Director | Managing Director, Sponsor Originations (Direct Lending)
What You'll Do:
As the Director / Managing Director, Originations, you will play a pivotal role reporting to the Head of Principal Direct Lending. Your primary responsibility will be to originate loans through the Private Equity (PE) Sponsor channel. You will collaborate closely and work alongside the entire sponsor origination team to improve efficiencies and performance across the platform.
In addition to originating senior first lien loans, you will also explore opportunities to originate second lien loans, mezzanine debt, and equity co-investments. Here are some of the key responsibilities:
- Originate investment opportunities based on strategic fit and financial return.
- Build and maintain relationships with prospective business owners/targets, investment bankers/business brokers, and advisors.
- Collaborate with existing originators to expand the private equity-focused non-bank senior and unitranche debt origination efforts, aligning with Principal’s investment strategies.
- Provide insights and expertise to drive efficiencies and desired growth for the sponsor origination platform.
- Maintain a deep understanding of each private equity relationship by supervising and reporting material fundraising, investment, and portfolio activities.
- Lead and coordinate with underwriting staff through the screening, underwriting, approval, and closing processes for each financing opportunity.
- Evaluate investment opportunities and provide recommendations based on fit with criteria and preliminary investment theses.
- Support the expansion of Principal’s general marketing efforts, including all products and capabilities.
- Attend and facilitate sessions at lower middle-market focused M&A events, business owner forums, and industry conferences/tradeshows.
Who You Are:
Director, Originations – We’re seeking someone with:
- Bachelor’s Degree required. MBA or CFA expected.
- Strong credit capabilities with 10+ years of relevant middle-market credit and originations experience, including 5+ years of direct underwriting and portfolio management experience.
Managing Director, Originations – We’re looking for someone with:
- Bachelor’s Degree required. MBA or CFA expected.
- Strong credit capabilities with 15+ years of relevant middle-market credit and originations experience, including 5+ years of direct underwriting and portfolio management experience.
- Proven leadership skills specific to the middle-market credit and loan origination market.
Director & Managing Director, Originations – Will have the following:
- Strong sales and negotiating skills along with deep relationships with senior members of leading middle-market private equity firms, demonstrating a history of sourcing a diverse set of attractive financing transactions.
- Comprehensive knowledge of market pricing and terms, coupled with a creative and balanced approach to credit structuring and pricing.
- Experience in managing multi-product transaction teams, leading the execution effort from origination to closing.
- Ability to balance a calm, steady, patient approach to business with a passion to compete and win new business in a highly competitive environment.
- Skill in accepting and managing conflict and disagreement in a constructive and professional manner.
- Travel will be required, up to 50% domestic.
Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance.
Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range: $174000 - $270000 / year
Time Off Program:Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
Pension Eligible: No
Additional Information:
Job Level
We’re open to considering talent at either the Director, Originations or Managing Director, Originations level based on skills and experience.
Work Authorization/Sponsorship
At this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc.For additional information around work authorization needs please use the following links.
https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers and https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants
Investment Code of Ethics
For Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Experience Principal
While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees – individually and all of us together.Explore our core values, benefits and why we’re an exceptional place to grow your career.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Posting Window:We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date.
Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.
Date First Posted (TTF): 4/12/2024
Latest Post Date: Careers - US: 9/20/2024
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