Job Description

Responsibilities

The Middle Market Direct Lending strategy offers investors access to privately negotiated debt investment transactions, primarily in North America, to support leveraged buyouts, refinancing and recapitalizations. Investments include senior, unitranche and second lien loans and mezzanine notes. Principal targets investment opportunities across a broad range of industries including healthcare, industrials, consumer products, software and business services.

Our Direct lending team is seeking an Associate Underwriter to aid in the origination, due diligence, credit underwriting, execution, and portfolio monitoring of private debt investments.

Key Responsibilities:

Work with assigned Senior Underwriter to perform due diligence on new direct lending transactions
Attend management presentations, review deal terms and credit agreements
Lead key areas of due diligence including business and quantitative analysis as well as industry driven research
Develop detailed financial models and sensitivity analyses to assess performance scenarios and capital structure alternatives
Prepare and present written investment committee memorandum and presentations
Actively monitor portfolio company performance

Qualifications

We’re looking for someone with:

Bachelor's degree in a technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics)
2+ years Investment Banking experience. Previous experience working with direct lenders is preferred.
Ability to construct financial models such as three statement financial models and Leveraged Buyout models.
Ability to understand basic accounting principles and economic theory, interpret financial documents, and efficiently and optimally research, compile and analyze information
Excellent interpersonal, verbal and written communication skills.
Ability to work well independently and as part of a team.
Time management, analytics and use of Excel required.
Must be collaborative, able to build and maintain positive relationships, manage expectations, attend to details, multi-task and prioritize effectively.
Keen sense of curiosity and forward-thinking thought process desired.
A self-starter with a strong work ethic and resourcefulness.

Preferred Experience:

Undergraduate GPA of 3.5 or above and progress towards CFA 
Previous experience with Bloomberg 
Background or experience in leveraged finance, private debt, and/or related transactional experience
Knowledge of financial markets and fixed income strategies, including general knowledge of bond mechanics and pricing calculations 

This position may be subject to SEC restrictions on personal political contributions.

Additional Information

Location

We’re open to considering talent in the Chicago, Des Moines and New York area.

Work Authorization/Sponsorship

At this time, we're not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role. (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)

Investment Code of Ethics

For Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

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