Fund Manager, Commercial Real Estate

Position Summary

The Fund Manager, Commercial Real Estate role resides within the Fund Management & Finance team and is responsible for overseeing the financial management, reporting, and operational performance of designated impact investment funds, including place-based affordable housing vehicles.

Responsibilities

Fund Financial Management & Reporting

• Build, maintain, and regularly update financial models for assigned funds, incorporating actual fund performance, investment activity, capital deployment, repayments, expenses, cash flows, and other relevant assumptions to forecast fund performance through the end of the fund term.
• Use fund models to evaluate projected liquidity, deployment pacing, investor returns, management fees, and other key financial outcomes; identify variances from plan and recommend adjustments as needed.
• Review and approve quarterly and annual financial statements, investor reports, CECL impairment, and performance analysis for assigned funds, ensuring accuracy, completeness, and compliance with fund governing documents
• Analyze fund-level performance, including income statements, balance sheets, capital accounts, and portfolio returns. Present quarterly overview of fund performance to executive leadership and LISC Finance.
• Monitor and manage fund-level expenses, budgeting, and forecasting in coordination with Finance and shared services
• Oversee calculation and payment of management fees and other fund-level obligations
• Support preparation of impact and performance reporting materials in coordination with Investor Relations and Asset Management

Capital Management & Cash Flow Oversight

• Manage capital call and distribution processes, including reconciliation of construction draws, pipeline timing, and fund liquidity
• Monitor portfolio cash flows and coordinate with Asset Management and Investments to ensure alignment between deployment and fund capacity
• Maintain oversight of fund models to assess performance trends, validate assumptions, confirm model outputs, and disseminate key findings to investors and senior leadership
• Review and validate capital account activity and investor allocations
• Identify and elevate potential fund-level risks related to liquidity, timing, or portfolio concentration

Investor Reporting & Stakeholder Coordination

• Contribute to preparation of investor decks and reporting materials in collaboration with Investor Relations
• Support investor meetings by preparing analysis and responding to fund-specific inquiries. Present on fund financial performance, outlook, and fund strategy in investor meetings.
• Ensure timely dissemination of quarterly and annual reports to investors
• Collaborate with Investor Relations to maintain strong transparency and communication with fund stakeholders

Fund Operations, Compliance & Cross-Functional Strategy

• Coordinate closely with Investments, Asset Management, Legal, Compliance, and LISC shared services to ensure timely and accurate documentation and reporting in compliance with legal agreements, regulatory requirements, and LFM policies
• Develop, maintain, and contribute to continuous improvement of fund management processes, policies, systems, and reporting tools
• Collaborate on overall fund strategic direction for assigned funds, including cash management, distribution, fundraising, and investment allocation and structuring decisions

Team Management and Development

• Supervise and manage a Financial Analyst
• Ensure proper workload distribution and resource allocation across funds and LFM functions
• Provide ongoing performance feedback and foster professional development opportunities

Qualifications

• Bachelor’s degree in Finance, Economics, Business Administration, Accounting, or related field required; CFA, MBA, MPA, or other relevant advanced degree preferred
• Minimum 6 years of experience in fund management, private equity, real estate investment management, financial services, or community development finance
• Demonstrated experience managing fund-level financial reporting, capital accounts, capital calls, and investor reporting processes
• Strong understanding of real estate investment structures and fund economics, including waterfall calculations, capital allocations, and fee structures
• Experience working with affordable housing, impact investment funds, or place-based real estate vehicles preferred; familiarity with LIHTC, HTC, or NMTC preferred
• Advanced proficiency in Excel, including financial modeling and complex reconciliation; experience with fund accounting or financial reporting systems required
• Strong analytical and problem-solving skills, with the ability to interpret financial performance in the context of fund strategy and investor expectations
• Strong written and verbal communication skills; experience coordinating across investments, asset management, legal, compliance, and finance teams; ability to manage multiple deadlines, exercise sound judgment, operate independently, and maintain commitment to mission-driven, impact-oriented investment objectives