Associate, Private Credit - Manager Research

Nomura Holdings, inc.•New York, NY

68d•$150,000 - $200,000•Hybrid

About The Position

Nomura Capital Management (NCM) is expanding its investment management business in the Americas and has established a new business line to provide RIAs and their clients with access to private markets. NCM's initial strategies include a diversified private credit interval fund and a private credit drawdown strategy, with plans to develop products in other private markets like real estate, infrastructure, private equity, and venture capital. The Associate will be a critical member of the Private Credit Team for the Nomura Alternative Income Fund (NAIFX), focusing on sourcing and managing top-tier General Partners (GPs) in Asset-Based Lending, Specialty Finance, and Real Estate Debt for both private credit funds and co-investments. This role requires strong quantitative, data management, and research skills to contribute to investment strategy decisions, including manager screening, selection, monitoring, and market research. The ideal candidate will have prior experience with similar institutional portfolios, a background in investment research, and a working knowledge of various investment vehicles. Responsibilities extend to participating in due diligence, shaping strategic decisions through ad hoc research, project management, and interdepartmental collaboration.

Requirements

2-4 years of relevant credit experience in private asset-based, specialty finance or real estate credit and a strong grasp of the alternative investment landscape.
Manager research experience at a private credit investment firm or group is highly desirable (e.g. pension fund, insurance company, fund of funds, investment consultant, OCIO, wealth management platform, endowment, foundation, sovereign wealth fund, family office, etc.).
Investment experience and knowledge of liquid and private credit strategies is a plus, but not required (e.g. high yield, bank loans, structured products, real estate debt, or stressed/distressed debt).
Demonstrated capacity to learn and develop broad expertise, including working knowledge of alternative investment strategies, financial instruments, and valuation approaches across securities and derivatives.
Strong attention to detail, sense of accountability and dedication to continuous improvement.
Strong organizational skills and the demonstrated ability to work productively and efficiently in a fast-paced environment with multiple projects, priorities, and deadlines.
Advanced Excel/Word/PowerPoint skills required; working knowledge of PowerBI or R/Python (or equivalent) is ideal.
Data driven mindset with strong quantitative and technical skills.
BS/BA in finance, accounting, mathematics, statistics, engineering or related field required; Master's Degree preferred.
Progress towards CFA or CAIA designation is desired.

Nice To Haves

Manager research experience at a private credit investment firm or group is highly desirable (e.g. pension fund, insurance company, fund of funds, investment consultant, OCIO, wealth management platform, endowment, foundation, sovereign wealth fund, family office, etc.).
Investment experience and knowledge of liquid and private credit strategies is a plus, but not required (e.g. high yield, bank loans, structured products, real estate debt, or stressed/distressed debt).
Master's Degree preferred.
Progress towards CFA or CAIA designation is desired.
Working knowledge of PowerBI or R/Python (or equivalent) is ideal.

Responsibilities

Work closely with Manager Research team members to review and evaluate prospective investment partnerships; conduct due diligence; and maintain an internal database of prospective investment partnerships across market subsectors.
Write manager meeting notes, due diligence reports, and manager recommendations; summarize the due diligence findings in investment recommendation memos.
Facilitate and complete a variety of research tasks, including conducting written surveys, analyzing peer groups, and writing manager review memorandums and commentaries.
Help develop quantitative risk framework for analyzing the historical track record of prospective investment partners; construct financial models and perform technical analysis as needed.
Maintain oversight of capital calls and distributions as required.
Track and report manager performance; monitor fund developments; design reports to track fund and portfolio exposures and performance attribution.
Help automate processes to ensure that fund reporting requirements are met; assist with ongoing reporting needs.
Actively contribute content for the production of investment materials and communications to clients (e.g., marketing decks, presentations, roadshows, blogs, etc).
Build relationships with fund managers, industry participants, placement agents, investment consultants and peer network to help drive product development, idea generation, and investment performance.
Collaborate with teams both internally and externally and across functions—Risk Management, Legal, Compliance, Data providers, Distribution partners, Counterparties, Technology Vendors, Operations, Accounting, etc.