Associate, Asset Backed Finance

Oaktree Capital Management, L.P.•Los Angeles, CA

1d•Hybrid

About The Position

Oaktree is a leader among global investment managers specializing in alternative investments, with more than $220 billion in assets under management. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,400 employees and offices in more than 25 cities worldwide. We are committed to cultivating an environment that is collaborative, curious, inclusive and honors diversity of thought. Providing training and career development opportunities and emphasizing strong support for our local communities through philanthropic initiatives are essential to our culture. The Oaktree ABF strategy: Oaktree Asset Backed Finance (“ABF”) is a strategy which invests in pools of contractual assets, such as loans, leases, receivables, mortgages and licensing agreements, which may or may not reference property or other hard assets. Asset categories include corporate / commercial, consumer, real estate, transportation, equipment, infrastructure, energy, intellectual property and other esoteric types. On behalf of ABF funds and clients, Oaktree Purchases, or commits to purchase, assets, with or without leverage Lends, or commits to lend, secured by assets, in a senior or mezzanine position Insures, or provides capital relief against, assets Provides essential capital to a business primarily engaged in the origination and servicing of assets Oaktree has significant experience successfully investing client capital in ABF opportunities as a sub-allocation to various funds and strategies, Oaktree ABF represents Oaktree’s client offering dedicated to ABF. Based on the expanding ABF opportunity set and client demand both in unrated ABF and formally rated investment grade ABF (IG ABF), Oaktree ABF is expected to grow significantly. Oaktree judges the ABF Strategy’s success and value by outcomes delivered to clients, consistent with or exceeding expectations, over the medium and long term. For additional information please visit our website at www.oaktreecapital.com.

Requirements

2-5+ years relevant experience within asset finance or structuring. Either sell-side at an investment bank and / or buy-side investing across securitized collateral types at an investment manager.
Strong quantitative background.
Facility with Excel and PowerPoint, commensurate with years of experience.
Strong experience reviewing financial agreements for relevant business points and finding answers to specific questions.
Knowledge of fixed income fundamentals, asset backed finance and securitization, cash-flow modeling, and structuring, commensurate with years of experience.
Bachelor’s degree required.

Nice To Haves

Experience in executing private asset-backed investments (without relying on an arranging bank to structure the investment) preferred but not required.
Experience leading rating process of an asset-backed investment preferred but not required.

Responsibilities

Support senior ABF investment professionals in the LA and New York offices, and will need to be based in LA.
Contribute to all phases of the investment process, from sourcing, through decision points, to investment realization.
Follow up on introductions and inquiries of potential relevance to the ABF strategy.
Collect, evaluate, organize and summarize initial information which accompanies an ABF opportunity such as teasers, pitch decks, meetings or emails.
Participate in calls, virtual meetings and in-person meetings with asset originators, borrowers, sellers and their respective advisors, taking careful notes.
Lead or participate in diligence, negotiation of terms and documentation, building models and preparing investment memoranda for consideration by the ABF investment committee for potentially attractive opportunities.
Gain familiarity with Oaktree’s various pools of capital available for ABF investments, including the constraints imposed by fund investment guidelines, capital considerations, regulators and Oaktree’s internal policies and procedures.
Present information about investments, both actual and considered, to partners such as clients, prospects, financing providers and co-investors.
Participate in monitoring, surveillance and valuation of existing investments.
Train and supervise associates and analysts on the ABF team.
Perform other tasks as required.