The current PCAI & LIP portfolio includes over £6bn of assets under management including:
Specific Functional Responsibilities:
- a diversified UK long-duration, inflation-linked property lease portfolio, including sale and leasebacks, income strips and ground rents;
- an equity release mortgage origination platform;
- a UK mid-market renewable lending platform;
- equity investments in credit originators in the UK & US;
- a shared ownership lending portfolio; as well as other debt and warehousing facilities.
• Proactively monitor and assess asset performance versus covenants / KPIs / credit rating methodologies / macro events; along with implementing systematic stress testing. Present material updates at the Credit & LIP PRC.
• Manage life cycle events in accordance with the Lender rights under the loan documents and ensure any amendments are appropriately legally documented; and present analysis at the credit and asset management committee forums.
• Perform the quarterly Credit & LIP investment valuation process, assisting on valuation model updates and oversee the model risk framework.
• Manage credit rating assessments alongside the investment and private markets risk team.
• Support thematic and portfolio analysis across the PCAI & LIP portfolio assets for PRC.
• Collaborate with the PMG investment teams on pre-execution due diligence relevant to both the investment case for acquiring the asset as well as to ongoing asset management considerations.
• Implement standard credit operating models for newly acquired direct loans, loan portfolios, LIP assets and credit lending portfolio companies alongside senior members of the Asset Management team.
• Through the asset management planning process, partner with key stakeholders in developing key strategic and operational goals with appropriate KPIs / covenants / credit rating analysis.
• Oversight of third party servicers including relationship management, borrower & servicer reporting, analysing investment performance and preparing PRC oversight materials.
• Co-ownership of key third party relationships with Borrowers and Advisors.Experience & Skills
• Experience of asset management of privately-held companies with credit exposure (Private Equity or Infrastructure experience, or in areas such as mortgage or CRE portfolio management, will also be considered). Having worked in a similar role within: Credit Adviser, Investment Bank, Commercial Bank, Pension Fund, Asset / Fund Manager, Financial Services' consultancy / transaction services.
• Highly numerate (Accountancy / CFA qualification is considered advantageous but not a necessity).