Private Equity Associate
Position Overview
At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. As a Private Equity Associate within PNC's Mezzanine Group, you will be based in Pittsburgh, Pennsylvania.
PNC Mezzanine Capital is seeking to hire an Associate to join its team. The Associate will work closely with the firm's other investment professionals and will be involved in all aspects of the investment and portfolio management process. An Associate's primary roles include:
• Deal screening and evaluation• Financial modeling and analysis• Working with third-party due diligence providers• Supporting transaction negotiations• Post-acquisition portfolio monitoring and management, including participation in portfolio company board meetings and working closely with senior management teams
Importantly, we expect an Associate's role to expand over time as they demonstrate an ability to take on more responsibility.
PNC Mezzanine Capital, the private equity affiliate of PNC Financial Services Group, is focused on making control investments in privately held middle-market companies headquartered in North America. The firm seeks well-positioned companies where it can invest $10 million to $100 million of equity capital, primarily as a control investor in leveraged and management buyouts. The firm invests across a variety of industry sectors, including outsourced services, niche manufacturing, and value-added distribution. PNC's private equity program was started in 1982 and has provided over $1.5 billion of equity capital to more than 100 companies. We are investing from a committed capital pool of $650 million, a substantial majority of which remains uninvested and available.
Qualifications
• Bachelor's degree from top college or university, with strong academic performance and standardized test scores• 2-4 years of work experience in private equity, investment banking, management consulting, or corporate development / strategic planning• Strong quantitative skills and understanding of financial statements• Familiarity with and keen interest in investing and business strategy• Ability to manage multiple assigned projects in an unstructured environment • Strong written and oral communication skills• Self-starter with an exceptional work ethic • Highly proficient with Microsoft Excel, PowerPoint, and Word• Working knowledge of LBO Modeling is a plus. • Down-to-earth and collaborative / team-oriented personality is a must• Collaborative and team-oriented personality
*Please note, PNC will not sponsor a work visa for this position.
Job Description
- Performs analytical and operational activities related to proposed deals and existing investments under the direction of senior staff professionals. Participates in the identification, origination, analysis, closing and monitoring of investment transactions.
- Participates in the marketing effort directed toward sources of investments in support of senior staff as needed. May develop sources and perform sales calls.
- Performs in-depth analyses of prospective new investments including historical/projected financial results, industry research and risk factors. Determines acceptability of potential investments in conjunction with team.
- Evaluates various opportunities for portfolio companies including evaluation of potential acquisitions, analysis of various comparable companies in contemplation of public offering and determination of fair market value of companies contemplating recapitalization and other exit scenario analysis as required.
- Evaluates various existing opportunities for portfolio companies. Participates in the review of legal documentation prior to and following the transaction closing in conjunction with senior staff. Monitors compliance issues after closing. Works with internal finance staff to track portfolio performance, valuation and reporting.
PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:
- Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
- Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.
Competencies
Business Acumen - Knowledge, insight, and understanding of business concepts, tools, and processes that are needed for making sound decisions in the context of the company's business; ability to apply this knowledge appropriately to diverse situations.
Cross-Team Integration - Ability to lead employees from various functions to communicate, coordinate work across divisions, and collaborate in solving problems as one team.
Decision Making and Critical Thinking - Understanding of the issues related to the decision-making process; ability to analyze situations fully and accurately, and reach productive decisions.
Effective Communications - Understanding of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors.
Financial Forecasting and Modeling - Knowledge of and ability to use processes, tools, and techniques for exploring and evaluating alternative financial scenarios and results.
Financial Statement Analysis - Knowledge of tools, techniques, and practices, and ability to analyze and determine the credit-worthiness of a business enterprise through its financial statements.
Investments - Knowledge of the investments business and ability to analyze and evaluate asset types, market and industry trends, major issues, and regulatory considerations.
Managing Multiple Priorities - Ability to manage multiple concurrent objectives, projects, groups, or activities, making effective judgments as to prioritizing and time allocation.
Quantitative Techniques - Knowledge of and ability to use quantitative tools and techniques to measure and analyze risks.
Work Experience
Roles at this level typically require a university / college degree, with 3+ years of relevant / direct industry experience. Certifications are often desired. In lieu of a degree, a comparable combination of education and experience (including military service) may be considered.
Education
Bachelors
Additional Job Description
Benefits
PNC offers employees a comprehensive range of benefits to help meet your needs now and in the future. Depending on your eligibility, options for full-time employees include medical/prescription drug coverage (with a Health Savings Account feature); dental and vision options; employee and spouse/child life insurance; short- and long-term disability protection; maternity and parental leave; paid holidays, vacation days and occasional absence time; 401(k), pension and stock purchase plans; dependent care reimbursement account; back-up child/elder care; adoption assistance; educational assistance and a robust wellness program with financial incentives. To learn more about these and other programs, including benefits for part-time employees, visit pncbenefits.com > New to PNC .
Disability Accommodations Statement:
The PNC workplace is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the PNC Careers website or submission process, please call 877-968-7762 and select Option 4: Recruiting or contact us via email at [email protected].
The Human Resources Service Center hours of operation are Monday - Friday 9:00 AM to 5:00 PM ET.
Equal Employment Opportunity (EEO):
PNC provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other categories protected by law.
California Residents
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