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 $26 billion across more than 850 established U.S. middle market companies in support of over 240 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 focus on underwriting first lien senior secured loans as well as monitoring existing investments across all the Audax Senior Debt portfolios. 

The Credit Analyst will evaluate new private credit investments by performing thorough fundamental analysis to formulate a clear credit view and recommendation; manage and analyze the financial performance of the companies under management; present at regular portfolio review and watchlist meetings; periodically analyze incremental investment opportunities in both the primary and secondary markets; evaluate amendment requests; follow industry trends; maintain current view of credits under management, and become proficient with legal documentation over time. 

The analyst will enhance their credit skills across the investment process and will gain exposure to a wide range of industries. 

RESPONSIBILITIES:

• Analyze new investments opportunities to support sponsor-based LBO transactions. 
• Develop in-depth understanding of each company’s business model, financial performance trends, growth drivers and credit risks.
• Perform financial and technical analyses, develop financial models based on company and industry data to determine potential performance.
• Conduct thorough industry and business due diligence including assessment of credit risks and valuation. Devise methods for gathering and assessing financial and market data through primary and secondary sources.
• Diligently monitor a portfolio of ~20 existing investments including financial reporting, ratings changes, news, amendments and waivers.
• Effectively communicate credit views and recommendations to committee members, both written and verbally for new investments as well as existing accounts under management. 

 QUALIFICATIONS:  

• Bachelor’s degree required. 
• 2-6 years investment banking, direct lending, structured credit, or similar experience.
• Experience in managing a portfolio of senior debt investments.
• Ability to manage and generate detailed reports and presentations tracking the activity of a sizeable private debt portfolio.
• Ability to develop and utilize complex financial models.
• Ability to assess the credit quality of potential investments. 

For New York City only: The base salary range for this position is [$110,000 - $150,000]. 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.

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 DESCRIPTION: 

This VP position will focus on underwriting and managing a portfolio of senior secured loans that will include first lien, unitranche, and in some cases junior debt facilities. The loans will include agency, co-lead, joint-lead and club member for private credit and broadly syndicated loans.

The Vice President will provide oversight and direction on new investment underwriting for junior team members, providing direction for key areas of focus with senior team and committee members, including , facilitate negotiations on grids, term sheet and broader credit documents, communicate periodic analysis on the financial performance of the companies under management, present at portfolio review investment committee and watchlist meetings, analyze incremental investment opportunities, evaluate amendment requests, follow industry trends, make follow-on primary and secondary market investment recommendations and aid in originators pitching new opportunities to sponsors. The candidate should have proficiency with credit documentation from grids, term sheets, credit agreements and related documents.

Responsibilities:

• Conduct industry and business due diligence devising methods for gathering and assessing financial and market data through primary and secondary data sources  
• Drive due diligence process, new investment and portfolio monitoring workstreams  
• Perform financial and technical analyses, develop financial models based on company and industry data to determine appropriate structures, downside protection and potential performance 

Qualifications:

• Bachelor’s degree
• 8+ years investment banking, direct lending, structured credit or similar experience with preference with experience in sponsor-backed direct lending
• Experience underwriting lead opportunities and managing a portfolio of senior debt investments.
• Ability to manage multiple processes for live transactions including refinancings, auctions, in various stages with close attention to detail and ability to generate detailed summaries and presentations to summarize diligence completed and update senior team members on activity of 20+ portfolio accounts
• Ability to structure and negotiate legal documentation including grids, commitment letters and broader credit documentation
• Ability to oversee and synthesize financial models, provide direction to junior team on diligence, accounting and financial concepts, data room summaries, and interface with sponsors
• Ability to assess the credit quality, structural soundness and legal risks of potential investments

For New York City only: The base salary range for this position is $150,000 - $225,000. 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.

TEAM SUMMARY: 

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 $26 billion across more than 850 established U.S. middle market companies in support of over 240 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 focus on: (i) managing all leverage facilities that support both existing and new funds and SMAs, as well as (ii) focus on portfolio efficiency and return optimization for each investment vehicle.  This is an opportunity to join a growing platform at a well-established firm and work with a team that is lean, extremely cohesive, and very collegial.  The existing  

team has invested through multiple credit cycles together. 

RESPONSIBILITIES:

• Negotiate terms on new and existing leverage facilities
• Help maintain and build relationships with new and existing lending institutions
• Model portfolio and return impact from changes in leverage facility terms
• Construct portfolios of loans for new CLOs that meet certain investment criteria
• Analyze the existing portfolios of senior loans to identify secondary market opportunities
• Assist in the monitoring of compliance tests within all leverage facilities 

REQUIREMENTS/QUALIFICATIONS: 

• Bachelor’s degree 
• 2-4 years structured credit, balance sheet lending, fund finance, or similar experience
• Experience in managing a portfolio of leverage facilities
• Ability to manage and generate detailed reports and track the activity of a sizeable private debt portfolio
• Ability to develop and utilize complex financial models 

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 $110,000 - $150,000. 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.