Portfolio Manager, Commercial Real Estate Debt

Wellington Management • New York, NY

1d • Hybrid

About The Position

As part of the continued expansion of our Private Investing capabilities, we are seeking to recruit an experienced investor for our new Commercial Real Estate (CRE) Debt Team. Wellington has been investing in private markets since 2003, and the Firm launched its first dedicated private capital fund in 2014. Today, the private investment teams manage approximately $11 billion in assets in aggregate across private growth equity, venture capital and private credit, and it is the fastest growing investment group within Wellington. The Portfolio Manager, Commercial Real Estate Debt will be responsible for helping build the team’s investment pipeline, including thematic, research-based sourcing and relationship-driven origination across sponsors, borrowers, financing partners, advisors, and other market participants. In addition to generating deal flow, the ideal candidate will conduct in-depth underwriting of select transactions, develop investment recommendations, structure and negotiate bespoke terms and covenants, and help manage portfolio positions and borrower/sponsor relationships. We expect this individual to leverage their insight and experience throughout the investment process while working closely with others across Wellington’s investment platform, including global credit analysts, industry research colleagues, and other private investors.

Requirements

• Successful track record in commercial real estate credit or a closely related lending strategy.
• Deep understanding of real estate fundamentals.
• Underwriting experience across major sectors.
• Passion about credit investing.
• Emphasis on a fundamental, research-oriented, bottom-up approach to underwriting commercial real estate and focus credit structuring.
• Highly analytical and detailed investment process.
• Superior collaboration and influencing skills.
• Ability to take risk and challenge investment views.
• Humility to admit mistakes and a desire to learn from others.
• Ability to communicate (both verbally and in writing) action-oriented opinions clearly and with conviction.
• Contribution to an open investment dialogue.
• Intellectual curiosity, capacity for differentiated thinking, and a growth mindset.
• Flexibility and openness to continue learning, evolving, and growing as an investor.
• Global perspective and creative approach for analyzing growth lending transactions.
• A minimum of 12 years of relevant experience on the buy- or sell-side within commercial real estate debt, real estate credit, structured finance, private credit, or credit research.
• Strong bottom-up fundamental approach to research.
• Track record of developing, negotiating, and monitoring bespoke covenants.
• Strong work ethic and attention to detail.
• Ability to organize, manage, and prioritize time well.
• Demonstrated ability to work independently and make decisions in the face of uncertainty.
• Independence of thought, an entrepreneurial nature, and a global perspective.
• Sound judgment, strong work ethic and highest personal and professional integrity.

Nice To Haves

• Direct experience underwriting, structuring, or monitoring private commercial real estate debt transactions, including legal documentation.
• Established industry relationships and network to originate deal flow across institutional sponsors, borrowers, banks, advisors, and other real estate capital markets participants.
• Expertise in drafting, structuring, and negotiating term sheets, loan agreements, and related credit documentation across a variety of financing transactions.
• An undergraduate degree in finance, economics, accounting, real estate, or a related discipline.

Responsibilities

• Helping build the team’s investment pipeline, including thematic, research-based sourcing and relationship-driven origination across sponsors, borrowers, financing partners, advisors, and other market participants.
• Conducting in-depth underwriting of select transactions.
• Developing investment recommendations.
• Structuring and negotiating bespoke terms and covenants.
• Managing portfolio positions and borrower/sponsor relationships.
• Leveraging insight and experience throughout the investment process.
• Working closely with others across Wellington’s investment platform, including global credit analysts, industry research colleagues, and other private investors.

Benefits

• Retirement plan
• Health and wellbeing
• Dental coverage
• Vision coverage
• Pharmacy coverage
• Health savings account
• Flexible spending accounts
• Commuter program
• Employee assistance program
• Life insurance
• Disability insurance
• Adoption assistance
• Back-up childcare
• Tuition/CFA reimbursement
• Paid time off (leave of absence, paid holidays, volunteer, sick and vacation time)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior