Direct Funds Product Manager

iCapital is seeking a Direct Funds Product Manager to take ownership of post-launch product management, lifecycle oversight and governance for a growing suite of private markets funds across EMEA, with a primary focus on Luxembourg-domiciled structures (including UCI Part II, RAIFs and related vehicles). This role operates with a high degree of autonomy and ownership across complex fund structures and acts as the central coordination point for fund operations post- The position can be based in Lisbon, Zurich or London and supports EMEA-focused private markets clients.

Responsibilities

Act as the central coordination point across Structuring, Legal, Tax, Operations, Compliance and Platform teams; Translate client, regulatory and product requirements into clear internal actions; Drive alignment across teams to ensure timely and consistent execution; Oversee operational aspects of fund structures, including share class design, fee structures, reporting requirements and platform configuration; Coordinate the operational review and implementation of fund documentation (PPMs, LPAs, subscription materials); Maintain consistency between legal, operational and platform implementation; Serve as the primary interface with clients, GPs and external stakeholders on operational and product-related matters; Respond to due diligence questionnaires (DDQs), investor queries and fund-related information requests; Handle AML/KYC questionnaires and coordinate with relevant internal teams; Act as escalation point for complex operational, governance and product-related issues; Drive resolution across internal teams and external service providers; Track and manage key operational risks and issues across fund structures; Lead and implement product enhancements post-launch, including structural adjustments and new share classes; Support the evolution and scaling of the evergreen/direct funds platform; Contribute to standardisation of processes, templates and service frameworks across EMEA

Requirements

6-15 years of relevant experience in product management, fund structuring, fund operations or related roles within private markets; Strong experience with Luxembourg fund structures, particularly UCI Part II, RAIFs or similar vehicles; Strong understanding of private markets fund structures, lifecycle management and governance frameworks; Familiarity with AIFM environments and key service providers (administrator, depositary, auditors); Solid understanding of fund documentation and its operational implications; Proven ability to operate in complex, multi-stakeholder environments with a high degree of ownership; Strong problem-solving skills, with the ability to handle non-standard and time-sensitive situations; High attention to detail and strong organisational capabilities; Excellent communication and stakeholder management skills across internal and external parties

Nice to have

Experience with evergreen or semi-liquid structures; Exposure to cross-border product structuring and multi-jurisdictional setups

Benefits

Flexibility to work remotely one day (Friday)