Associate Asset Manager
Business Area: Private Markets
Place of Work: London
Contract Type: Permanent
Hours: Full Time
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Working with Higher Education employers to build a secure financial future for our members and their families.
• PMG is responsible for the origination, investment and asset management of private market activity on behalf of the Universities Superannuation Scheme (USS). PMG comprises 50+ individuals working across Private Equity, Infrastructure, Property, Private Credit and Alternative Income (“PCAI”) with over £22Bn in assets under management.
• The current PCAI portfolio includes over £4bn direct credit assets under management including:
o a joint venture to provide senior debt facilities to leading European direct lending managers,
o an equity release mortgage origination platform,
o a UK mid-market renewable lending platform,
o a shared ownership lending portfolio; as well as other debt and warehousing facilities.
• The Credit Associate Asset Manager will support the Asset Manager in the overall management of PMG’s credit exposure including investment onboarding, monitoring, analysis and reporting.
Specific Functional Responsibilities:
• In collaboration with the PCAI investment team, manage and oversee the full asset management model for PMG’s direct credit investments. Including leading on the day to day asset management for credit platforms, liaising with key internal stakeholders and managing external workstreams such as legal, credit/commercial, financial and tax.
• Full ownership for third party servicers including contract negotiation, relationship management and provision of governance and strategic guidance in management of loan portfolios.
• Responsible for committee reporting, managing credit rating assessments and liaising with borrower counterparties.
• Support acquisitions/originations of both individual loans and loan portfolios, and documentation negotiation with regard to loan servicing aspects of the investments.
• Implementation and oversight of best practice operating models to support the on-boarding of new Credit-related investments.
Broader PMG / AM Responsibilities:
• Proactively participate in operational aspects of the PMG, suggesting and implementing efficiencies or changes in process, reporting, procedures or structure where necessary; as well as be a point of contact for support and control teams within USS.
• Potential to be given line management responsibilities for some of the analysts/associates working within the AM team in addition to mentoring and supporting opportunities with PMG’s investment analysts and associates.
• Demonstrable track record of asset management of privately-held companies within a Credit setting, of which 2+ years as a portfolio or asset manager (Private Equity or Infrastructure experience, or in areas such as mortgage or CRE portfolio management, will also be considered)
• Likely to have worked in a similar role within: Credit Adviser, Investment Bank, Commercial Bank, Pension Fund, Asset / Fund Manager, Financial Services’ consultancy / transaction services.
• Strong understanding of lending market in terms of key originators and service providers.
• Detailed knowledge of credit investments, legal agreements and servicing
• Self-starter with ‘can do’ attitude, highly organized, ability to prioritise and management of multiple workstreams
• Ability to deliver high quality work under constrained timelines
• Excellent interpersonal skills and a team player
• Highly numerate (Accountancy/CFA qualification is considered advantageous but not a necessity)
• Familiarity with sale agreements, servicing contracts and financing term sheets.
• Experience establishing credit origination platforms.
• Great attention to detail, strong verbal and written communication
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We recognise the diverse lifestyles and priorities of our employees and have reflected this in in the company’s Flexible Working Framework, which, wherever possible, supports employees to find a balance that works for them whilst ensuring we always put our members’ interests first