Credit Accounting Manager
About The Position
Petra Funds Group is a leading provider of comprehensive fund administration and infrastructure services for both private equity and debt funds. Our mission is to empower fund managers to concentrate on value-adding activities while entrusting us with their administrative and operational needs. Our team comprises highly skilled professionals across the US and Europe, distinguished by our deep industry experience and commitment to accuracy and timeliness. Our reputation is built on trust, expertise, and meticulous attention to detail. We pride ourselves on our collaborative approach and relentless pursuit of excellence. Petra’s credit operations compliments the fund administration offering and provides support to private credit managers of all sizes and strategies. This includes a flexible approach to credit middle office operations, loan agency and monitoring services, as well as other pre and post execution support. We are looking for a Credit Accounting Manager to join our Client's team and own day-to-day accounting and financial reporting for the firm's credit and hybrid capital portfolio, working closely with the COO/CCO, external fund administrators, auditors, and the investment team. This is a hands-on role suited to a candidate who is comfortable operating with limited existing infrastructure and wants to help shape process and controls as the platform grows. Our client is a private capital investment firm headquartered in New York that provides flexible, customized financing solutions to middle-market businesses. The firm invests across the capital structure through a hybrid strategy that blends private credit, structured equity, and special situations investing — including senior and junior debt, preferred and structured equity, and rescue or transition capital for founder-led and sponsor-backed companies navigating growth, liquidity, or ownership transitions. The portfolio spans a range of industries and includes both control and non-control positions, with holding structures common to private credit and hybrid capital vehicles (SPVs, credit facilities, and fund-level co-investments).
Requirements
- Bachelor's degree in Accounting, Finance, or related field.
- 5–8+ years of accounting experience, with direct exposure to private credit, direct lending, or hybrid capital fund structures.
- Experience with loan-level accounting mechanics (PIK, OID, amortization schedules, unitranche/first lien-second lien structures).
- Prior experience working with a fund administrator and coordinating year-end audits for private fund vehicles.
- Strong Excel skills; experience with fund accounting or portfolio management systems (e.g., Investran, eFront, Allvue, or similar).
- High attention to detail, strong organizational skills, and comfort operating in a lean, fast-paced, entrepreneurial environment.
- Big Four or national accounting firm audit background with private funds or asset management clients.
- Prior experience at a private credit manager, BDC, or hybrid capital/special situations platform.
- Familiarity with capital call/distribution mechanics, waterfall structures, and management fee/carry calculations.
Responsibilities
- Own the accounting and valuation process for a portfolio of private credit, structured equity, and special situations investments, including loan-level accounting (PIK, OID, amortization, prepayments, fee income).
- Prepare and review monthly, quarterly, and annual financial statements and investor reporting packages in coordination with the third-party fund administrator.
- Track and reconcile credit facility draws, borrowing base calculations, covenant compliance, and interest accruals across the portfolio.
- Manage cash management, capital call and distribution processing, and treasury functions for fund and SPV entities.
- Partner with the investment team on deal closings to ensure new investments are properly onboarded into accounting systems and records.
- Coordinate the year-end audit process, including preparation of audit schedules, supporting documentation, and liaison with external auditors and tax preparers.
- Support NAV calculations, management fee and carried interest computations, and waterfall mechanics in partnership with the administrator.
- Assist in building and documenting scalable accounting processes, internal controls, and policies as the firm grows its AUM and investor base.
- Respond to ad hoc investor due diligence requests and support quarterly investor reporting and capital account statements.
Benefits
- 90% covered medical, dental, and vision insurance premiums
- Fully funded Health Savings Account (HSA) employer contributions up to the IRS maximum
- 401(k) employer match at 100% of your contributions up to 5% of compensation, with immediate vesting
- Flexible paid time off
- Generous holiday calendar
- Hybrid work environment
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What This Job Offers
Job Type
Full-time
Career Level
Manager
