Impact secondaries firm North Sky seeks investment professional

The firm is seeking a mid-senior professional as it invests its fifth fund, which closed last year on $220m.

North Sky Capital is searching for a mid-senior level professional to join its investment team.

The Minneapolis-headquartered firm is seeking someone to analyse potential investments, conduct due diligence and valuations, and source and monitor deals for its impact secondaries business, according to an advert posted on LinkedIn.

The successful candidate will have at least two years’ experience of secondaries investing. Experience buying venture capital funds is a plus, as is familiarity with impact, ESG and healthcare funds, the advert noted. A Bachelor’s degree in finance, economics or accounting is strongly preferred.

While the deadline for submissions is listed as 15 December, the ad was re-posted two days ago.

In September, North Sky held a $220 million final close on its latest impact secondaries fund Clean Growth Fund V, Secondaries Investor reported. This was against a target of $150 million and more than three-and-a-half times the amount raised for its 2016-vintage predecessor.

CG V aims to generate strong returns while creating positive environmental and social benefits. It targets buyout, growth equity and venture funds, typically in their fifth to 12th year, which invest in companies that use resources in a sustainable way, help with the transition to renewable energy or encourage better health outcomes and job creation.

“We are buying from two pools: a pre-recession pool that at its peak was $28 billion in size and now is around $4 billion and a post-recession pool that is easily $90 billion and growing rapidly,” chief executive Scott Barrington told Secondaries Investor in September.

North Sky was the private equity unit of investment bank Piper Jaffray, before spinning out in 2010. The firm has $1.4 billion in committed capital across impact secondaries and sustainable infrastructure, and secondary offices in Boston and New York.