Investment Director (Long Duration Credit)
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.
To originate and manage investments of the Private Credit and Alternative income team’s mandates. Predominant focus is directly originating, underwriting and structuring performing Investment Grade like private credit across the corporate, structured, project finance credit space across primary and secondary markets.
Target markets for deployment include but are not limited to: Longer duration credit (>10yrs)
Private placement lending
Housing association, local authority lending, other quasi sovereign
Long duration real estate lending (income strip financing, Ground rents)
An appetite to originate and structure across the credit spectrum
To originate, underwrite and structure credit transactions on a direct and co-investment basis.
Make formal investment recommendations to Approvals Committee (AC) and Private Markets Investments Committee (PMIC) primarily for PC&AI and across PMG
Manage and oversee complete transaction processes. Including leading a transaction team, liaising with key internal stakeholders and managing external workstreams such as legal, credit/commercial, financial and tax due diligence
Responsible for post transaction monitoring and asset management of investments to include quarterly reporting, calendar year end and financial year end valuation papers, liaising with borrower counterparties and management of 3rd party service providers.
Manage and develop key origination relationships with sponsors, intermediaries and corporates.
Represent USS on advisory boards and portfolio company boards as well as within industry including attendance and presenting at conferences and proactively promoting PMG’s investment strategy and team
Proactively participate in operational aspects of the PMG, suggesting and implementing efficiencies or changes in process, procedures or structure where necessary
Provide line management to individual analysts in addition to mentoring and support to all associates and analysts.
• Experience of private credit, of which 4+years as a principal underwriting direct private credit transactions.
• Experience of managing M&A/debt underwriting processes
• Strong origination network across banking/insurance/issuers
• Excellent financial modelling skills, strong understanding of company valuation techniques and portfolio construction
• Ability to deliver high quality work under constrained timelines
• Competent at prioritisation, process organisation, and management of multiple workstreams
• Ability to influence, to fulfil investment decisions
• Additional language skills preferred
• First degree in finance related subject from a top-tier university
• A post graduate qualification, either CFA or an MBA is desired
• Accounting qualifications would be regarded favorably
• Knowledge of the private equity/private credit community
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.