Alcentra - Special Situations Analyst

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • BNY Mellon Investment Management
  • 25 Mar 19

Alcentra - Special Situations Analyst

Job Purpose:

Europe currently presents an attractive investment opportunity for distressed debt investing given ongoing bank deleveraging and the late stage credit cycle. Alcentra is further developing its Special Situations business to capture this opportunity. The business is co-led by Portfolio Managers Laurence Raven and Eric Larsson, who each have in excess of 12 years' experience from distressed investing, as well as by a team of analysts. In addition, David Forbes-Nixon, the CEO of Alcentra, who has been involved in the distressed market since its inception in 1992, is actively involved in the business as Senior Portfolio Manager of the Strategic Credit Fund and chair of the investment committee.

In anticipation of further growth in assets under management following the successful launch of the Strategic Credit Fund, the firm now plans to recruit a Research Analyst to further strengthen the stressed and distressed team. The individual will be a member of the core investment team, investing in European stressed and distressed companies at a steep discount to intrinsic value and will report into the Portfolio Managers.

The role offers the successful candidate a rare opportunity to join a rapidly growing business inside top performing investment firm, working with a dynamic group of people who are experts in their field.

Company Overview:

Alcentra is a global asset management firm specializing in sub-investment grade debt with assets under management of approximately $38 billion. Alcentra employs 163 people, including 72 investment professionals. The firm has an investment track record that dates back to 1998 and strategies that include: senior loans, high yield bonds, direct lending, structured credit, special situations and multi-strategy credit. The investor base includes pension funds, insurance companies, sovereign wealth funds and high net worth individuals. Alcentra is owned by BNY Mellon Asset Management and headquartered in London, with offices in New York, Boston and San Francisco and representation in Singapore and Hong Kong.

Alcentra has been an investor in the stressed and distressed market since 2007, with coverage across a broad range of European sub-investment grade credit opportunities. The strategy benefits from exceptional competitive advantages with regards to sourcing of investment opportunities given Alcentra's position as one of the largest and longest established managers in the European sub-investment grade market. The majority of investment ideas are sourced internally from the Alcentra franchise, drawing on the knowledge of the wider European analyst team covering the syndicated loan and HY markets on a sector by sector basis. The stressed and distressed business currently manages approximately $1.3 billion across its Strategic Credit and Special Situations Funds. Performance of the open end Special Situations fund was an industry leading net 23.4% in 2015 and since 2008 the fund has delivered average annualized net returns of 15.0%.

Responsibilties:


  • Analyze investment opportunities including financial modelling, valuation, legal, structuring and other analysis on potential deals.

  • Assist in negotiations with different stakeholders (lenders, management and sponsors) as part of the restructuring process.

  • Help manage and monetize existing investments.

  • Screen the market for potential investment opportunities and develop contacts with a network of potential sources of investment ideas including sell-side banks, advisors, law-firms, corporates etc.

  • Assist in managing the deal pipeline and coordinate with the team to identify help develop potential investment opportunities.


Qualifications

Qualifications & Experience

  • The successful candidate will have 4 to 6 years of previous credit experience in leverage finance, banking, credit research or restructuring advisory with a comprehensive knowledge of the leveraged finance market and investment products.

  • Experience of restructuring situations across UK and continental Europe is advantageous.

  • Disciplined thinking, sound judgment and courage of conviction with a willingness to take balanced risk.

  • Excellent English written and verbal communication skills are required, while fluency in another European language would be advantageous.

  • Exceptional interpersonal communication and presentation skills. The successful candidate will be required to interface with a number of professionals across Alcentra's business, in addition to outside professionals, including management teams, investment bankers, and other members of the European distressed investing community and other intermediaries.


Personal Characteristics



  • The successful candidate must have high level of energy, a positive attitude and a results orientated personality. They must be able to operate in a fast paced, performance and team based environment with a willingness to help development of other team members.

  • They must be a self-starter and show a high degree of maturity and initiative as well as an entrepreneurial drive and be excited in assisting in the development of a growing organization.

  • The successful candidate has to fit Alcentra's collaborative and ambitious culture and be motivated to assist in the success of the group as a whole. They need to be able to partner effectively with the broader business development team to achieve optimal coverage for each market and to continue the development of a first class and cohesive client services function.

  • Unassailable ethics and unimpeachable integrity are a must. The candidate must always act in the best interests of the clients and the firm.

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BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: United Kingdom-Greater London-London
Job: Asset Management
Internal Jobcode: 51660
Organization: Alcentra Group-HR13364
Requisition Number: 1900993