Associate, Private Equity

ABOUT US

We’re one of Canada’s largest pension investment managers, with CAD$264.9 billion of net assets as of March 31, 2024.

We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. 

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

EXPERIENCE THE EDGE

At PSP, we encourage our employees to grow, forge powerful relationships, contribute and fuel inspired investment launchpads. We are committed to a culture that fosters collaboration and allows us to think beyond, in an interconnected way. We advocate for our employees to speak-up, learn, experiment, share, and be part of an inclusive work environment where diversity is embraced.

Please note that the deadline to submit your application is March 7, 2025. The advertising will be removed after this date. Thank you.  

ABOUT THE TEAM

Our purpose is to combine a pursuit of industry-leading returns with a commitment to social responsibility. In the North American Private Equity team, this is reflected in a high-quality investment portfolio that has grown over the past several years. Private Equity (“PE”) builds strategic relationships with external fund managers and investment partners, leveraging their networks and sector and geographic expertise to source co-investment opportunities. Our portfolio today consists of investments in a number of companies including, but not limited to: Alix Partners, Convex Group, CrossCountry Consulting, SitusAMC, Lytx, Amwins, Learning Care Group, Alliant, Havea, United Talent Agency and PKF O’Connor Davies.

Our team’s ambition is to be one of the most exciting places to work at, combining teamwork, passion for what we do, care for the global ecosystem and a very high drive for results.

We respect work-life balance and encourage flexible working.

ABOUT YOUR ROLE

The Associate’s role is key to the PE team on all aspects of the PE investment process and portfolio monitoring (including origination, analysis, execution and asset management) for both co-investments and fund investments.  

Our co-investment investment style usually entails partnering with leading private equity funds by becoming one of the larger limited partners in the fund and then i) acquiring significant minority stakes with active governance in underlying portfolio companies (our co-underwrite strategy) and/or ii) investing small minority stakes on a passive basis (our syndicated strategy).

Workdays are highly variable and offer extensive opportunities for growth, from leading co-underwrite transactions, working on syndications and investing in top tier private equity funds across different sectors, geographies and growth stages. Furthermore, with relatively small deal teams, the Associate will be expected to have a wide range of responsibilities and opportunities to make an impact on transactions.

The position is located in our Montreal office, with a focus on North American transactions and partners, with opportunities to also contribute on European and Asian opportunities and entitles traveling.

As an Associate, Private Equity, your responsibilities will broadly cover the following:

• Perform preliminary analysis of potential co-investment and fund opportunities – company and market research, financial and valuation analysis, sector mapping, meetings with prospective partners and advisors, fund track record analysis, industry expert interviews, etc.

• Assist in due diligence – support the team across the various due diligence workstreams on live transactions, helping to assess key investment merits and risks (including commercial, financial, tax, structuring, ESG and other workstreams)

• Build and/or review financial models, including extensive business plan and LBO analysis

• Prepare and present investment recommendation memorandums and other internal/external materials

• Mentor and train junior analysts, providing guidance on financial modeling, investment analysis, and industry research to foster their professional development and enhance team performance

WHAT YOU’LL NEED

Professional Requirements

• Excellent academic credentials; a business, economics or scientific degree is preferred, but other degrees will also be considered

• Two (2) to four (4) years of experience within investment banking (Leverage Finance/M&A), management consulting, accountancy, or direct investment environment, with relevant exposure to transactions and investment analysis

Knowledge & Skills

• Strong analytical and quantitative skills, with full proficiency in financial modelling (both operating and LBO)

• Understanding of corporate finance and key accounting principles

• Good commercial judgment and critical thinking skills

• Excellent communication skills, with ability to articulate and present facts and ideas effectively both verbally and in writing

• Good communications skills in English and French (or willingness to learn) (regular interactions in English with investment partners based outside of Quebec Example: peers, bankers, brokerage firms, etc. and PSP employees in our offices in Hong Kong, London and New York, and interactions in French with employees in our local offices in Montreal and Ottawa) 

Cultural Fit

• Integrity and drive to make an impact

• Proactive attitude and deep sense of ownership and initiative

• Collaborative, mature, low ego and willingness to have some fun at work

We offer a tailored employee experience and competitive total rewards and benefits package* designed to attract and retain global diverse talent, reward performance, and reinforce business strategies and priorities. Beyond salary and incentive pay eligibility, you have access to:

• Investment in career development

• Comprehensive group insurance plans

• Competitive pension plans

• Unlimited access to virtual healthcare services and wellness programs

• Gender-inclusive paid family leave policy: up to 26 weeks for primary caregivers, 5 weeks for secondary caregivers

• A personalized family-building support, from pre-pregnancy to menopause, with available financial assistance

• Vacation days available on day one with additional days on milestone service anniversaries, and summer Friday afternoons off

• A hybrid work model with a mix of in-office and remote days

*Benefits package may vary based on your employee type.

At PSP, we aim to provide an inclusive workplace where we leverage diversity and where everyone feels valued, safe, respected and empowered to grow. As part of this leadership commitment, we strongly encourage applications from all qualified applicants and strive to offer an inclusive and accessible candidate experience. If you require any accommodation for any part of the recruitment process, please let us know.

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