Associate – Private Credit Fund Financing

Associate – Private Credit Fund Financing

Societe Generale is one of Europe's leading financial services groups and a major player in the economy for over 160 years, we support 25 million clients every day with more than 126,000 staff in 65 countries

Our Group draws on our European roots to develop our business internationally. Our unique geographic positioning enables us to connect Europe and Africa with major global financial centres in Asia and the Americas.

The Group combines financial strength, proven expertise in innovation and a sustainable growth strategy with the objective of creating value for all our stakeholders. We seek to be a trusted partner in the projects of those building tomorrow's world today.

About the team:

Within the Investment Banking Division of Société Générale, Leverage Finance (“LF”) is responsible for the origination, structuring, and underwriting of debt finance for Private Equity backed LBOs and non-investment grade corporates encompassing both leveraged loans and high yield bonds.

The Leverage Finance Mid-Market Lending (“LF MML”) Team is a sub team that works in a Joint Venture (“JV”) SG’s Fund Financing Solutions (“FFS”) team on the origination, structuring, and underwriting of debt facilities for Private Credit and Private Equity funds secured against the assets of their portfolios.

Whilst the JV operates as one team the LF MML team is primarily focused on utilising fundamental credit analysis to asses the quality of the funds underlying assets and their investments strategies.

Summary of Key Purposes of the Role:

The LF MML team is seeking to hire an Associate to support the origination, structuring, execution and portfolio management of complex fund-level financing transactions secured against the assets of market leading Private Credit and Private Equity funds (including co-mingled funds, separate managed accounts and continuation vehicles).

The successful candidate will play a key role in further growing the well-established franchise, working closely with internal credit, legal, structuring and distribution teams.

Responsibilities:

Transaction Due Diligence and execution

·         Carry out detailed top-down and bottom-up analysis on underlying asset portfolios

·         Review fund documents including prospectus and due diligence questionnaires to understand investment strategies and the risks associated with them

·         Prepare internal transaction memos to obtain credit and business committee approvals

Financial Modelling

·         Develop financial models to assess the borrowing capacity of portfolios

·         Model repayment scenarios to assess refinancing risk

·         Model downside scenarios to assess the resilience of financial structures

·         Build detailed Borrowing Base files based upon underlying facility documentation to monitor the lending capacity of the portfolio and compliance with covenants

Asset Valuation

·         Where applicable asses the correct valuation / credit marking of assets within the portfolio

·         Draft memos to support and obtain credit approval for the valuations requested

Portfolio & Risk Management

·         Work with SG’s Credit Portfolio Management (CPM) team to monitor and manage an active portfolio of NAV and asset-backed facilities.

·         Proactively manage material amendments, waivers, upsizes and refinancings.

·         Work with SG’s dedicated Syndication Team (SYN) to prepare materials for and assist in the sell-down of underwritten positions

Structuring

·         Assist in the drafting term sheets

·         Support documentation negotiation with external counsel and client advisors focussed on the legal terms pertaining to the underlying assets

Franchise Development

·         Contribute to product development and innovation across fund finance and structured fund solutions

·         Develop relations with individuals within the Private Credit and Private Equity funds at your level of seniority

Technical:

·         Strong understanding of credit fundamentals and the structuring of leveraged loans. Ideally via a direct lending or portfolio management role within a bank or fund

·         Ability to identify the key risks pertaining to loan portfolios and individual assets

·         High level of competency in Microsoft Excel and experience in developing financial models

·         Ability to understand complex credit structures and loan documentation

·         Drafting of credit memos that clearly, concisely and accurately detail the key messages

Behavioural:

·         Client orientation – ability to build and maintain trusted client relationships

·         Client orientation – consistency and rigour in following up on clients’ needs

·         Innovation – commitment to the development of new client base, advisory, and products

·         Team spirit – ability to work with people with diverse, international backgrounds

·         Commitment – ability to prioritise tasks and to manage competing deadlines, and to deliver on team’s priorities

·         Communication skills – ability to accurately convey clear messages on complex topics. Including language skills (as relevant)

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender identity.