Frankfurt Associate, Private Credit
About the job:
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, with offices in in Frankfurt, Luxembourg, Madrid, Milan, New York, Paris and Tel Aviv and employs approximately 170 people. BCI, one of the five largest Canadian pension plans, is the majority shareholder in Hayfin.
The Private Credit team is seeking an associate in Frankfurt 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.
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
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
Support and participate in activity of the deal team from A to Z
Observe and understand the building blocks of a deal
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:
Native German speaker with fluent English
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