TPG Angelo Gordon (“TPG AG”) is currently seeking an associate in the Real Estate Asset Management group in TPG AG’s Singapore office. The candidate for the position should have 3 to 6 years of experience in real estate asset management and portfolio management. Exposure to real estate valuations preferred. Very strong excel modeling skills are required. This person must be highly organized, detail-oriented and very responsive to a fast-paced investment environment. A strong communicator is required given the exposure to senior members of the Investment, Finance and Marketing teams.
The role is comprised of asset management, fund modeling, portfolio management, technology implementation/support and performance reporting. The analyses produced will support the Deal Team and senior members of the firm for decision making purposes in addition to critically supporting the client service process for both current and prospective investors.
Detailed responsibilities will include the following:
Valuation/Projection Models:
Review/prepare deal models consisting of:
- Coordinate with the Deal Teams and reference internal resources to verify deal level assumptions utilized as inputs to the deal model. Review and assess the appropriateness of the model inputs based on deal specific knowledge.
- Verify market observable assumptions to external sources where available, and understand/explain any variation from market levels based on deal specific circumstances
- Reviewing the mechanics of the model in detail to ensure the model is working as intended. When preparing, update the model with all deal inputs and assumptions and ensuring mechanics are working as intended.
- Review and understand deal specific promote structures and model out the waterfall calculation relating to the economic split between Angelo Gordon and our Operating Partner
- Assess the reasonableness of the derived outputs, specifically the deal’s market value and projected return
- Review the output with the Deal Team, articulate the changes and receive formal sign off
Fund Level Modeling:
- Aggregate deal level projected economics to compute fund and portfolio level estimated returns
- Layer in fund level expense and capital activity assumptions
- Model out the fund level waterfall, including the LP preferred return and GP catch-up/incentive fee provisions to ultimately derive the economic split between the LP and GP
- Report the fund level gross and net returns to Executive Management for sign off and Marketing for use in investor materials
Operational Oversight and Tracking:
- Review deal level monthly operating statements to understand performance relative to budget and follow up with the Deal Team with questions/comments
- Track business plan progress based on an understanding of the product type and strategy for each individual deal, this includes but is not limited to:
- Track leasing activity with a comparison to pro forma; ad hoc lease analysis as needed
- Monitor upcoming lease rollover, down time, etc.
- Understand market rents and performance relative to our comp set
- Review draw requests in detail submitted by partners as it relates to capital projects
- Assess capital plan progress on a monthly basis by reviewing updated capital spend, costs remaining, comparison to budget, expected completion timing, etc. Follow-up with the Deal Team with questions/comments
- Annual budget and business plan detailed review
- Provide deal support to TPG AG Hong Kong deal team for both new transactions and dispositions, including coordinating Financial Due Diligence and Tax Due Diligence, overseeing capital calls, reviewing loan documents, handling closing logistics, etc.
- Liaise with real estate operating partners in mainland China, Hong Kong and Singapore
- Assist as needed with real estate joint venture requests and coordinate the same with the investment team.
- Develop strong working relationships with the investment team, banking relationships and large counterparties.
- Travel to the TPG AG Hong Kong office on a regular basis
- Network with peer firms to implement best practices where needed.
Data Management and Analytics:
- Maintain a well-organized, accurate and comprehensive dataset with historical and projected granular deal specific information, including leasing statistics, tenant information, capital budgets, operational performance and debt metrics/data points, among other items
- Prepare analyses to derive insights across different subsets of the portfolio (e.g., property type, region, etc.) on a regular and ad hoc basis
- Research trends and patterns in the portfolio that can be leveraged as both diagnostic and predictive insights
- Compare internal statistics against market sources to determine performance relative to the broader market
Technology and Innovation:
- Maintain and support the firm’s existing internal data warehouse and dashboard reporting modules, including suggesting further refinements
- Leverage the technologies currently utilized by the asset management team (internal and external) to create efficiencies through process automation
- Continually assess whether there are other technologies or functionalities that could be implemented which would increase the team’s productivity or effectiveness
Investor Performance Reporting:
- Preparation of recurring investor/consultant requests and questionnaires consisting of investment and fund level performance data
- Provide financial data and track record information for marketing materials
- Assist in the preparation of materials for the annual advisory board/investor conference presentations and quarterly investor packages
- Work closely with the Deal Team, Portfolio Managers and Investor Relations on ad hoc requests and analyses
