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. Responsabilities:
Cross-Functional Coordination
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
Operational & Structural Oversight
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
Client & External Interaction
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
Escalation & Issue Resolution
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
Post-Launch Development & Enhancements
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
Qualifications
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
Experience with evergreen or semi-liquid structures is advantageous
Exposure to cross-border product structuring and multi-jurisdictional setups is a plus
We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office four days, with the flexibility to work remotely one day (Friday). For additional information on iCapital, please visit https://www.icapital.com/about-us Twitter: @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Awards Disclaimer: https://www.icapitalnetwork.com/about-us/recognition/
