Senior Associate, Senior Debt

Audax Group • New York, NY

1d • $150,000 - $235,000 • Onsite

About The Position

Audax Senior Debt is a highly successful and very well-established investor in the U.S. middle market private debt industry. Audax Senior Debt has invested over $30 billion across more than 850 established U.S. middle market companies in support of over 250 private equity sponsors. Our primary focus is to invest in first lien senior secured loans to support sponsor-led buyouts. The investment team maintains focus on a deep understanding of credit during both the underwriting and portfolio monitoring process.

Requirements

• Bachelor’s degree in Business Administration, Finance, or a related field and three years of experience with structured credit.
• Experience must include three years managing a portfolio of various types of leverage facilities including CLOs; managing and generating reports and tracking investment activity and compliance tests for leverage facilities;
• Experience developing and utilizing financial models, reviewing quantitative and qualitative materials including financial statements, economic/market data, portfolio metrics, capital structure, and compliance tests for completion of CLO transactions
• Experience reviewing research produced on specific issuers, general credit trends, and sector related issues
• Experience providing analytical oversight, including documenting and implementing workflow processes; conducting data quality checks using Excel VBA and Python;
• Experience with CLO legal documentation including payment waterfall, investment quality tests, and concentration tests to analyze credit provisions in credit rating agency CLO analysis.
• Experience may be gained concurrently.

Responsibilities

• Manage all leverage facilities that support both existing and new funds and SMAs, including focusing on portfolio efficiency and returning optimization for each investment vehicle.
• Negotiate terms on new and existing leverage facilities. Help maintain and build relationships with new and existing lending institutions.
• Model portfolio and return impact from changes in leverage facility terms. Construct portfolios of loans for new CLOs that meet certain investment criteria.
• Analyze the existing portfolios of senior loans to identify secondary market opportunities.
• Assist in the monitoring of compliance tests within all leverage facilities.
• Leverage deep understanding on CLO indentures to negotiate credit stipulations with CLO investors.
• Build integrated workflows for fund reporting using Excel VBA, Power Query and Power Automate.
• Deal sizing and allocation modeling for private credit transactions.
• Allocate assets across various fund structures based on compliance requirements and investment guidelines.
• Manage rating agency credit estimate process for private credit portfolio.

Benefits

• health insurance
• life insurance
• disability insurance
• paid time off (including sick leave, parental leave, volunteer leave, and vacation)
• charitable donation match
• family support services (including Bright Horizons and Benefit Advocate Center)
• 401(k)

What This Job Offers

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