Associate, Private Credit

Hayfin - London
06 Apr 2021

Company profile:

Hayfin Capital Management is one of Europe’s leading alternative asset management firms, with a heritage in private credit. Since inception in 2009, Hayfin has invested more than €23bn of capital across more than 370 portfolio companies. The firm was founded with the ambition of creating one of Europe’s leading investment platforms and delivering best-in-class risk-adjusted returns.

Hayfin is headquartered in London and also has offices in Frankfurt, Luxembourg, Madrid, Milan, New York, Paris and Tel Aviv and employs approximately 160 people. BCI, one of the five largest Canadian pension plans, is the majority shareholder in Hayfin.

Position description:

The Private Credit team is seeking for an associate who will work as part of the deal team or directly with senior team members with a focus on fundamental credit analysis, due diligence and portfolio monitoring. The role will also require contribution to the deal origination process.

Responsibilities:

ORIGINATION

Support team to track relationships and participate directly in sourcing and origination effort:

§ Attend and support preparation for client meetings

§ Maintain and grow personal network

§ Support preparation ahead of monthly team sessions

 

CREDIT ANALYSIS & DUE DILIGENCE

Primary responsibility for credit analysis and modelling:

§ Build company model including low, mid and high case based on companies KPIs

§ Owns company and commercial and market research

§ Conduct rigorous due diligence based on guidance from senior team member and in coordination with due diligence providers

§ Challenge seniors on key assumptions

§ Contribute to production of the investment memo

 

EXECUTION

Develops structuring skills and takes part in negotiations

§ Supports team in negotiating terms

§ Review and understand deal documentation. Use team and counsel to fill gaps in knowledge

§ Understands flow of value/logic from analysis to documents to portfolio performance and returns

 

DEAL CRAFTING

Support and participate in activity of the deal team from A to Z

§ Observe and understand the building blocks of a deal

 

PORTFOLIO MANAGEMENT

Responsible for following assigned credits:

§ Ensure CF, marks and exit assumption in the system are accurate

§ Update the company model with each data from latest monthly or quarterly reports

§ Highlight any change in trends or unexpected results to the senior team member responsible for the credit

§ Discuss changes in forecast with senior team member if relevant

§ Field regular and ad hoc queries and reports including briefing ahead of senior team member monitoring email

 

TEAM & LEADERSHIP

Participate in team projects and priorities:

§ Build relationships and open communication within team and peer groups across firm

§ Understand and embrace firm culture and ways of working

 

Qualifications / Requirements:

The ideal candidate will have:

· A B.A. degree in business, finance or economics.

· 2-4 years’ experience at a top; commercial/investment bank (equity research, credit analytics, fixed income research).

· Direct investment/lending experience

· A firm grasp of debt/equity capital markets and direct investing.

· Advanced Excel skills and very strong corporate modelling and financial valuation skills.

· Strong quantitative and organizational skills.

· Strong communication skills