Managing Director, Portfolio Management, Private Equity Real Estate (Residential focused)

May 14, 2026 Auto Import

<h2 class="jdheading"> What You'll Do</h2> We are seeking a Managing Director, Portfolio Management to join our Retail & Residential team. In this role, you will lead our residential portfolio as well as provide additional support for retail investments, guiding portfolio strategy and execution for one of our more complex institutional real estate portfolios, helping maximize performance while aligning with the objectives of a large institutional pension client. This position blends investment judgment, client leadership, portfolio oversight, and leadership, with meaningful influence on strategy, transactions, and long-term portfolio construction. Strategic Planning & Portfolio Strategy <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="1" data-aria-level="1">Shape and help drive residential portfolio strategy Translate strategic direction into executable plans through operating partners and investment structures </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="2" data-aria-level="1">Support development of new investment vehicles and structures designed to deliver strong risk-adjusted returns </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="3" data-aria-level="1">Procure and negotiate agreements with operating partners, joint venture partners, and institutional counterparties </li></ul>Client Leadership & Market Engagement <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="4" data-aria-level="1">Serve as a senior client‑facing leader and trusted advisor to institutional investors. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="5" data-aria-level="1">Represent the firm with operating partners, brokers, and industry participants across the residential sector. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="6" data-aria-level="1">Maintain deep awareness of residential market trends and translate insights into portfolio actions. </li></ul>Portfolio Management & Investment Oversight <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="7" data-aria-level="1">Oversee a large, complex institutional residential real estate portfolio with a primary focus on multi‑family and manufactured housing investments. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="8" data-aria-level="1">Direct execution of value‑creation strategies across operating platforms and assets. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="9" data-aria-level="1">Review and approve investment decisions, capital allocations, and transaction recommendations for underwriting discipline, portfolio fit, and risk alignment. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="10" data-aria-level="1">Provide leadership on transaction structuring, pricing, and portfolio‑level impacts. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="11" data-aria-level="1">Represent the institutional client on management, investment, and governance committees. </li></ul>Valuation, Risk & Reporting <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="12" data-aria-level="1">Partner with internal and external valuation consultants to execute portfolio valuation policy </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="13" data-aria-level="1">Ensure consistency, analytical rigor, and compliance with regulatory and audit requirements </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="14" data-aria-level="1">Oversee preparation and delivery of clear, decision‑oriented reporting for institutional clients and senior internal stakeholders. </li></ul>Leadership & Mentorship  <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="15" data-aria-level="1">Mentor and develop investment professionals across the team  </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="16" data-aria-level="1">Promote high standards of analysis, accountability, and collaboration  </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="17" data-aria-level="1">Contribute to a culture of strong performance and continuous development  </li></ul> <h3 class="jdheading">Who You Are</h3> <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="1" data-aria-level="1">Bachelor’s degree in finance, business, or related field; real estate focus strongly preferred. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="2" data-aria-level="1">15+ years of commercial real estate experience with deep residential portfolio management expertise, ideally within an institutional environment (allocator, operator, or GP). </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="3" data-aria-level="1">Proven success supporting institutional clients, including pension plans, and serving as a senior client‑facing investment leader. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="4" data-aria-level="1">Demonstrated ability and track record of structuring, negotiating, and governing joint venture investments with third‑party operators. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="5" data-aria-level="1">Strong background in residential investment strategy, portfolio construction, and risk management. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="6" data-aria-level="1">Experience across acquisitions, asset management, and portfolio oversight. </li></ul>Skills That Will Help You Stand Out <ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="7" data-aria-level="1">Experience with complementary residential sectors such as senior housing, student housing, or manufactured housing. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="8" data-aria-level="1">History of influencing portfolio‑level decisions and capital allocation at scale. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="9" data-aria-level="1">Exceptional communication and presentation skills with institutional investors, consultants, and boards. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="10" data-aria-level="1">Proven leader with a track record of developing high‑performing investment professionals. </li></ul><ul style="margin: 0px; padding: 0px; font-family: verdana;"><li style="margin: 0px 0px 0px 24px; padding: 0px; font-size: 11pt; font-family: Arial, Arial_MSFontService, sans-serif;" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="4" data-list-defn-props="{" 335552541":1,"335559685":720,"335559991":360,"469769226":"symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridmultilevel"}"="" data-aria-posinset="11" data-aria-level="1">Willingness to travel regularly to assets, operating partners, and client meetings. </li></ul> <h2 class="jdheading">Salary Range Information</h2> Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. <h3 class="jdheading">Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)</h3> $242000 - $300000 / year Salary Details CompensationThe base salary range for this role is $242,000 – $300,000 as indicated above. Final compensation will be determined based on skills, experience, and alignment with the role’s responsibilities. In addition to base pay, this role participates in an annual profit share bonus plan. <h3 class="jdheading">Time Off Program</h3> Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided. <h3 class="jdheading">Pension Eligible</h3> No Location(s)We’re open to considering remote talent or in-office talent working out of our office locations in Des Moines, Charlotte, Chicago, Denver or New York City.<h2>Work Authorization/Sponsorship </h2>At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.<a href="https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers" target="_blank" rel="noopener">Nonimmigrant Workers</a> and <a href="https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants" target="_blank" rel="noopener">Green Card for Employment-Based Immigrants</a><h2>Investment Code of Ethics </h2>For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.<h2>Experience Principal </h2>At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our <a href="https://www.principal.com/about-us/careers" target="_blank" rel="noopener">careers site</a> to learn more about our purpose, values and benefits.<h2>Principal is an Equal Opportunity Employer </h2>All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.<div style="display: none;"><video id="localVideo" class="iCIMS_FrameMedia" width="300" height="150"></video><video id="localVideo1" class="iCIMS_FrameMedia" width="300" height="150"></video></div> <h3 class="jdheading">Posting Window</h3> We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline. <h4 class="jdheading">Original Posting Date</h4> 5/12/2026 <h4 class="jdheading">Most Recently Posted Date</h4> 5/12/2026 LinkedIn Remote Hashtag #LI-Remote

Back to blog