About the role#
The Funds Alpha team at the State of Wisconsin Investment Board manages approximately $9 billion in hedge fund assets and $28 billion in beta one equity and fixed income assets. As an intern, you will join this team to assist with the selection of external investment managers. You will work alongside a lead analyst while gaining exposure to various investment styles across liquid asset classes. The role emphasizes active participation in the evaluation process, including weekly manager meetings.
What you'll do#
- Assist analysts with quantitative and qualitative due diligence on hedge fund and beta one managers.
- Identify historical investment skill using the team's quantitative framework.
- Evaluate how managers handle balanced portfolios of securities.
- Interview external managers to assess their firm, philosophy, process, and risk management.
- Design and present due diligence findings during team meetings.
- Gain exposure to legal, data, and operational negotiations.
- Learn to use Funds Alpha investment systems.
- Complete ad hoc projects, such as market-related analyses or universe reviews.
- Support the head of strategy with portfolio and firm-level projects.
- Complete a capstone project involving research, data collection, model creation, and result interpretation for senior management.
What you'll need#
- Current undergraduate or graduate student status in Finance, Economics, or a similar business major.
- Proficiency or familiarity with FactSet or eVestment.
- Strong skills in Microsoft Office Suite, particularly Excel.
- Excellent written and verbal communication skills.
- Previous experience with asset allocation analysis or manager due diligence.
Location & details#
- Location: Madison, Wisconsin.
- Term: Summer 2027.
- Duration: Approximately 10 weeks, beginning in late May or early June 2027.
- Modality: This is an on-site, full-time position.
About State of Wisconsin Investment Board
The State of Wisconsin Investment Board manages assets for the Wisconsin Retirement System and other state funds. Founded in 1951, the organization is based in Madison and operates as a government agency. It oversees approximately 178 billion dollars in assets to provide retirement benefits for over 703,000 public employees. The board employs between 201 and 500 people to handle investment operations, risk management, and capital markets.
How to get in at State of Wisconsin Investment Board
Applying early gives you a distinct advantage at the State of Wisconsin Investment Board, as recruiters review applications before the volume becomes unmanageable. Intern Insider sends an instant alert the moment a role matching your target is published anywhere, so you apply among the first and get seen before the pile grows. Reaching out to the right people often yields better results than submitting through a general portal. Intern Insider surfaces the recruiters behind the company roles so you can reach out directly to ask about the position or a referral, which materially improves your response rates.
