Description

COMPANY OVERVIEW: 

The Zell Family Office (ZFO) is a division of Chai Trust Company LLC, a private Illinois trust company which has served the needs of Sam Zell and his family for decades.  ZFO was created in 2022 to provide a suite of services to three generations of Zell family members. ZFO goes beyond traditional wealth and capital management, focusing on helping the family to flourish in all aspects of life. Its services include investment management of a complex and significant set of investment portfolios and assets, accounting and reporting, tax, treasury and trust, and legal and compliance. ZFO fosters the family’s human capital development through learning and governance support. Every part of ZFO is dedicated to protecting and growing the family’s human and financial capital and supporting the family’s legacy.

For more information, visit www.zellfamilyoffice.com 

POSITION OVERVIEW: 

The Zell Family Office (ZFO) is seeking a Senior Associate, Investments to support the development and management of multi-asset portfolios for family trusts, foundations, and personal accounts. The Senior Associate will serve as a generalist, requiring the ability to work across asset classes—including public equities, private equity, venture capital, and alternatives—while collaborating with internal teams and external partners. The Senior Associate will be deeply involved in manager sourcing and due diligence, portfolio analysis, and investment committee communications. Success in this role requires intellectual curiosity, strong analytical and communication skills, and a collaborative, team-oriented mindset. The ideal candidate will bring experience from a family office, endowment, foundation, pension plan, fund of funds, or similar institutional environment, and will be passionate about contributing to a culture of positive intent, respect, and continuous learning.

PRIMARY RESPONSIBILITIES:

Sourcing & Due Diligence

• Source, screen, and maintain a pipeline of investment managers and opportunities across asset classes. 
• Lead and participate in manager calls, conducting thorough due diligence by asking insightful questions and evaluating managers’ teams, investment processes, risk management, and portfolio construction. 
• Assess managers investing in individual companies (public or private), focusing on their ability to generate repeatable long-term returns through qualitative and quantitative analysis of performance and underlying investments. 
• Translate prior experience in manager diligence and sourcing to ZFO’s process, adapting best practices and lessons learned from previous roles.

Portfolio Management & Analysis

• Support strategy development, portfolio construction, investment selection, cash management, and risk management through rigorous research and reporting.
• Monitor portfolios for adherence to mandates, house limits, and strategic constraints; actively track performance, turnover, and portfolio efficiency.
• Measure and manage risk, leveraging modeling and analytical tools (Excel, portfolio management platforms) to evaluate exposures and performance attribution.
• Assist with the liquidation or monetization of private investments as needed.

Investment Committee & Client Communication

• Prepare and present investment committee memos, synthesizing due diligence findings and recommendations for new investments.
• Communicate effectively in writing and presentations, ensuring clarity and professionalism in all materials delivered to internal and external stakeholders.
• Participate in quarterly calls with managers to discuss portfolio performance, extracting key information and ensuring managers are investing capital in line with ZFO’s expectations.
• Collaborate with internal teams (accounting, tax, legal, family engagement and learning) and coordinate communications with external partners (GPs, asset managers, brokers).

Operational Support & Continuous Improvement

• Work with the operations team to develop and maintain reports that analyze fund and portfolio-level exposures (including sector, geographic, leverage, underlying positions, etc.), risk metrics, liquidity, and performance attribution
• Maintain benchmarks, monitor trading activity, and review external service levels.
• Lead or support special projects, process improvements, and continuous learning initiatives.
• Contribute to a collaborative, high-performing team culture
• Uphold the family’s reputation for professional excellence, integrity, and community responsibility.

REPORTS TO:              Principal or Managing Director, Investments (Zell Family Office)

Requirements

QUALIFICATIONS:                                                             

Education/Experience

• Bachelor’s degree in finance, economics, accounting, business administration, or related field; MBA, CFA, or similar professional designation preferred.
• Minimum 4+ years of experience in investment banking, private equity, asset management, family office, endowment, foundation, pension plan, fund of funds, or similar institutional environment.
• Experience conducting investment due diligence—either on direct companies or funds—and manager sourcing, with a preference for candidates with public equities, private equity, or venture capital experience.
• Strong proficiency in Excel and financial modeling; experience with portfolio management tools and third-party research platforms (Morningstar, Bloomberg, FactSet, Thomson Reuters).
• Demonstrated ability to manage multi-asset portfolios, conduct due diligence, and oversee third-party managers.
• Previous direct or co-investing experience at a buy-side firm is a plus; operational experience in investment diligence is highly valued. 
• Must have a good foundational understanding of financial markets and trends and a passion for investments.
• Knowledge of investment products is essential.

Other Qualities and Characteristics

• Intellectually curious, eager to learn, and motivated to achieve success.
• Strong analytical, quantitative, and qualitative skills, coupled with sound judgment.
• Excellent communicator (verbal and written), with exceptional interpersonal and presentation skills, including experience presenting to Boards and committees.
• Team player who asks questions, treats others with respect, and is thoughtful about colleagues and stakeholders.
• Adopts a professional, collegial approach; builds trust within the team and operates for the best of the group.
• Assumes positive intent and contributes to a culture of respect and collaboration.
• Highly collaborative and adaptable; able to thrive in a dynamic, entrepreneurial environment.
• Highest standards of personal and professional ethics, discretion, and integrity.
• Generalist mindset—open to sourcing ideas and working across asset classes; not limited to a single investment type.