Steinberg Asset management is seeking an experienced investor(at least three years of investment experience) to work as a senior analyst primarily on a newly launched, pioneering, environmental, global public equity fund: Sargasso Environmental. The successful candidate will have a demonstrated passion for investing and an interest in and understanding of key issues related to corporate environmentalism. The team is small and meritocratic, and we are hopeful we will be hiring a person who can rise to the role of co-portfolio manager.
While remote work is an option the successful candidate will be willing and able to work in-person in New York City regularly.
Steinberg Asset Management & the Sargasso Environmental Fund
Founded in 1982, Steinberg Asset Management, LLC (SAM), is a New York based U.S. equity investment manager.SAManditsaffiliatesmanageassetsforendowments,foundations,familyofficesandhigh-net-worth individuals. SAM’s investment style is value-oriented and opportunistic. SAM’s all-cap U.S. equity portfolio is concentrated (approximately 25 securities in a portfolio) and constructed from the bottom-up. SAM’s deep fundamental analysis is centered on understanding a security’s underlying business to accurately assess the risk/reward profile of the investment.
In July 2021 SAM launched the Sargasso Environmental Fund. Sargasso is an environmentally-led, global public equity fund which seeks to generate leading environmental impact and attractive long-term, risk-adjusted returns through investments in environmental leaders across sectors and geographies.
Sargasso’s mission is to transform “green” investing. We have observed that most sustainable strategies practice a strategy of avoiding companies with material environmental issues(e.g. investing almost exclusively in tech and healthcare) thereby limiting the impact opportunity. Further, even the best sustainable investing funds predominately hold businesses with poor environmental performance.
Sargasso invests with an emphasis on businesses that have demonstrated leading performance in addressing material environmental issues. The fund boasts a well credentialed team with deep experience in corporate environmentalism, renewable energy, and corporate strategy.
Finally, SAM serves as the manager for the Steinberg India Emerging Opportunities Fund. The Fund relies on a Mumbai based investment team that adheres to a similar bottom-up fundamental approach with a concentrated portfolio.
The Opportunity: Sr. Investment Analyst
The firm is seeking an investor with a demonstrated passion for securities and business analysis as well as environmental/ESG investing. The successful candidate will work primarily on the Sargasso fund, however there will be some cross-over with SAM’s U.S. value equity portfolio.
All investment professionals at SAM are analysts first and foremost. The successful candidate will be principally responsible for doing deep fundamental research, with a view towards making long-term (three-to-five years) investments across economic sectors and market capitalizations that exhibit exceptional risk/reward profiles.
The successful candidate will have the ability and willingness to incorporate his/her past investing experiences into the Steinberg process and philosophy. Further, we are looking for an investor who has the experience and background to draw together financial and environmental analysis.
SAM is seeking a passionate investor whose investment philosophy, work ethic, values and sensibilities create a strong cultural fit. Candidates who have a demonstrated interest in corporate environmental issues and/or ESG related issues are strongly preferred as the successful candidate will work primarily with the Sargasso Environmental Fund.
The successful candidate will:
· Have a minimum of three years of relevant finance and investing experience.
· Demonstrate analytic rigor and a passion for investing: building a compelling investment case requires a great deal of time, perseverance, patience, and detailed work.
· Havetheabilitytosynthesizelargeamountsofdataandinformationonmarketsandcompanies quickly into clear, concise, actionable communications.
· Demonstrate outstanding written and verbal communication skills. SAM believes strongly that the abilitytoexpressideasclearlyandsimplyisevidenceofunderstanding.Thesuccessfulcandidatewill be able to clearly and concisely articulate key investment points that frequently lead to good investment decisions.
· Have a collaborative working style: comfortable working as part of an investment team where successes and failures are shared.
· Have a desire to learn and develop within SAM’s framework: Open and receptive to feedback and a willingness to incorporate other points of view.
· Possess a strong intellectual curiosity that results in thoughtful and differentiated investment views that are well researched and substantiated.
· Be resourceful: To develop and maintain an independent investment perspective SAM does not rely on consultants or sell-side research.
The investment process is focused on determining the strength of a company’s strategic position, long-term earnings power, financial posture, sustainability of free cash flow and/or the value of its underlying assets.
Analysts engage in deep research including conversations and meetings with managements to develop an understanding of a business and its key drivers.
A written thesis that clearly and concisely explains underlying assumptions and effectively distills the analytic work to key investment conclusions is central to the process. Building proprietary models which “break apart” the business into its component parts (in a way that the sell-side and the company itself may not) is an essential tool to understand from where and how the business generates its earnings and cash flow.
Compensation will be competitive and based on the candidate’s level of experience and stage of development. Economic participation in the Sargasso environmental fund will be considered consistent with the contribution made by the Senior Analyst.