Principal, Strategic Credit

Principal, Strategic Credit

Fixed Income Portfolio Management Team
Full-Time

Boston, MA

The Opportunity

MassMutual is seeking a highly motivated, solution-oriented investment professional to join MassMutual Investment Management’s Fixed Income Portfolio Management team. In this role, you will support research, underwriting, structuring, execution, and ongoing monitoring of credit investments for MassMutual’s $250 billion General Investment Account (GIA) and, ultimately, its policyholders. You will work across multiple asset classes, including investment grade and high yield public and private corporate credit, fund finance, credit-oriented alternatives, and other structured credit investments accessed through separately managed accounts, commingled vehicles, and bespoke private investment vehicles. You will also play a lead role in maintaining relationships with key investment counterparties and negotiating partnership arrangements that drive positive economic and strategic outcomes for MassMutual’s policyholders. The role reports to the Head of Strategic Credit.

The Team

The Fixed Income Portfolio Management (FIPM) team is responsible for asset allocation, fundamental credit underwriting and monitoring, ESG investment strategy, and macroeconomic research. FIPM is a small, highly collaborative team that works with partners across Investment Management to manage the product segment portfolios within the GIA. The team combines fundamental investment analysis and asset allocation skills with quantitative and asset/liability management expertise. This high-profile group works across Investment Management and with internal stakeholders in product, actuarial, treasury, accounting, risk, legal, compliance, and other areas.

The Impact

As a Principal, Strategic Credit, key responsibilities include but are not limited to:

• Execute fundamental credit and strategic analysis and assess relative value across credit asset classes, generating timely, actionable insights that inform GIA portfolio decisions and align with MassMutual’s long-term, patient investment philosophy which aims to maximize risk-adjusted returns.
• Conduct in-depth macro, asset class, and sector-level research to evaluate new investment opportunities, inform views on current GIA holdings, and support real-time investment decisions.
• Prepare and present high-quality investment recommendations, memos, and presentations on strategic topics to Investment Committees, senior leadership, and other key stakeholders.
• Lead cross-functional execution on transactions by partnering with external counterparties and internal teams, including operations, legal, accounting, and risk, to advance deals and resolve complex structural or legal issues.
• Maintain and develop relationships with affiliate and third-party asset managers, oversee existing portfolio holdings, assess ongoing performance, and provide actionable recommendations to Portfolio Managers and senior leadership.
• Contribute to MassMutual Investment Management’s collaborative investment process by sharing views and analysis with Portfolio Managers, Analysts, and Investment Management leaders.

The Minimum Qualifications

• Bachelor’s degree
• 5+ years of relevant experience in credit underwriting, investment banking, corporate development, asset management, or a related investment role.
• 5+ years of experience in financial modeling, enterprise valuation, and fundamental credit analysis.

The Ideal Qualifications

• Advanced degree, such as an MBA, or CFA designation.
• Experience structuring, underwriting, and executing private credit transactions, such as leveraged loans, CLOs, CFOs, ABS, convertible notes, or similar investments.
• Experience reviewing complex transaction documents, including LPAs, indentures, and subscription agreements, in partnership with transaction counsel.
• Ability to lead diligence on private transactions and serve as a trusted point of contact for external managers, counterparties, counsel, and internal partners.
• Exceptional written and verbal communication skills, with experience presenting clear, well-supported investment recommendations to Investment Committees, senior leaders, or client audiences.
• Ability to assess individual investment opportunities while clearly articulating portfolio-level considerations, risks, and tradeoffs.
• Comfort working across multiple asset classes and investment strategies, with a flexible, open-minded approach to evaluating ideas and perspectives.
• Strong Excel modeling skills and proficiency with Microsoft Office, with the ability to analyze complex datasets and translate findings into actionable insights.
• High standards of integrity, intellectual curi