Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
The Company
Liberty Mutual Investments (LMI) manages Liberty Mutual Insurance Group's (LMIG) global financial assets across global markets and private domains to build capital and generate income. With over $100 billion in assets under management (AUM) and a team of nearly 300 investment, finance, and operations professionals located in Boston, MA, and New York, NY, LMI offers the best of both worlds - the look and feel of a boutique investment firm with the reputation and financial strength of a global leader.
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LMI has been on a transformation path to spur innovation, capitalize on deep expertise, and scale its returns on long-term flexible capital through a "one firm, one portfolio, one team" mindset. Our operating model is built on three pillars: centralized portfolio construction, asset management, and investment-enabling services. The teams are structured as Investment Business Units (IBUs) working in concert: Strategy & Asset Allocation, Risk Management, Global Fixed Income, Global Private Investments, and Global Investment Solutions. Our portfolio spans a broad spectrum of public and private asset classes, and we are committed to expanding our capabilities and our toolkit in furtherance of our mission. #LMI
The Position
LMI is actively searching for an Associate to join the Direct Lending team. This individual will be an integral member of the leveraged financed platform within the Global Fixed Income Credit business. Dedicated to the Direct Lending strategy, this Associate will have responsibilities that provide for significant ownership of the end-to-end private credit investment process including sourcing, underwriting and ongoing portfolio monitoring of private loans.
Responsibilities:
- Contribute as an integral member of the team to invest in private debt financings across the capital structure, with an emphasis on unitranche, first lien, and second lien loans.
- Assist in quarterbacking the investment process from start to finish, working closely with Team Leaders and Credit Research to conduct company and industry research, develop investment recommendations, and to manage loan positions post-closing of the initial investment
- Contribute to the preparation of the investment committee memorandums (complete with financial projections) and support Team Leaders in the presentation of the team's investment recommendations to internal investment committees
- Support Team Leaders in the evaluation, structuring, and negotiation of economic and legal terms at both the term sheet stage and during final documentation
- Actively monitor the performance of existing investments and maintain relationships post-close with key investment participants, including the Borrower / Sponsor and Agent; provide detailed updates to team members during scheduled portfolio reviews and as needed on an ad-hoc basis
- Collaborate cross-functionally with additional LMI teams including Legal, Finance, Accounting and Risk Management to execute transactions and manage the portfolio
- Engage externally with other market participants (e.g. other direct lenders and buyside investors, bankers, advisers, and third-party consultants) as part of the overall investment process
- Support relationship coverage with private equity firms across the lower, middle, and large market, as well as other deal sources to help meet the team's origination targets
- Take an active role in the training, development, and coaching of Analysts within the team
- 5+ years of investing experience, including a minimum of 3+ years in the direct lending / private credit space
- Previous experience in underwriting and monitoring credit investments
- Proven ability to interact with, assess, and build relationships internally as well as externally, with Borrowers, Sponsors and other deal sources
- Previous experience with credit agreement documentation and or other relevant legal documentation
- Ability to identify company, industry, and market risks and opportunities, and to evaluate risk mitigation strategies
- Excellent communication skills (written and verbal) with an ability to clearly articulate relevant key learnings and insights derived during the due diligence process
- Self-starter with a willingness to be flexible and take on additional responsibilities depending on the needs of the business
- Strong academic credentials and a demonstrated track record of successful work experience
- Proven ability to work collaboratively in team environments
This position may have in-office requirements depending on candidate location.
As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
We are proud to support a diverse, equitable and inclusive workplace, where all 45,000 employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
- California
- San Francisco
- Los Angeles
- Philadelphia