Direct Lending Senior Underwriter - Jefferies Finance LLC

Employer
Jefferies
Location
New York, USA
Salary
Competitive
Posted
Jun 19, 2019
Closes
Jul 11, 2019
Ref
5622551
Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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


Qualifications
  • 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

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