Investment Banking – M&A Private Capital Advisory – Structuring Associate

JPMorgan Chase & Co.•New York, NY

1d•$175,000 - $225,000•Onsite

About The Position

We are seeking a highly motivated Associate to join our North American Private Capital Advisory team. The Private Capital Advisory team sits within M&A and is part of the global Private Capital Advisory & Solutions team. The team advises clients on non-control private capital partnerships, be it minority stake sales or Joint Ventures, for a variety of purposes, including M&A, growth/capex, shareholder monetization, balance sheet equitizations, refinancings, and other corporate objectives. The team works closely with sector, and other coverage and product teams within the bank. The client universe includes large corporates, sponsor-owned companies, and entrepreneur-led / family businesses entering private transactions, including as an alternative to the public market. The team manages bespoke M&A-style processes and works across a variety of capital partners, including private equity funds, sovereign wealth funds, alternative and credit investors, pension funds and insurance companies, family offices, and other institutional investors. Private investors are increasingly seeking opportunities to deploy solutions-focused capital and form long-term partnerships with corporates and entrepreneurs. You will get exposure to all sectors, regions, and types of transactions across the capital structure, from common equity transactions to more structured deals, depending on client requirements.

Requirements

Prior work experience in an investment banking front office role, such as structured M&A, structured finance, project finance, or illiquid markets structuring role
Demonstrated experience in designing and negotiating bespoke transaction structures – selecting instruments, setting economic terms, and shaping governance and downside protections
Keen interest in private capital, minority M&A, and structured transactions. Interest in how minority and JV transactions work, including shareholder and governance agreements
Desire to work across sectors and have exposure to different types of transactions
Strong corporate finance proficiency, with a solid understanding of cash flow dynamics, risk allocations, capital structures, and how structural features drive investor returns. The role will require flexibility to work across the capital spectrum and be exposed to new and creative structures
Familiarity with key structural levers such as IRR caps, call schedules, distribution waterfalls, leverage, tenor, and downside protections, and the ability to articulate trade-offs between them
Experience evaluating and structuring cash flows across structured products (e.g., structured credit, asset-backed and project-finance cash flows, and long-dated, illiquid credit-like instruments), including cash flows with embedded optionality (e.g., prepayment, call, extension, and default-timing features)
Ability to engage in client and investor communications and take ownership across the transaction lifecycle
Ability to show initiative and support across several transactions in parallel, managing time appropriately across competing demands
Experience training junior bankers, with proven leadership skills and the ability to inspire and develop junior team members
Exceptional written and verbal communication skills, with the ability to communicate concepts and ideas concisely and defend their validity
Ability to perform under pressure and meet tight deadlines, with a track record of delivering innovative, analytically grounded solutions
High ownership mindset with the ability to manage workstreams independently and assume a high level of responsibility

Responsibilities

Work with clients in tandem with industry teams to analyze the optimal transaction structure and financial modelling for a potential transaction, with particular focus on bespoke non-control structures
Analyze the most suitable investor universe for each transaction and speak to investors as part of the outreach process, whether for bilateral partnerships or broader partner identification, as well as on an ongoing basis
Lead the structuring workstream on live mandates and potential transactions, including designing and negotiating terms across various non-control structures (e.g., structured minority equity, preferred equity, forward-starting lease)
Evaluate how risk and return dynamics shift as structural variables are flexed — including IRR caps, call schedules, distribution priorities, leverage, tenor, and downside protections — to identify the most appropriate structure for each situation, partnering on the underlying quantitative output
Support the preparation of transaction marketing and process materials, including term sheets
Coordinate process from launch to signing, in close cooperation with other internal teams, including investor outreach, active communication with investors / company management, and overall transaction management
Act as the primary day-to-day client point of contact and lead banker on deals
Liaise with other internal and external parties on transactions, including lawyers and accountants
Analyze proposals received from investors, including comparisons of key structural terms and their impact on investor returns, as well as key governance provisions. Support final negotiations for transactions
Support the preparation of materials to present to J.P. Morgan clients, in partnership with industry or other product teams
Given the team’s high deal flow and flat hierarchical structure, you should expect exposure to a wide range of responsibilities and workstreams, with frequent opportunities to step up and assume greater ownership
Support client negotiations, Q&A processes, and management interviews with clear articulation of pricing and structural trade-offs backed by disciplined analysis
Act as a leader and mentor to junior team members, fostering a culture of collaboration, creativity, and continuous improvement
At all times, be able to discuss industry trends, market developments, and regulatory changes with clients and team members