Director, Direct Lending - Liberty Mutual Investments

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.

• Contribute as an integral member of the Direct Lending Group to invest in private debt financings across the capital structure. The Direct Lending Group is part of the Global Credit Markets business unit.
• The successful candidate will be a hands-on investment professional with a strong background in credit, deal execution, and legal documentation. The role is divided between originating and reviewing new investment opportunities and managing existing investments.
• For new deals, the Director will lead deal teams consisting of Direct Lending and Credit Research team members to conduct company and industry research and to develop investment recommendations.
• Further, as a team leader, the Director will quarterback the entire deal process from start-to-finish, including:

• Drive 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
• Guide junior resources through deal screening, investment committee memorandum preparation (complete with financial projections / review of financial models), and executing credit documentation
• Leverage your existing and establish new coverage relationships with private equity firms across the lower, middle, and large market, as well as other deal sources to help meet the Direct Lending Group's origination targets
• Be a senior representative of the Direct Lending Group externally; drive regular engagement 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
• Take an active role in the training, development, and coaching of the team's junior resources

• The role requires an individual with extensive credit investment experience, the ability to communicate effectively with internal stakeholders and external clients, and established skills in financial sponsor relationship management across a diversified set of industries
• 10 - 15+ years of direct investing experience, including a minimum of 10+ years in the direct lending / private credit space
• Demonstrated track record in underwriting and managing leveraged credit, from initial investment through realization
• Previous experience in directly sourcing investment opportunities through Sponsors, Borrowers, and or third parties
• Proven ability to interact with, assess, and build relationships with Borrowers, Sponsors, and other deal sources
• Previous experience with key legal and economic terms central to structuring and negotiating private loans
• 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

• California
• Los Angeles Incorporated
• Los Angeles Unincorporated
• Philadelphia
• San Francisco