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Managing Director – Non-Sponsor Originations

Principal Financial Group

This is a Full-time position in New York, NY posted October 21, 2021.

Responsibilities

The Managing Director – Non-Sponsored Originations will report into the Head of Principal Alternative Credit Direct Lending.

The candidate will be responsible to help build the senior debt origination capabilities within the broader Principal platform, as well as opportunistically seek to originate second lien and mezzanine debt.

This position will focus on origination away from the PE Sponsor channel, which will include direct company origination as well as non-traditional sponsor origination.

Key Responsibilities:

The professional will support the group’s effort in developing and managing relationships with potential borrowers, non-traditional sponsors (e.g.

family office, fundless sponsor) and other origination partners within the direct lending community with responsibilities that include:

– Originate investment opportunities based on strategic fit and financial return

– Develop, maintain and leverage relationships with prospective business owners / targets, investment bankers / business brokers, advisors, developers and other industry participants to support a robust pipeline of potential deal activity

– Develop and manage a direct origination focused senior debt effort across geographic regions of the US that are aligned with Principal’s investment strategies

– Maintaining and institutionalizing a deep understanding of each relationship by monitoring and reporting material fund raising, investment and portfolio activities

– Leading and coordinating with the underwriting staff the screening, underwriting, approval, and closing processes for each financing opportunity

– Evaluate investment opportunities and provide recommendations as to whether time and resources should be allocated based on fit with Principal’s investment criteria and preliminary investment theses

– Supporting the expansion of Principal’s general marketing efforts that include all products and capabilities

– Attend and facilitate sessions at lower middle market focused M&A events, business owner forums and industry conferences / tradeshows

– Supporting the firm’s efforts to attract, develop, and retain best-in-class origination, underwriting and portfolio management talent

Qualifications

We’re looking for someone with:

– Bachelor’s Degree required.

MBA or CFA expected.

– Strong credit capabilities with 15+ years of relevant middle market credit and originations experience, including at least 5 years of direct underwriting and portfolio management experience.

– Strong sales and negotiating skills along with deep relationships with senior members of leading middle market private equity firms that include a history of sourcing a diverse set of attractive financing transactions.

– Comprehensive knowledge of market pricing and terms along with a creative and balanced approach to credit structuring and pricing.

-Experience in managing multi-product transaction teams, leading the execution effort from origination to closing.

– Easily demonstrates excellent verbal and written communication skills along with strong motivation and leadership skills.

– Able to balance a calm, steady, patient approach to business with passion to compete and win new business in a highly competitive environment.

– Accepts and manages conflict and disagreement in a constructive and professional manner.