Position Summary
Carlyle is seeking a highly motivated Associate to join the Global Credit platform’s ABF Asset Management team. This individual will support Carlyle’s Asset-Backed Finance strategies helping to manage fund-level liquidity, asset-level leverage, borrowing bases, warehouse facilities, and liability modeling across a diverse set of structured credit vehicles. The role requires a strong understanding of credit assets and financing structures, and the ability to collaborate across investment, finance, operations, and capital markets teams.
Primary Responsibilities
Portfolio & Liability Management
- Working with PM/Group Head on portfolio construction and selection and sizing of investments for various portfolios
- Ensure portfolio is being constructed to deliver the target cash yields/returns and diversification within the constraints of the investment guidelines
- Optimizing the portfolio and liability side of Carlyle ABF managed vehicles to deliver higher returns and yields to investors
- Build and maintain models incorporating cash flow forecasts, interest expense, advance rates, waterfall mechanics, reinvestment assumptions, and covenant considerations.
- Evaluate the impact of new originations, repayments, market dynamics, and structural changes on liquidity, leverage, and headroom.
- Produce scenario analyses and stress tests to support portfolio decisions, risk assessments, and capital allocation.
Liquidity & Cash Management
- Develop detailed short, medium, and long-term liquidity forecasts across ABF funds and financing structures.
- Coordinate with Fund Management, Portfolio Management, and Investment Teams to anticipate capital calls, fund flows, warehouse ramp schedules, and forecasted collateral payments.
- Monitor triggers, coverage tests, borrowing limits, and liquidity risks across asset-level and fund-level credit facilities.
- Provide insights to optimize liquidity buffers, enhance capital efficiency, reduce financing costs, and improve leverage deployment across strategies.
Financing, Leverage & Facility Execution
- Manage day-to-day operations and strategic planning for:
- Warehouse credit facilities
- Subscription lines
- NAV and hybrid lending arrangements
- Rated feeder structures
- ABS issuances
- ABS term financings
- Prepare borrowing base calculations, covenant tests, collateral audits, and lender reporting packages.
- Coordinate with lenders, agents, trustees, and internal teams to support facility execution and ongoing compliance.
Borrowing Base, Warehouse & Collateral Oversight
- Produce accurate and timely borrowing base reporting for lenders and fund-level credit facilities.
- Monitor eligibility criteria, concentration limits, performance triggers, and portfolio composition rules across facilities.
- Support collateral onboarding, data validation, loan tape preparation, and trustee/tracking agent coordination.
- Maintain and enhance facility models to track availability, advance rates, concentration impacts, collateral migration, and structural headroom.
ABS Modeling & Surveillance
- Build and maintain ABS liability and cash flow models incorporating rating agency methodologies, waterfall mechanics, and structural tests.
- Support efficient leverage ramp and ongoing optimization of warehouse and ABS structures.
- Deliver analytical support for investor reporting, noteholder communications, and performance analyses.
- Track key performance metrics, including credit enhancement, collateral quality, trigger tests, prepayment behavior, and asset-level cash flows.
Investment Team Collaboration
- Partner with deal teams on new investments, asset onboarding, forward funding needs, and facility eligibility considerations.
- Provide real-time leverage, liquidity, and structural insights to support asset selection, diligence, and portfolio construction.
Fund Management & Portfolio Management
- Collaborate with Fund Management to align liquidity planning, capital activity, and financing strategy with fund objectives and investor requirements.
- Provide leverage and liquidity analytics to support fundraising, investor Q&A, and periodic portfolio reviews.
- Partner with accounting and operations on reconciliations, loan onboarding, data integrity, valuations, and financial reporting processes.
Requirements
- 1–3 years of experience in ABS, CLOs, structured credit, private credit, financial analytics, Portfolio & Liability Management, or financial operations roles within asset management, banking, or structured finance platforms.
- Experience with loan-level datasets, securitization or warehouse reporting, or structured finance analytics.
- Strong organizational skills and exceptional attention to detail.
- Ability to manage multiple time-sensitive deliverables in a dynamic, cross-functional environment.
- Excellent communication skills, including the ability to translate technical data concepts into clear insights for non-technical stakeholders.
Benefits/Compensation
The compensation range for this role is specific to New York, NY, and takes into account a wide range of factors including but not limited to the skill sets required/preferred; prior experience and training; licenses and/or certifications.
The anticipated base salary range for this role is $110,000 to $150,000.
In addition to the base salary, the hired professional will enjoy a comprehensive benefits package spanning retirement benefits, health insurance, life insurance and disability, paid time off, paid holidays, family planning benefits and various wellness programs. Additionally, the hired professional may also be eligible to participate in an annual discretionary incentive program, the award of which will be dependent on various factors, including, without limitation, individual and organizational performance.
Due to the high volume of candidates, please be advised that only candidates selected to interview will be contacted by Carlyle.
Company Information
The Carlyle Group (NASDAQ: CG) is a global investment firm with $477 billion of assets under management and more than half of the AUM managed by women, across 678 investment vehicles as of December 31, 2025. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 2,500 professionals operating in 27 offices in North America, Europe, the Middle East, Asia and Australia. Carlyle places an emphasis on development, retention and inclusion as supported by our internal processes and seven Employee Resource Groups (ERGs). Carlyle's purpose is to invest wisely and create value on behalf of its investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments - Global Private Equity, Global Credit and Carlyle AlpInvest - and has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.
At Carlyle, we believe that a wide spectrum of experiences and viewpoints drives performance and success. Our CEO, Harvey Schwartz, has stated that, "To build better businesses and create value for all of our stakeholders, we are focused on assembling leadership teams with the strongest insights from a range of perspectives." We strive to foster an environment where ideas are openly shared and valued. By bringing together teams with varied expertise and approaches, we enjoy a competitive advantage and create a stronger foundation for long-term success.
