LCS Credit, Sr. Associate, Dublin

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X, and Instagram.
 

Blackstone Credit:

Blackstone Credit is one of the world’s largest credit-focused asset managers, with $257 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments. 

The Liquid Credit Strategies group (LCS) manages diversified portfolios of credits, primarily consisting of senior secured floating rate bank loans of non-investment grade leveraged companies. LCS also invests opportunistically across the capital structure in instruments including mezzanine debt, high yield bonds, distressed securities, convertible bonds, preferred stock and other credit-related instruments. The group manages and sub-advises over 75 funds accounts in US and Europe, including Collateralized Loan Obligations, Separately Managed Accounts, Commingled Funds, Closed End Funds and  Business Development Companies.  LCS also invests in the debt and equity tranches of CLOs managed by selected third parties.

Job Description:       

The LCS Credit Analyst is an integral part of the credit research team responsible for identifying, analyzing and monitoring credits across all of LCS portfolios.  The Credit Analyst will conduct fundamental credit and legal analysis to (a) proactively manage a designated portfolio of credits and, (b) consider new opportunities for presentation to Investment Committee.  The job also requires the Credit Analyst to assist the senior credit analysts from time to time and also assist in the completion of internal reports.

 You will be required to conduct the credit analysis of potential leverage opportunities, review due diligence, prepare a credit application & financial model for investment committee, make recommendations to senior management, review (and negotiate) legal documentation. You will be responsible for the on-going monitoring of a portfolio of credits with particular emphasis on identifying early risk situations and taking the appropriate action.

The Credit Analyst will develop both quantitative and qualitative skills through the investment process and will have the opportunity to gain exposure to a wide range of industries and investment types. As a result of the breadth of the experience, the Credit Analyst will develop a unique understanding of companies and capital structures.

Responsibilities:

• Diligently monitor a portfolio of credits including recent news, monthly/ quarterly/ annual financial statements, ratings changes, Amendments and Waivers.  Attendance at bank meetings.  Effectively communicate refreshed credit view and recommendations.
• Also proactively manage the portfolio of credits to support relative value based trade ideas (maintain a current view on the industry, key macro themes, sector risks and opportunities, industry leaders and laggards, etc.)
• Review and negotiate loan documentation with arrangers and sponsors
• Evaluate new investments in the Primary and Secondary Markets by (a) performing thorough analysis of the due diligence information on the Borrower’s business, industry drivers, inherent credit risks, asset valuation and (b) developing a financial model to assess the Borrower’s ability to service debt, as well as evaluate recovery prospects.
• Formulate a clear and concise credit view and persuasively communicate recommendations to the Investment Committee  both verbally and in writing.
• Actively seek to support other team members when they ha