Direct Lending Senior Underwriter - Jefferies Finance LLC Direct Lending Senior Underwriter - Jefferies  …

in New York, NY, United States
Permanent, Full time
Last application, 16 Jul 19
in New York, NY, United States
Permanent, Full time
Last application, 16 Jul 19
Direct Lending Senior Underwriter - Jefferies Finance LLC
Founded in 2004, Jefferies Finance LLC ("JFIN") is a leading leveraged loan investor and arranger owned equally by MassMutual and Jefferies GroupLLC ("Jefferies"). JFIN manages more than $10 billionof capital across three business lines:
    • Direct Lending Investment Management: Senior debt investments in Private Equity Sponsor ("Sponsor") owned middle market businesses
    • CLOs (Apex Credit Partners): 15 CLOs investedin broadly syndicated Sponsored loans. JFIN acts as manager and also invests in different tranches of CLOs under management.
    • Loan Underwriting and Arrangement: JFIN has been the leading arranger of loans to PE Sponsorsin the US in both 2017 and 2018
  • JFIN originates investment opportunities through an exclusive partnership with Jefferies and its team of more than 800 investment bankers that are focused on transacting with Sponsors across the capital markets
  • JFIN's Direct Lending team is seeking a Senior Underwriter to expand its team of credit investment professionals. The Senior Underwriter will report to the Chief Investment Officer.
    • The Direct Lending team invests proprietary capital and commitments from third party investors in senior debt portfolios that finance Sponsor-related activity including:
      • Leveraged buyout transactions
      • Add-on M&A financings
      • Recapitalizations and refinancing
    • The Senior Underwriter will be supported by a team of credit-trained junior analysts and associates and work closely with a dedicated team of senior and junior portfolio managers. The Direct Lending team also leverages JFIN's team of in-house transaction lawyers and agency services and operations professionals that are part of JFIN's team of more than 80 employees.
Job Description
  • The Direct Lending Senior Underwriter is responsible for leading a credit investment team in the evaluation of new direct lending investment opportunities. Responsibilities include:
    • Working in coordination with the Direct Lending Team's originations staff to structure new investment opportunities
    • Lead the investment team through comprehensive due diligence that includes:
      • Direct interaction with investment professionals at private equity firms throughout the diligence process
      • Identification of key risk factors and areas of due diligence focus
      • Review of borrower, Sponsor,and 3 rd party information
      • Participation in both telephonic and in-person due diligence meetings with Sponsors and borrowers' senior management teams
      • Draft approval memoranda and ensure accuracy and completeness prior to submission to the Investment Committee
    • Present investment opportunities at Investment Committee meetings, providing a summary of key diligence findings and support for each recommendation made to the Investment Committee
    • Negotiate and draft credit documentation including term sheets, commitment papers and credit agreements in conjunction with the in-house legal team and outside legal counsel
    • Oversee deal closing process to ensure compliance with policies and procedures, seamless funding of transactions, completeness of deal files and handoff of transactions to portfolio management teams
    • Participate in ad-hoc discussions of all direct lending investment opportunities as part of the senior underwriting team
    • Monitor, train and mentor junior underwriters throughout the due diligence and approval processes

  • Undergraduate degree from a leading institution; concentration in Finance, Accounting, or Economics preferred.
    • MBA or CFA a plus
  • 5-10 years of private credit investment experience
    • Prior experience investing in Sponsor transactions is preferred
  • Formal credittraining a plus
  • Ability to audit financial models constructed and populated by junior team members
  • Excellent written and verbal communication skills
  • Ability to work well independently and as a leader of a small investment team
  • Available for travel (approximately 1x-2x per month)
  • Live in or within commuting distance of New York City