About the Business
Our client is a fast-growing private capital asset manager with over £10bn of assets under management across private credit, real estate and private equity strategies.
The business has established itself as a leading specialist in private asset-backed credit, working with a global investor base that includes pension funds, insurers, sovereign wealth funds and leading financial institutions.
The Opportunity
The business is looking to appoint a Senior Associate into its Real Estate Credit Investment team. This is a role offering exposure to the full transaction lifecycle, from assessing and underwriting new lending opportunities through to structuring, execution and ongoing portfolio management.
The successful candidate will play an active role in evaluating new real estate debt opportunities across bridging, development finance, PBSA, care, commercial real estate and term lending. Responsibilities will include building and reviewing financial models, assessing credit risk, undertaking due diligence, developing transaction structures and preparing investment recommendations for approval.
Alongside new deal activity, the role will involve maintaining oversight of an existing loan portfolio, monitoring performance, identifying emerging risks and managing issues throughout the life of each facility.
This is an opportunity for an ambitious real estate credit professional to take on significant investment responsibility within a high-performing team, with exposure to a broad range of transactions and the ability to contribute to investment decisions.
Key Responsibilities
- Evaluate and underwrite new real estate debt opportunities across a range of asset classes and lending strategies.
- Build, develop and review detailed financial models, assessing borrower cashflows, development appraisals, loan returns and downside scenarios.
- Assess credit risk, borrower strength, asset quality, business plans and underlying security.
- Lead and contribute to due diligence processes, working with valuers, lawyers, monitoring surveyors and other external advisers.
- Develop and assess transaction structures, including leverage, pricing, covenants, repayment profiles and appropriate credit protections.
- Prepare investment committee papers, credit recommendations and supporting analysis, presenting key findings and risks to senior investment stakeholders.
- Support the negotiation and execution of new transactions, including heads of terms, facility documentation and completion processes.
- Manage and monitor an existing portfolio of real estate loans, assessing performance against underwriting assumptions and identifying potential risks.
Candidate Requirements
- Experience within real estate credit, lending or debt investment, ideally gained at a bank, specialist lender or real estate debt fund.
- Strong experience in underwriting and assessing new real estate lending opportunities, with exposure to transaction structuring and execution.
- Advanced financial modelling skills, including the ability to build and review cashflow models, development appraisals and investment return analysis.
- Strong understanding of real estate debt structures, credit risk and key investment metrics, including LTV, LTC, LTGDV and IRR.
- Exposure to a range of real estate asset classes, ideally including development finance, bridging, commercial real estate and/or operational assets such as PBSA and care.
- Experience managing or monitoring a real estate loan portfolio, with the ability to identify emerging risks and take appropriate action.
- Exposure to complex credit situations, workouts and restructurings would be advantageous.
- Strong commercial judgement and stakeholder management skills, with the confidence to engage with borrowers, advisers and senior investment professionals.
- Highly analytical, proactive and comfortable taking ownership in a fast-paced investment environment.
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