Partner (Private Credit) - Anonymous : Job Details

Position Title: Partner – Private Credit Fund (SBIC)

Location: Flexible (Preference for candidates on the East Coast: Philadelphia, DC, or NYC)

Type: Full-Time, Leadership Role

Start Date: ~12 months (contingent on the SBIC license approval process). To be discussed in-person.

About the Opportunity:

A new private credit fund is in the process of being launched, focused on providing a range of debt and equity solutions for lower middle-market companies. This independent fund will operate as an SBIC (Small Business Investment Company) and focus on a diversified investment strategy across various industries to support growth, acquisitions, and recapitalizations.

The fund is backed by a strong anchor investor and seeks an entrepreneurial leader to help establish and grow the platform. This is a rare opportunity to be part of the founding team and define the fund's investment philosophy, build its operational framework, and drive its success in the private credit space.

Position Summary:

Alongside two other founding partners, the Partner will play a foundational role in establishing this new fund, overseeing its SBIC application process, and helping to shape and lead its investment strategy. The Partner will collaborate with the other partners to launch the fund, define its approach to private credit investing, build a team, and manage all aspects of fund operations. This role is designed for a leader with significant experience across the private credit spectrum, encompassing both senior and junior debt.

The position offers substantial incentives, including a significant share of the fund's economics.

Key Responsibilities:

SBIC Fund Launch and Application:

• Actively guide the SBIC application process, working with regulators and advisors to secure the fund's SBIC license.
• Contribute to fund-building efforts, from shaping strategy to establishing operational processes, ensuring the fund's successful launch and development.

Investment Strategy and Execution:

• Define and execute the fund's investment strategy across a broad range of private credit solutions, including senior and junior debt.
• Focus on originating high-quality deals within the lower middle market across diverse sectors, managing the entire investment process from sourcing to execution.

Deal Origination and Structuring:

• Leverage an extensive network across private equity, banking, and related sectors to drive deal origination.
• Structure and negotiate debt and equity investments, ensuring thorough due diligence and alignment with fund objectives.

Portfolio Management and Value Creation:

• Actively monitor and manage portfolio performance, collaborating with management teams to maximize value.
• Oversee risk management, portfolio diversification, and adherence to SBIC guidelines.

Fundraising and Investor Relations:

• Engage in fundraising activities, working with the founding team to secure ~30% of the fund's target unlevered capital (~$10m).
• Build and maintain strong relationships with banks, financial institutions, family offices, and other LPs.
• Represent the fund and communicate regularly with investors, providing updates on performance, strategy, and the SBIC process.

Qualifications:

Required Experience:

• Minimum of 12+ years in private credit, senior or mezzanine financing, or related fields, with a strong focus on deal origination and a successful track record in structuring debt and equity investments.
• Extensive Investment Committee experience (a MUST HAVE) in a credit strategy, ideally 5 years or more , or comparable experience leading deals end-to-end. Exceptional candidates with fewer than 5 years of Investment Committee experience will be considered if they have led at least 10 transactions, including 5 successful exits.
• Prior experience with an SBIC fund or regulatory process is highly advantageous.
• Demonstrated ability to launch, grow, or operate in a fund-building environment is preferred.

Skills:

• Deep knowledge of the private credit space, with a demonstrated ability to originate, underwrite, and execute a range of debt and equity solutions.
• Strong relationship-building skills and an extensive network for originating deals and managing bank relations.

Education:

• Bachelor's degree in Finance, Business, or a related field; MBA or CFA designation preferred.

Ideal Candidate:

We are seeking a seasoned professional currently serving as a Partner or senior team member at a private credit fund who handles the full spectrum of fund-management duties, including originations, underwriting, portfolio management, and fundraising. The ideal candidate will have a strong entrepreneurial drive and a long-standing ambition to launch and manage a new fund.

Compensation:

The Partner will receive a significant share of the fund's equity/carry (target fund size is $100m), with the size of the carry contingent upon the Partner's level of experience, drive, and active contribution to establishing and growing the fund.

All applications will be treated with strict confidentiality.