Founded in 1999, Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, London and Hong Kong. With approximately $42 billion of assets under management and more than 475 employees, Audax is a leading capital partner for middle market companies, operating through three business lines: Audax Private Equity, Audax Private Debt, and Audax Strategic Capital.
For more information, visit the Audax Group website www.audaxgroup.com. or follow us on LinkedIn.
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.
POSITION DESCRIPTION:
Senior Associate, Senior Debt opening, located in New York City
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.
Qualifications:
- 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.
For New York City only: The base salary range for this position is $150,000 - $235,000. The base salary range represents the estimated low and high end for this position at the time of this posting. Consistent with applicable law, compensation may vary and will be determined based on but not limited to, the skills, qualifications, and experience of the applicant along with the requirements of the position, and Audax reserves the right to modify this pay range at any time. An employee may also be eligible for annual discretionary incentive compensation based on performance.
Audax offers a wide range of employee benefits, including 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), and a 401(k) in addition to other benefits.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Audax Management Co. is an equal opportunity employer.
Please note that Audax Group and its affiliated entities do not accept unsolicited resumes from a third-party recruiting agency not currently under a signed agreement. Any unsolicited resume that is sent to directly to Audax Group or one of its affiliated entities, or its employees, including those submitted to hiring managers by a third-party recruiting agency not currently under a signed agreement, will be considered property of Audax Group. If a third-party recruiting agency submits a resume without an agreement, Audax Group or its affiliated entities explicitly reserves the right to pursue and hire those candidate(s) without any financial obligation to the third-party recruiting agency. Any third-party recruiting agency should contact either a member of the Talent Acquisition or Human Resource team at Audax Group, in conjunction with a valid, fully executed contract for service based upon a specific job opening.
Skills Required
- Bachelor's degree in Business Administration, Finance, or a related field
- Three years of experience with structured credit
- Three years managing a portfolio of various leverage facilities including CLOs; generating reports and tracking investment activity and compliance tests
- Experience developing and utilizing financial models and reviewing financial statements, market data, portfolio metrics, capital structure, and compliance tests for CLO transactions
- Experience reviewing issuer research, credit trends, and sector-related issues
- Experience providing analytical oversight, documenting and implementing workflow processes, and conducting data quality checks using Excel VBA and Python
- Experience with CLO legal documentation including payment waterfall, investment quality tests, and concentration tests used in rating agency CLO analysis
- Ability to build integrated fund reporting workflows using Power Query and Power Automate
What We Do
Founded in 1999, Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. With approximately $36 billion of assets under management and more than 360 employees, Audax is a leading capital partner for middle market companies, operating through three distinct business lines: Audax Private Equity, Audax Private Debt, and Audax Strategic Capital. For more information, visit the Audax Group website www.audaxgroup.com.
