Director, Multi-Strategy Research & Portfolio Development

Job description

Best Workplaces™ in Canada 2022 - 2026 | Best Workplaces™ with Most Trusted Executive Teams 2024 - 2026 | Best Workplaces™ in Financial Services & Insurance 2022 - 2026 | Best Workplaces™ for Mental Wellness 2023 - 2026 | Best Workplaces™ for Giving Back 2022 & 2024 | Best Workplaces™ for Inclusion 2021, 2024, 2026 | Best Workplaces™ for Women 2021 | Best Workplaces™ in Ontario™ 2024 - 2025 | Best Workplaces™ for Professional Development 2025 , 2026 | Best Workplaces™ for Young Talent 2026 One of Canada’s Most Trusted Investment Brands. At Picton Mahoney Asset Management (PICTON Investments), being alternative isn’t just what we do, it’s who we are. Founded by industry pioneer David Picton, we’ve spent 20 years challenging conventional wisdom and redefining the investing landscape. As one of Canada’s most trusted investment brands, we are proudly independent, privately run, 100% employee-owned, and deeply committed to delivering results for our clients. Thinking Alternatively is in Our DNA. With a team of 233 bold thinkers—one-third dedicated solely to investment management—we are specialists, not generalists. Managing over $20 billion (August 31, 2026) for institutional and retail clients, we navigate markets with conviction, resilience, and a forward-thinking approach. We’re more than investors — we’re innovators. We challenge traditional investment mindsets, constantly pushing the boundaries to achieve our mission: To bring greater certainty to investors. Our success is built on four guiding principles: Treat investors’ money like our own. Redefine the way investors invest. Be human, always approachable. Succeed together, one investment at a time. These aren’t just words. They define how we think, how we invest, and how we work. Now, we’re entering our next chapter. We’re transforming our brand and reshaping the way the world invests. If you think alternatively, embrace an entrepreneurial spirit, and thrive in a dynamic, bureaucracy-free environment, join us and be part of what’s next. Thriving in Our Entrepreneurial Culture At PICTON Investments , you’ll thrive in our creative and dynamic workplace, where collaboration and support are at the core of everything we do. At our firm, you’ll have the opportunity to take on significant responsibilities, work in a flexible environment, and tackle challenging projects from the outset. Our culture is designed for ambitious professionals who want to make an immediate impact while continuing to push boundaries and achieve our greater mission. You’ll be empowered with a high level of responsibility, trust, and flexibility, providing an exciting and creative space for you to help reshape how the world views alternative investments. With competitive total rewards, performance-based bonuses, and a clear path for career growth, you’ll have everything you need to develop both now and over the longer term. The Opportunity PICTON Investments is seeking a senior investment professional to lead the identification, evaluation, and onboarding of new strategies and external managers into our Alpha Portfolio platform. This is a newly created role reflecting the firm's growth ambitions and the increasing complexity of our multi-strategy infrastructure. The successful candidate will serve as the firm's primary resource for strategy research and portfolio development — assessing new opportunities across the alternative investments landscape, evaluating them within a rigorous multi-dimensional framework, and determining the optimal structure for deployment. This role sits at the intersection of portfolio management, manager due diligence, prime brokerage economics, and operational implementation. This is a senior, high-impact role requiring a practitioner with direct experience in hedge fund operations. It is not an entry-level or purely analytical position. Key Responsibilities 1. Strategy Identification & Evaluation Source and evaluate new diversifying strategies such as equities (long/short, market-neutral pods), fixed income and credit, arbitrage, volatility, macro and commodities. Apply a structured evaluation framework assessing standalone performance and portfolio impact to existing funds. Develop and maintain a pipeline of prospective strategies and managers, with regular reporting to the investment team. 2. External Manager Due Diligence Conduct comprehensive investment due diligence on external managers, including strategy assessment, track record analysis, portfolio transparency, and risk management evaluation. Evaluate potential partnership structures including capacity-sharing arrangements, co-investment, and managed account agreements. Maintain ongoing monitoring of onboarded managers against agreed performance, risk, and operational benchmarks. 3. Portfolio Construction & Structuring Work closely with the operations and prime brokerage teams to evaluate financing costs, cross-margin eligibility, and capital deployment efficiency for prospective strategies. Contribute to portfolio-level construction decisions, including allocation sizing, leverage considerations, and capacity management. 4. Collaboration & Internal Communication Partner with the Head of Multi-Strategy, portfolio managers, and the risk team to ensure new strategies are consistent with portfolio mandates and risk framework. Present strategy recommendations clearly and concisely to the investment committee and senior leadership. Coordinate with legal, compliance, and operations teams on manager onboarding, contract negotiation, and regulatory considerations. Required Qualifications 5-7+ years of experience in the alternative investments industry, with direct exposure to hedge fund strategies, multi-strategy platforms, or alternatives manager research. Deep understanding of a broad range of hedge fund strategies, including equity long/short, credit, arbitrage, and alternative/niche strategies. Demonstrated ability to evaluate strategies on a net, risk-adjusted basis, incorporating fee structures, financing costs, and structural considerations. Strong working knowledge of prime brokerage relationships, cross-margining, and capital efficiency mechanics. Experience with both managed account and commingled fund structures, including an understanding of the operational, legal, and risk trade-offs of each. Excellent quantitative and analytical skills; ability to build and interpret models assessing risk/return and portfolio contribution. Strong written and verbal communication skills; able to present complex investment ideas clearly to senior stakeholders. Master's degree in Finance, Economics, Mathematics, or a related field. CFA designation or equivalent strongly preferred. Preferred Qualifications Prior experience at a multi-strategy hedge fund, fund-of-funds, or institutional allocator with direct manager selection responsibility. Existing relationships within the Canadian and/or global alternative investment manager community. Experience negotiating managed account agreements, side letters, and prime brokerage documentation. Familiarity with risk management systems and their limitations in the context of alternative strategy portfolios. What We Offer A senior, high-visibility role with direct influence on the strategic direction of PICTON Investments’ multi-strategy platform. Collaborative investment culture with experienced portfolio managers and a commitment to continuous improvement. Competitive compensation package commensurate with experience, including base salary, performance bonus, and benefits. Opportunity to build and shape a newly created function within one of Canada's leading alternative asset managers. Our Commitment to Employees At PICTON Investments , we take pride in enhancing our employees' experiences through a comprehensive suite of exceptional perks and programs. Our benefits include corporate fitness reimbursement and discounts, VersaFi memberships (formerly Women in Capital Markets), PICTON Investment Counseling and portfolio management services, volunteer and charitable donation matching, maternity and parental leave top-up, recognition awards, semi-annual performance bonuses, a generous annual vacation entitlement (minimum of 15 days per year), training and development reimbursement, extensive health and dental benefits, a healthcare spending account, and more. These offerings are designed to support your career growth, well-being, and overall success. Join us and thrive in an environment that values and invests in you! PICTON Investments is committed to providing an equitable and fair work environment for everyone and all hiring and other personnel actions will be taken without regard to race, colour, creed, religion, sex, disability, gender identity, gender expression, family status, age, language or national origin. We welcome applications from candidates with diverse experiences globally. Canadian experience is not required. If you require an accommodation at any point in time throughout the application and hiring process, please contact Human Resources at (416) 955-4108 or at . PICTON Investments does not accept unsolicited resumes, emails, calls, or any other form of communication from third-party recruitment agencies. Any unsolicited outreach, including commercial electronic messages, will neither be acknowledged nor considered. Please note: We use AI-assisted tools to support parts of our recruitment process, including summarizing interview notes and aligning candidate profiles with job requirements. All decisions are made by our hiring team.