Investment Associate

Job Description

Job Description

Position Investment Associate Department Investments Location Philadelphia, PA (In-Office) Travel As needed for site visits & industry events Timeline Fall 2026
Clay Cove Capital is a real estate private equity firm that builds niche real estate platforms. We target categories with durable supply/demand dynamics, fragmented ownership, and high barriers to entry where real estate and operations are deeply intertwined. By assembling institutional-quality portfolios in partnership with trusted operators, we capture both real estate income and platform value.

Drawing on our decades of real estate investing experience and participation in transactions totaling over $50 billion, we source differentiated opportunities across the U.S. As a member of the team, you will play an important role in the entrepreneurial process of scaling a real estate private equity firm.

Job Description: Investment Associate

As Investment Associate, this role will play a central role in analyzing, underwriting, and scaling Clay Cove's real estate and operating-platform investments. Reporting to the Chief Investment Officer, the Associate will work across platform development, investment evaluation, and execution: pressure-testing underwriting, coordinating diligence, and supporting capital deployment as the firm builds institutional-quality real estate and operating platforms.
The Investment Associate will work closely with senior investment professionals while also engaging directly with external stakeholders, including operating partners, investors, lenders, brokers, and consultants throughout the investment lifecycle. In this role, the Associate will take increasing ownership over underwriting and diligence workstreams and will provide day-to-day guidance and review of Analyst-level work product, ensuring analytical rigor and consistency with firm standards.Primary Responsibilities

• Financial Modeling & Valuation: Lead and review financial models for real estate investments at the asset and portfolio level, including cash flow projections, debt structures, cap rate analysis, and sensitivity analysis; refine underwriting assumptions with senior professionals.
• Investment & Portfolio Analysis: Evaluate operating company investments using enterprise valuation, cash flow projections, working capital assessment, and scenario modeling to assess platform-level risk-return profiles.
• Market & Competitive Research: Conduct in-depth market and industry research across comparable transactions, geographic fundamentals, sector trends, and competitive landscapes; synthesize insights for underwriting and Investment Committee materials.
• Origination & Buy-Box Strategy: Help define and refine buy-box criteria and acquisition strategies across target sectors and platforms, translating market research and portfolio priorities into clear sourcing parameters for the internal team and broker network.
• Due Diligence Execution: Coordinate and execute defined diligence workstreams across financial, commercial, and operational diligence; review financial statements, operating metrics, third-party reports, and key risk factors.
• Asset-Level Underwriting: Take increasing ownership of underwriting and diligence workstreams across real estate and operating platform investments.
• Investment Committee Materials: Prepare and maintain investment memoranda through Clay Cove's multi-stage review process.
• Investor & Partner Presentations: Prepare investment presentations, pitch decks, and transaction materials for internal and limited partner review.

AI & Analytical Rigor

As Clay Cove builds AI directly into its investment processes, the Investment Associate will help translate that ambition into repeatable practice: strengthening data aggregation and tracking, and building cumulative intelligence from the underwriting and diligence process, not simply automating individual modeling tasks. Because Clay Cove's niche strategies depend on manual modeling skill and the ability to develop proprietary underwriting models, that manual craft comes first; automation is layered in afterward to support scaling and repeatability, not to replace it. The same discipline applies to the underlying data: the Associate is expected to prioritize the quality and structure of data inputs before layering in AI-assisted intelligence and visualization, so that any insight the tools produce is one the team can trust and act on.

Qualifications

Minimum Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Real Estate, or a related field; MBA or MS in Finance preferred
• 4+ years of professional experience in an analytical role within real estate private equity, institutional real estate investing, investment banking, private equity, or a closely related investment-oriented environment
• Advanced financial modeling, including corporate and real estate valuation, cash flow projections, and scenario and risk-return analysis
• Advanced proficiency in Microsoft Excel and the Microsoft Office Suite; experience with CoStar and Green Street preferred
• Ability to independently structure analyses, identify key risks, and generate actionable investment insights
• Strong time management skills with the ability to deliver high-quality work across multiple concurrent workstreams
• Strong written and verbal communication skills
• AI fluency, paired with genuine interest in staying current on and implementing emerging analytical tools and technology

Reporting & Collaboration

Reports To Chief Investment Officer Direct Reports Oversight of Analysts Works Closely With Internal: Asset Management, Investment Operations
External: Senior Investment Professionals, Operating Partners, Investors, Lenders, Brokers, Consultants & Advisors Committee Participation Investment Committee (support role)

Total Rewards

We offer a competitive, holistic package of total rewards designed to recognize your time, talents, and impact. Along with a competitive base salary, this role is eligible for a discretionary annual bonus. Consistent with our "Be an Owner" philosophy, this role is also eligible to participate in the firm's carried interest and long-term incentive programs, offering meaningful upside in the value the platform creates as it scales; specific terms are governed by the applicable fund and plan documents. Eligible employees also have access to a comprehensive benefits package, including:

• Professional Development: a company-sponsored professional development stipend for approved development expenses
• Medical, Dental & Disability coverage, in accordance with plan terms
• Paid Time Off (PTO) Policy, as governed by the Employee Handbook

Company Values

Forge Your Path: We believe in the power of individual initiative. Your growth and our firm's success are intertwined. Take risks, seize opportunities, and don't wait for permission to lead.
Stay Humble: True strength lies in openness to new ideas and respect for different viewpoints. Listen intently, learn constantly, and remember that mutual respect drives our collective success.
Be An Owner: Approach every challenge, big or small, with the dedication of an owner. Take pride in your work, own your decisions, and never settle for "good enough." Accountability is everything.
Embrace Change: Question assumptions, challenge the status quo, and continuously expand your knowledge. Your relentless pursuit of what's next keeps us ahead in a fast-changing world.
Customer First: Our investors and operating partners are our customers. Anticipate their needs, align our interests, and consistently deliver outsize value. Their success defines our own.

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