programs include supplemental health benefits including accidental injury, critical illness and hospital indemnity insurance, and pet insurance.

EOE Statement

As an EOE employer, L&G Asset Management, America will extend equal opportunity to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, ancestry, national origin, age, disability, medical condition, genetic information, marital status, pregnancy, military status, and/or any other characteristic protected under applicable federal, state or local laws governing non‑discrimination in employment. (2025)

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