Capital Dynamics logo


To apply, please email your resume and any additional information to

About Capital Dynamics:

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries, co-investments), private credit, and clean energy. Established in 1988, the Firm has extensive knowledge and experience raising closed-ended funds and developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors.

As of Q4 2022, Capital Dynamics oversees more than USD 14 billion in assets under management and advisement, and employs approximately 160 professionals globally across 14 offices in Europe, the Middle East, North America, and Asia.

Department Overview:

The Fund Operation team selects, coordinates and monitors external service providers that are involved in the day-to-day operations of the funds and products offered by Capital Dynamics in particular auditors, fund administrators and tax advisors (amongst others). It also works closely with other internal teams like Client Relations, Investment Management, Product Development, Sales, Legal and Compliance in understanding and defining service and reporting requirements for CD funds and clients as well as bringing to market new products. The team currently consists of 6 persons based in the New York, Milan and Zug.

Global secondaries acquires limited partnership interest in established, high quality, mature leveraged buyout, growth capital and certain established venture capital funds and managers. The team’s differentiated approach focuses on smaller and more complex secondary transactions on a global basis, including fund restructuring, tail-end wind-down transactions, and preferred interest structures. The deal sourcing and due diligence advantages that come with an established PE platform make the secondaries team a valuable partner.  Team members are based in New York, London, Zug, Milan and Hong Kong and embedded in our global private equity investment management team.

Role Purpose:

Capital Dynamics is seeking an Associate to join our Fund Operations team. The purpose of the role is to support the Secondaries team in fund operations, reporting, ESG and risk management matters, liaising with portfolio servicing provider Colmore as necessary, as well as supporting the preparations of marketing materials and handling of client request in collaboration with our product marketing and client servicing departments.  

Tasks and Responsibilities:

For all dedicated secondaries funds/mandates (four at present, to succeed in this role, you will:


• Prepare quarterly fund reports for investors, liaising with Colmore

• Prepare Webcast and annual investor meeting materials

• Prepare ESG Reporting including outreach to the GPs

• Review quarterly unaudited and annual audited fund financial statements

• Assist with audit inquires where necessary

Portfolio and risk management

• Prepare quarterly risk reports, liaising with the firm’s chief risk officer

Treasury and liquidity management

• Maintain the analysis of funds’ commitment capacity

• Maintain the liquidity of the funds

• Work with Colmore re. preparation of periodic capital call and distribution notices

• Work with Colmore re. use of the funds’ liquidity facility, including draw-downs and repayments, optimizing fund IRR having regard to facility headroom and utilization;

• Review quarterly management fee computations and approve fund expenses

Marketing and investor interaction

• Assist the preparation of marketing documentation for fundraising meetings

• Assist the product development and strategy team in updating fundraising materials and responding to requests for proposals

• Ensure compliance with investor side letters, liaising with the firm’s in-house legal and client relations functions

• Assist with responding to ad hoc enquiries from investors, liaising with the firm’s client relations function

Investment operations

• Maintain the Deal Log, update and manage Deal Cloud

• Maintain the process control spreadsheet

• Prepare Fund Handover Forms post-closing of an investment

• Maintain deal related data such as discounts/classifications, etc.

• Complete market surveys

This description is for guidance purposes only. You may be required to fulfil additional roles and perform additional duties as required from time to time.

Skills, Education & Qualifications:

To succeed in this role, you should have:

Skills & Experience:

• At least four to six years’ relevant experience in fund accounting, fund management, valuation or auditing from a reputable accounting firm and/or asset manager;

• Proven knowledge and of the Private Equity industry and preferably also with Secondaries markets in particular;

• Investment experience preferred but not required;

• Advanced Microsoft Office skills: Word, PowerPoint, Outlook and Excel.

Education & Qualifications:

• Bachelor’s degree in applicable field;

• CFA qualification is a plus, but not essential.


• Must be fluent in English and display superior verbal/written communication skills; and

• German, Italian, French, Korean or Japanese language skills a plus but not required.


Apart from being a team player, high energy level, self-starter, quick grasp, you will have…

• Highly developed quantitative skills (financial analysis, modelling, valuation and reporting);

• Exceptional attention to detail and ability to produce a high quality work product with a “right the first time” approach uppermost in mind such that reviewers’ input is minimized;

• Strong affinity for and comfort with private company legal documentation;

• Project management and presentation skills combined multi-tasking abilities;

• Ability to complete tasks quickly and efficiently having regard to changing priorities, differing time zones and geographies.

Diversity and Inclusion:

Capital Dynamics is an Equal Opportunity Employer, and is committed to creating a global diverse workforce. We are a global company with 24 nationalities represented across our staff in 14 offices, spanning North America, Europe, the Middle East and Asia. We believe diversity and inclusion (“D&I”) is key to being better at what we do and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status or any other dimension of diversity. We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics.