Director - Private Debt Investments - ABL, Specialty Credit, Opportunistic - StepStone Group
New York City, NY
About the Job
StepStone is a rapidly growing Global Private Markets firm who provides customized investment and advisory solutions to some of the most sophisticated investors in the world. With $675 billion of total capital allocations, including more than $169 billion in AUM, we are highly diversified in the private markets across the globe and provide creative solutions to solve for the objectives of any investment program. With a culture built on entrepreneurialism, partnership and being a team within teams, our firm offers joiners the opportunity to think out loud, collaboratively.
Director - Private Debt Investment
Position Overview
The Director will work in a team environment with other StepStone team members and will take on a leading role in the US for (a) Research and (b) Advisory in the coverage spaces ABL (e.g., Aviation, Shipping, Trade Finance), Specialty Credit (e.g., Consumer, RegCap, Royalties, Venture/Software), and Opportunistic. StepStone prides itself on the Firm's collegial atmosphere, encouraging team‐building initiatives and a collaborative approach to accomplishing projects. The Director will have exposure to all levels of the Firm, from the Partners to Analysts, on a daily basis.
Essential Job Functions:
Research (encompasses research on Primary Funds, Separately Managed Accounts, Secondaries and Co-Investments):
- Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation
- Interpret financial analyses prepared by target fund managers, including investment track records and financial statement analysis
- Assist in constructing arguments regarding decisions to invest or not invest, and communicate that argument efficiently in written materials; be able to defend position in a team environment, including Investment Committee meetings
- Write Fund Summaries and Investment Memorandums in line with StepStone standards
- Use creativity to analyze data and to test hypotheses regarding attractiveness of specific sectors and investment opportunities
- Form an independent opinion about the attractiveness of an investment opportunity; clearly articulate findings
- Analyze and monitor the performance of the firm's existing fund managers and/or underlying investments; prepare for and participate in meetings with assigned managers, and conduct on‐going due diligence
Advisory:
- Interact directly with and co-manage relationships with clients with an allocation to Private Debt including periodic calls and meetings; be able to present research views, and convincingly discuss and defend the choice of investment strategies and individual investment opportunities
- Develop and present portfolio allocation and cash flow models using StepStone portfolio construction tools consistently with client's risk and return requirements
- Assist in constructing investment guidelines for client mandates; develop portfolio allocations to individual strategies, investment sizing guidelines, and construct investment pipelines
- Regularly monitor the performance of client portfolios; present and convincingly communicate to clients the performance of their portfolio and individual investments
- Assist Sales and Client Support teams on Requests for Proposals (RFPs), the preparation of client portfolio materials, and any queries regarding portfolio construction, the suitability of specific investments to client portfolios, and other portfolio management and investment selection queries
Other Desired Skills/ Attributes:
- Minimum of 6 years of applicable experience, with a minimum of 3 years in the coverage spaces mentioned above
- Fluent in English
- Ability to represent the firm credibly in written and interpersonal communications
- High proficiency in Word, PowerPoint and Excel
- Flexibility – StepStone is a dynamic and entrepreneurial organization; all professionals are expected to perform multiple functions
- Ability to promote and demonstrate a positive, team-oriented attitude
- Experience in valuation and investment analysis
Base Salary Range: $140,000-$180,000
About us
Working out of 26 offices in 15 countries, StepStone has a truly global viewpoint. As people are our biggest asset, we offer resources to help our employees reach their full potential. Our principles are based on integrity, transparency, respect and creativity, which together define how we do business.
Join us
When you choose to work at StepStone, you'll find a group of professionals who are passionate about anticipating changes, solving problems and working together to make it all happen. Our integrated global team shares insights into how managers think and operate, as well as how they might perform.
StepStone offers a competitive compensation package including salary and incentive compensation for all full time hires, as well as a comprehensive benefits package.
Benefits
We offer a range of benefits which include comprehensive healthcare, strong retirement plan, a mental health well-being program, paid time off, student loan repayment program for our US office locations, and several wellness initiatives.
Disclaimer / Policy Statements
At StepStone, diversity, equity and inclusion are an integral part of our culture. We are an Equal Opportunity Employer that strives to create an inclusive environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups representing our dedication to Diversity, Equity & Inclusion.
As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.
Developing People at StepStone
#LI-Hybrid