Careers

Job Type: Full-Time
Wage/Salary: Dependent on experience
Location(s): Chicago, IL

Summary

A successful candidate will be expected to contribute in the following ways:

• Work with the third-party administrator (“TPA”) on a daily basis to ensure a.) the books and records of the funds are maintained completely and accurately b.) financial reporting is carried out on a timely basis in accordance with US GAAP; and c.) investor reporting is completed timely and accurately.
• Perform cash management activities such as sending wires for investment company purchases and fund expenses, confirming wire instructions, requesting draws and paydowns on the funds’ lines of credits, and reconciling capital calls.
• Assist in preparation of financial statement audits and regulatory compliance reporting.
• Review investor K-1s and other tax reporting and filings.
• Complete preparation and analytical review of weekly and monthly fund performance and investor reporting.
• Support investment and client service personnel on ad-hoc requests.
• Assist in special projects as requested.

Education & Experience Requirements

• Bachelor’s Degree in Accounting/Finance
• Post-graduate work: CPA
• 2-3 years of experience working for financials services or top-tier accounting firm, with specialization in investment partnerships, hedge fund of funds, mutual funds or private equity.
• Excellent verbal, written, analytical, and organizational skills.
• High computer proficiency including MS Office (Word, Excel, Outlook), Adobe, CRMs, task management systems, portfolio management systems, etc.
• Solid understanding of investment strategies across equities, fixed income, hedge funds, private equity, and real estate.
• Exposure to financial reporting, auditing and tax.
• Ability to work autonomously. Reliable, sees things through to completion.
• Team Player: Able to work with guidance from multiple professionals, prioritize workflow, and deliver on expectations.
• Multi-tasking, time management skills, and being able to juggle various projects is very important.

Job Type: Full-Time (Summer 2026 Start Date)
Wage/Salary: Dependent on experience
Location(s): Chicago, IL

Summary

The Research Analyst role at First Trust Alternative Investment Research (“FT AIR”) is focused on supporting all aspects of the investment due diligence efforts with respect to the firm’s alternative investment mandates. FT AIR focuses on executing fund and direct investments across the entire alternative investment market including hedge fund, private equity, venture capital, real estate, and private credit investments. The Research Analyst engages in detailed qualitative and quantitative analysis of a range of alternative investments and is responsible for conveying their findings effectively to the firm’s broader investment team. This role requires analytical and technical skills as well as verbal and written communication skills. The Research Analyst role sits within the twenty-person investment research team of FT AIR.

Responsibilities

• Perform qualitative and quantitative assessments of alternative investment managers and strategies
• Participate in calls and meetings with existing and prospective alternative asset managers
• Compile and distribute formal written notes related to existing and potential investment meetings
• Function as a point of contact for the investment team with prospective and existing portfolio investments
• Perform ad hoc statistical analyses of fund risk exposures
• Support the creation of broader investment committee recommendations
• Lead the effort to maintain updated firm and fund materials with respect to existing investments
• Provide analytical support to evaluate existing client portfolio investment performance
• Responsible for maintaining and improving current investment due diligence work-flow processes
• Provide operational and investment support for internally managed portfolios
• Assist in various ad hoc research projects related to new product development
• Participate in the creation of market/industry commentary for firm marketing efforts
• Support the sourcing of new liquid and alternative investment strategies

Requirements

• 0-2 years of relevant work experience in investment banking, asset management, or related field
• Excellent undergraduate academic record
• Interest in or progress toward the CFA designation a plus
• Interest in understanding hedge fund, private equity, private credit, and real estate strategies
• Effective communicator, both written and verbal
• Strong grasp of statistics used in financial analysis
• A demonstrated high level of analytical/quantitative skill
• Passion for the alternative asset management industry
• Ability to manage simultaneous projects, often with time constraints
• Self-motivated and highly curious
• A willingness to travel both domestically and internationally up to 25% of the time

Technical/Systems Skills

• Proficient in: Microsoft Excel, Power Point, and Word
• Experience with: Bloomberg, Morningstar, Preqin, eVestment/Pertrac, LightKeeper, Enfusion a plus

First Trust Capital Management (“FTCM”) is a privately-owned alternative investment research and asset management firm that advises investment advisors, family offices, and high net worth individuals. FTCM was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized alternative investment solutions and a streamlined operational experience when investing in private and liquid alternatives.

FTCM houses a specialized business unit called FT Alternative Investment Research. This dedicated investment research team operates as a supportive unit to our advisor clients as well as a resource for a select group of institutional clients and family offices. The sole purpose of this dedicated team is to find investment solutions to enhance client portfolios. In 2024, FT AIR:

• Performed initial review of 500 investment strategies and opportunities
• Made 12 new primary fund commitments and closed on over 60 direct transactions
• Participated in over 25 capital introduction events and attended 15 top-tier industry conferences

Investment due diligence covers all asset classes and strategies, wherein the Research Team maintains a proprietary database of portfolio managers and all related correspondence. Importantly, the Research Team does not perform database screens to identify prospective portfolio managers. The vast majority of currently sourced funds and strategies have come through our extensive network and reach within the investment community as opposed to any screening process. We perform ongoing due diligence on our approved managers to ensure that are adhering to their style, process and investment mandate.

Department: Research
Area of Responsibility: ODD
Position Reports to: Director of ODD

Summary

The Associate role at First Trust Alternative Investment Research (“FT AIR”) is focused on supporting all aspects of the operational due diligence efforts with respect to the firm’s hedge fund, private equity, venture capital, real estate, private credit, and liquid alternatives investments and related co-investment opportunities. The Associate will be responsible for supporting our Director of ODD and team in a variety of day-to-day tasks and ongoing investment projects. This role requires analytical and technical skills as well as verbal and written communication skills. Our ideal candidate is an intellectually curious, detail-oriented, passionate, and ambitious professional with a keen interest in the alternative assets industry who desires a long-term and successful career within Investment Management and First Trust Capital Management (“FTCM”). The Associate role sits within a 22 person investment research team of FT AIR.

Responsibilities

• Participate in the due diligence of fund managers, perform independent analysis, documenting findings and make investment-related recommendations for new perspective managers and as part of the ongoing monitoring process for existing relationships.
• Additionally, the Associate will perform operational due diligence on co-investments and direct investments as opportunities arise.
• Documentation of ODD calls and preparation of Investment Committee memos.
• Create summary reports, evaluate, assess, and provide an opinion on the depth and effectiveness of individual fund manager’s back-office operations and pricing procedures among other process areas.
• Review legal and marketing documents including offering memorandums, due diligence questionnaires, audited financial statements, Form ADVs, and policy & procedures documents among other agreements.
• Interact with internal teams as appropriate, including Investment Due Diligence, Legal/Compliance, Operations, and Accounting as needed.
• Support a team atmosphere including idea sharing, learning, and back-up.
• Remain abreast of industry trends, regulatory matters, and market events affecting funds, managers, clients, and the industry.
• Perform project work or other responsibilities as directed by the Director of Operational Due Diligence.
• Assist the team in preparation for travel and on-site meetings with fund managers & ex-post documentation.

Requirements

• Accounting and/or Finance major preferred
• 3-4 years of relevant work experience, specifically in a public accounting role auditing funds and/or financial services or industry experience in evaluating and reviewing fund managers
• Intellectual curiosity and a passion for learning about alternative funds and investment strategies
• Strong writing skills are required since a critical component of the job is documenting manager reviews and making investment recommendations
• Excellent organizational and communication skills as well as the ability to thrive in a team environment
• Attention to detail and ability to see projects through to completion
• Familiarity with different alternative investment funds strategies is a plus. Working knowledge of alts assets classes including hedge funds, private equity, real estate, interval funds and tender funds
• Working knowledge of equities, debt instruments, futures, forwards, swaps, real estate, CLOs, options amongst a host of other financial instruments
• CPA or CFA is a plus – or working towards
• Candidates with a background in technology are viewed favorably
• A willingness to travel up to 15% of the time

First Trust Capital Management (“FTCM”) is a privately-owned alternative investment research and asset management firm that advises investment advisors, family offices, and high net worth individuals. FTCM was created on the belief that an independent firm was the best way to ensure our clients were served with their greatest interests in mind – both in terms of customized alternative investment solutions and a streamlined operational experience when investing in private and liquid alternatives.

FTCM houses a specialized business unit called FT Alternative Investment Research. This dedicated investment research team operates as a supportive unit to our advisor clients as well as a resource for a select group of institutional clients and family offices. The sole purpose of this dedicated team is to find investment solutions to enhance client portfolios. In 2024, FT AIR:

• Performed initial review of 500 investment strategies and opportunities
• Made 12 new primary fund commitments and closed on over 60 direct transactions
• Participated in over 25 capital introduction events and attended 15 top-tier industry conferences

Job Type: Full-Time (Summer 2026 Start Date)
Wage/Salary: Dependent on experience
Location(s): Chicago, IL

Firm

First Trust Capital Management L.P. (“FTCM”) offers a curated spectrum of alternative investments across private equity, venture capital, hedge funds, real estate, and private credit. These solutions are offered in a variety of structures across the accreditation and liquidity spectrums including interval funds, tender offer funds, private funds, and direct investments to financial professionals, family offices, and institutions. 

Role

We are seeking a talented and motivated Software Engineer to join our Technology team, focusing on the development and enhancement of Client Data Applications and Customer Relationship Management (CRM) Solutions that support our client-facing teams. This role is integral to driving client engagement, operational efficiency, and data-driven decision-making across the firm. 

Key Responsibilities

• Collaborate with the team and stakeholders to understand requirements, evaluate the tasks and translate them into technical solutions. 
• Develop, enhance, and maintain Client Data Application and CRM functionalities using technologies such as Microsoft Dynamics 365, Salesforce, or custom-built platforms.
• Develop, maintain and enhance applications used internally and by various clients of the firm (client services, research, financial advisors, etc).
• Integrate reporting solutions and dashboards to improve process reliability and visibility.
• Build and maintain APIs, data pipelines, and workflows that ensure accurate and timely client data delivery.
• Participate in code reviews, testing, deployment, and documentation following agile development practices.
• Monitor and resolve issues related to system performance, data accuracy, and user experience.
• Follow the team best practices and coding standards. 

Required Qualifications

• Bachelor’s degree in Computer Science, Information Systems, or a related field.
• 4–5 years of professional software engineering experience, preferably in the financial services or asset management industry.
• Knowledge of C# and the .NET environment and database querying (SQL).
• Familiarity with REST API, Dependency Injection and Middleware development.
• Understanding of data privacy and compliance requirements in a financial context.
• Excellent problem-solving and communication skills. 

Preferred Qualifications

• Experience with cloud platforms (Azure, AWS, or GCP).
• Familiarity with DevOps and Git.
• Html, Javascript and CSS knowledge is a plus.
• Knowledge of investment products, client onboarding, or institutional sales workflows.