Associate, Direct Lending Workout
About The Position
The Middle Market Lending Team provides senior, one-stop and second lien loans to U.S. middle market companies. The team structures financing solutions with hold positions of up to $1 billion. We also underwrite and syndicate senior credit facilities and a proprietary suite of GOLD (unitranche) facilities up to $2 billion. The Middle Market Lending Team has specialty teams in five verticals: Consumer, Restaurant and Retail, Diversified Industries, Financial Services, Healthcare and Software & Technology Services. The team has an outstanding track record of closing deals on time and at the agreed-upon terms, utilizing deep industry knowledge to identify, advise on and implement value creation strategies. Key responsibilities include origination and underwriting of loans. The team works closely with all areas of the Firm to ensure seamless execution. The Workout Team within the Middle Market Lending Department is responsible for managing a portfolio of the Firm’s troubled investments, primarily senior secured debt (including one-stop loans). The team develops and implements deal specific strategies for maximizing recoveries and minimizing losses on the portfolio. The Special Situations Team is responsible for managing select high intensity workouts where the debt has been or may be converted into significant minority or a control equity position. These situations often include operational turnarounds.
Requirements
- Bachelor’s Degree is required, preferably with a major in Finance, Accounting, Economics or related financial discipline with an outstanding record of academic achievement
- 3 years of experience in a finance function, preferably in a credit restructuring, leveraged credit, investment banking or commercial banking environment
- Leveraged lending experience preferred (not High Yield) at a finance company, bank, BDC or mezzanine fund
- Formal credit training preferred
- Strong analytical, financial modeling and research skills
- Ability to effectively communicate with internal and external clients
- Proficient in Excel, Word, PowerPoint and other software
- Must be organized, detail driven and process oriented
- Enthusiastic about working in office and creating a Gold Standard hybrid work culture
Nice To Haves
- Experience working with financial sponsors is a plus
Responsibilities
- Assisting with managing a portfolio of the Firm’s troubled investments, primarily senior secured debt (including one-stop loans)
- Assisting with developing and implementing strategies for maximizing recoveries and minimizing losses on the portfolio
- Preparing and assisting in analyzing and modeling potential restructuring alternatives
- Assisting with preparing restructuring / amendment / waiver requests along with other written updates on portfolio accounts
- Assisting with developing analyses and what-if scenarios
- Assisting in negotiation with various constituencies including financial sponsors, management, other bank group members and other lenders in the capital structure
- Assisting in preparing portfolio update reports
- Supporting senior team members in other capacities as needed
Benefits
- full range of medical, financial and / or other benefits (including 401(k) eligibility and various paid time off benefits such as vacation, sick time and parental leave)
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
1,001-5,000 employees
