Strategic Investments Principal (Credit)

POSITION SUMMARY

The Strategic Investments Group is a multi-strategy investment team within GCM Grosvenor that invests across asset classes, security types, industries and regions and maintains the flexibility to implement investments both directly and alongside third-party partners.  Today the group manages $6bn of AUM across three types of vehicles: an evergreen, opportunistic fund, three vintages of multi-asset class draw down funds, and a credit-focused drawdown fund.  The platform is growing, as the group recently completed a first close on the third vintage of its multi-asset class draw down fund and expects to complete a first close on the second vintage of the credit drawdown fund by 1Q23. The credit strategy inside of the Strategic Investments Group feeds into the credit-focused fund and allocations into the multi-strategy vehicles as well.  Credit investments spans stressed and distressed credit investments, largely with a focus on corporate credit opportunities in North America.  Credit investments primarily consist of secondary market investments in bonds, loans, trade claims, and post-reorg equities but also include negotiated transactions such as private loans, DIP financings, rescue financings, and troubled new issues.

The Principal will be involved in all aspects of the investment process supporting the credit strategy inside of the Strategic Investments Group, including investment identification, due diligence, transaction execution and investment monitoring.

RESPONSIBILITIES

The individual will be involved in the following critical activities:

• Evaluate and conduct due diligence on credit investment opportunities.
• Evaluate public company materials, private information memorandums and industry reports for potential credit investment opportunities.
• Build detailed operating models and perform valuation and recovery analyses.
• Evaluate bond indentures and credit agreements to assess range of potential transactions.
• Think as a principal investor, converting market knowledge into actionable and well-researched investment recommendations.
• Coordinate with external advisors and external counsel to perform due diligence and review deal terms, as well as negotiate and execute investment transactions.
• Leverage broad network of GCM Grosvenor alternative asset managers to get industry and company insights to inform due diligence process.
• Prepare investment memoranda; present recommendations and due diligence findings to internal committees and clients.
• Provide client management support, including ongoing portfolio management and reporting activities.
• Perform related duties as assigned.

EDUCATION, SKILLS AND EXPERIENCE REQUIREMENTS

The ideal experience and critical competencies for the role include the following:

• 5-9 years of total work experience, including 1-2 years in investment banking, ideally with a focus on restructuring and 1-2 years of buy-side credit experience.
• Bachelor’s degree in Economics, Finance or Accounting with a strong record of academic success is required.
• Superior financial modeling and valuation skills are required.
• Experience with credit research tools such as Reorg Research, Covenant Review, and Debtwire is preferred.
• Ability to work both independently and as a productive collaborative member of a team.
• Desire to work in a fast-paced environment where tight deadlines are the norm.
• Desire to work in an entrepreneurial setting, which involves figuring out how to get things done, and stepping up to make sure things get done and being comfortable with a lack of neatly delineated job responsibilities
• Ability to “captain” the execution of deals from cradle-to-grave, including coordinating with operations, treasury, legal teams internally.
• Desire to work on investments across the credit spectrum, including performing, opportunistic, growth-oriented, converts, and distressed debt.
• Ability to balance multiple concurrent projects.
• Outstanding verbal and written communications skills.
• Outstanding organization, decision making and problem-solving skills.
• Entrepreneurial attitude and ability to advance work product independently.
• High degree of integrity and ethics.

In terms of cultural fit, the successful candidate will be self-motivated and energized by working amongst a group of thoughtful, smart and successful colleagues. The candidate will enjoy being part of an organization focused on excellence and will be a naturally collaborative person who enjoys interacting with individuals at all levels. Additionally, the candidate will be a strong team player with a proactive approach and the ability to exercise discretion and judgment.