Senior Associate / Vice President, Restructuring
New York, NY
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Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, and London. Since its founding in 1999, the firm has raised over $40 billion in capital across its Private Equity and Private Debt businesses. With more than 400 employees and approximately 180 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
Audax Senior Debt is a highly successful and very well-established investor in the U.S. middle market private debt industry. Audax Senior Debt has invested over $30 billion across more than 850 established U.S. middle market companies in support of over 250 private equity sponsors. Our primary focus is to invest in first lien senior secured loans to support sponsor-led buyouts. The investment team maintains focus on a deep understanding of credit during both the underwriting and portfolio monitoring process.
POSITION SUMMARY:
This position will be providing continuous monitoring of credit risk and propose action plans directed towards improvement in and resolving underperforming credit situations. The Senior Associate / Vice President will be successfully leading and executing complex restructuring transactions and must have strong financial modeling and communication skills, knowledge of legal documentation, and direct experience with current Liability Management processes.
RESPONSIBILITIES:
- Responsible for managing a portfolio of under-performing credits (primarily 1st Lien Term Loans) and implementation of timely workout strategies, material amendments, and in-court /out-of-court restructurings
- Active Ad Hoc Group member able to devise /promote creative solutions and gain consensus among lender group
- Conduct thorough financial analysis and due diligence on distressed assets, including liquidity projections and valuation /recovery analysis based on multiple projected outcomes
- Partner with team members as credit transitions from performing to under-performing, assume leadership of special situation credits, managing the restructuring process from start to finish
- Review legal documents and negotiate in consultation with internal /external legal and business teams
- Develop and manage relationships with key law firms, financial advisers and lenders in the industry
- Prepare and present company updates providing real-time and ad hoc feedback on request as well as at quarterly portfolio reviews
QUALIFICATIONS:
- Bachelor’s degree required (MBA/JD a plus)
- 8+ years lending experience, preferably including 4+ years of direct workout experience and 4 - 5 years investment banking, direct lending, structured credit, or similar experience
- Advanced knowledge of workout / bankruptcy best practices, identification, resolution and implementation of current strategies
- Excellent analytical and data, written and verbal communication skills
- Proficient with legal documentation and maneuverability, particularly strong experience with current LME structures
- Articulate / able to effectively present and execute ideas within Lender AdHoc Groups
- Able to build and foster external relationships
- Ability to interact with senior level management, experience interfacing with multiple levels of the organizational structure
LOCATION:
New York, New York. 4 days/week in office. These in office requirements may change based on the needs of the business.
For New York City only: The base salary range for this position is $150,000 - $200,000. The base salary range represents the estimated low and high end for this position at the time of this posting. Consistent with applicable law, compensation may vary and will be determined based on but not limited to, the skills, qualifications, and experience of the applicant along with the requirements of the position, and Audax reserves the right to modify this pay range at any time. An employee may also be eligible for annual discretionary incentive compensation based on performance.
Audax offers a wide range of employee benefits, including health insurance, life insurance, disability insurance, paid time off (including sick leave, parental leave, volunteer leave, and vacation), charitable donation match, family support services (including Bright Horizons and Benefit Advocate Center), and a 401(k) in addition to other benefits.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Audax Management Co. is an equal opportunity employer.
Please note that Audax Group and its affiliated entities do not accept unsolicited resumes from a third-party recruiting agency not currently under a signed agreement. Any unsolicited resume that is sent to directly to Audax Group or one of its affiliated entities, or its employees, including those submitted to hiring managers by a third-party recruiting agency not currently under a signed agreement, will be considered property of Audax Group. If a third-party recruiting agency submits a resume without an agreement, Audax Group or its affiliated entities explicitly reserves the right to pursue and hire those candidate(s) without any financial obligation to the third-party recruiting agency. Any third-party recruiting agency should contact either a member of the Talent Acquisition or Human Resource team at Audax Group, in conjunction with a valid, fully executed contract for service based upon a specific job opening.
