Investment Professional, Credit Analyst US CLO

About Permira

Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds across two core asset classes, private equity and credit, with total committed capital of approximately €80bn. The Permira private equity funds make both long-term majority (Buyout) and minority (Growth Equity) investments in four key sectors: Technology, Consumer, Healthcare, Services. 
The Permira credit funds support businesses with flexible financing solutions across Direct Lending, Strategic Opportunities and CLO Management. Established in 2007, the firm advises investment funds and products which have provided approximately €20 billion of debt capital to over 300 businesses.

Led by Ariadna Stefanescu and with €4bn assets under management, 10 priced CLOs since 2018 and 180+ investments, Permira`s CLO management platform counts as one of the leading credit specialists in Europe. Permira Credit are now seeking to expand their successful CLO Management platform to the US and are looking for a Credit Analyst to join the newly created US team based in Permira’s Menlo Park office.

Key Responsibilities

• Perform fundamental credit research on issuers within the US leveraged loan and high yield market, with a view to a potential investment by the Providus CLO funds.
• This would include analysis both of existing issuers held by the funds, as well as new issuance in the primary markets.
• The successful candidate would be expected to carry out detailed credit analysis during the underwriting stage, whilst providing regular updates to the Investment Committee thereafter and maintaining buy / sell / hold recommendations.
• Attend lender meetings and interact directly with both issuer management teams and sell-side counterparties
• Undertake detailed credit analysis for potential new issuance including risk analysis, market fundamentals, downside cases etc.
• Develop flexible financial models in MS Excel including in-depth financial analyses and forecasting
• Review financial, commercial and legal due diligence for potential investments
• Carry out sector analysis including competitor landscape, market environment, growth prospects etc
• Consider ESG criteria for all credits in collaboration with the ESG team
• Liaise with execution trading and loan settlement team as required
• Maintaining network with issuing banks and other counterparties in the market, representing the platform in a positive way externally

Desired Experience / Background

• Educated to degree level; CFA desirable but not essential
• Ideally 4-6 years relevant experience with 2-3 years within a debt fund
• Sound experience of credit analysis - understanding of financial reporting, conducting due diligence and modelling essentials as well as credit instruments such as leveraged loans and high yield bonds
• Strong fundamental credit research skills, including analysis of business profile, customers, suppliers, competitive positioning, barriers to entry, market growth, collateral /
  documentary protection, financial analysis (including review of financial statements, KPIs and downside modelling), cash flow generation and de-leveraging prospects.
• Solid understanding of the broader macroeconomic landscape and how this impacts existing & potential investments
• Strong presentation skills and the ability to communicate with confidence in a clear & concise manner
• Intellectual curiosity, team player with a willingness to learn
• Microsoft Outlook, Excel and PowerPoint to an advanced level.
• Effective planning and organisation skills; ability to prioritise tasks and deliver to deadlines with strong attention to detail
• High level of motivation, integrity, energy and enthusiasm

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