Research Analyst
First Trust Capital Management L.P., Chicago, IL, United States
Summary
The Research Analyst role at First Trust Alternative Investment Research (“FT AIR”) is focused on supporting all aspects of the investment due diligence efforts with respect to the firm’s alternative investment mandates. FT AIR focuses on executing fund and direct investments across the entire alternative investment market including hedge fund, private equity, venture capital, real estate, and private credit investments. The Research Analyst engages in detailed qualitative and quantitative analysis of a range of alternative investments and is responsible for conveying their findings effectively to the firm’s broader investment team. This role requires analytical and technical skills as well as verbal and written communication skills. The Research Analyst role sits within the twenty-person investment research team of FT AIR and has a summer 2026 start date.
Principal Responsibilities
Perform qualitative and quantitative assessments of alternative investment managers and strategies
Participate in calls and meetings with existing and prospective alternative asset managers
Compile and distribute formal written notes related to existing and potential investment meetings
Function as a point of contact for the investment team with prospective and existing portfolio investments
Perform ad hoc statistical analyses of fund risk exposures
Support the creation of broader investment committee recommendations
Lead the effort to maintain updated firm and fund materials with respect to existing investments
Provide analytical support to evaluate existing client portfolio investment performance
Responsible for maintaining and improving current investment due diligence work-flow processes
Provide operational and investment support for internally managed portfolios
Assist in various ad hoc research projects related to new product development
Participate in the creation of market/industry commentary for firm marketing efforts
Support the sourcing of new liquid and alternative investment strategies
Qualifications
0-2 years of relevant work experience in investment banking, asset management, or related field
Excellent undergraduate academic record
Interest in or progress toward the CFA designation a plus
Interest in understanding hedge fund, private equity, private credit, and real estate strategies
Effective communicator, both written and verbal
Strong grasp of statistics used in financial analysis
A demonstrated high level of analytical/quantitative skill
Passion for the alternative asset management industry
Ability to manage simultaneous projects, often with time constraints
Self-motivated and highly curious
A willingness to travel both domestically and internationally up to 25% of the time
Technical/Systems Skills
Proficient in: Microsoft Excel, Power Point, and Word
Experience with: Bloomberg, Morningstar, Preqin, eVestment/Pertrac, LightKeeper, Enfusion a plus
First Trust Capital Management (“FTCM”) is a privately-owned alternative investment research and asset management firm that advises investment advisors, family offices, and high net worth individuals. FTCM was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized alternative investment solutions and a streamlined operational experience when investing in private and liquid alternatives.
FTCM houses a specialized business unit called FT Alternative Investment Research . This dedicated investment research team operates as a supportive unit to our advisor clients as well as a resource for a select group of institutional clients and family offices. The sole purpose of this dedicated team is to find investment solutions to enhance client portfolios. In 2024, FT AIR:
Performed initial review of 500 investment strategies and opportunities
Made 12 new primary fund commitments and closed on over 60 direct transactions
Participated in over 25 capital introduction events and attended 15 top-tier industry conferences
Investment due diligence covers all asset classes and strategies, wherein the Research Team maintains a proprietary database of portfolio managers and all related correspondence. Importantly, the Research Team does not perform database screens to identify prospective portfolio managers. The vast majority of currently sourced funds and strategies have come through our extensive network and reach within the investment community as opposed to any screening process. We perform ongoing due diligence on our approved managers to ensure that are adhering to their style, process and investment mandate.
The Research Analyst role at First Trust Alternative Investment Research (“FT AIR”) is focused on supporting all aspects of the investment due diligence efforts with respect to the firm’s alternative investment mandates. FT AIR focuses on executing fund and direct investments across the entire alternative investment market including hedge fund, private equity, venture capital, real estate, and private credit investments. The Research Analyst engages in detailed qualitative and quantitative analysis of a range of alternative investments and is responsible for conveying their findings effectively to the firm’s broader investment team. This role requires analytical and technical skills as well as verbal and written communication skills. The Research Analyst role sits within the twenty-person investment research team of FT AIR and has a summer 2026 start date.
Principal Responsibilities
Perform qualitative and quantitative assessments of alternative investment managers and strategies
Participate in calls and meetings with existing and prospective alternative asset managers
Compile and distribute formal written notes related to existing and potential investment meetings
Function as a point of contact for the investment team with prospective and existing portfolio investments
Perform ad hoc statistical analyses of fund risk exposures
Support the creation of broader investment committee recommendations
Lead the effort to maintain updated firm and fund materials with respect to existing investments
Provide analytical support to evaluate existing client portfolio investment performance
Responsible for maintaining and improving current investment due diligence work-flow processes
Provide operational and investment support for internally managed portfolios
Assist in various ad hoc research projects related to new product development
Participate in the creation of market/industry commentary for firm marketing efforts
Support the sourcing of new liquid and alternative investment strategies
Qualifications
0-2 years of relevant work experience in investment banking, asset management, or related field
Excellent undergraduate academic record
Interest in or progress toward the CFA designation a plus
Interest in understanding hedge fund, private equity, private credit, and real estate strategies
Effective communicator, both written and verbal
Strong grasp of statistics used in financial analysis
A demonstrated high level of analytical/quantitative skill
Passion for the alternative asset management industry
Ability to manage simultaneous projects, often with time constraints
Self-motivated and highly curious
A willingness to travel both domestically and internationally up to 25% of the time
Technical/Systems Skills
Proficient in: Microsoft Excel, Power Point, and Word
Experience with: Bloomberg, Morningstar, Preqin, eVestment/Pertrac, LightKeeper, Enfusion a plus
First Trust Capital Management (“FTCM”) is a privately-owned alternative investment research and asset management firm that advises investment advisors, family offices, and high net worth individuals. FTCM was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized alternative investment solutions and a streamlined operational experience when investing in private and liquid alternatives.
FTCM houses a specialized business unit called FT Alternative Investment Research . This dedicated investment research team operates as a supportive unit to our advisor clients as well as a resource for a select group of institutional clients and family offices. The sole purpose of this dedicated team is to find investment solutions to enhance client portfolios. In 2024, FT AIR:
Performed initial review of 500 investment strategies and opportunities
Made 12 new primary fund commitments and closed on over 60 direct transactions
Participated in over 25 capital introduction events and attended 15 top-tier industry conferences
Investment due diligence covers all asset classes and strategies, wherein the Research Team maintains a proprietary database of portfolio managers and all related correspondence. Importantly, the Research Team does not perform database screens to identify prospective portfolio managers. The vast majority of currently sourced funds and strategies have come through our extensive network and reach within the investment community as opposed to any screening process. We perform ongoing due diligence on our approved managers to ensure that are adhering to their style, process and investment mandate.