Private Asset-Based Lending Analyst – Specialty Finance

Overview

Marathon Asset Management is a recognized leader in asset-based lending (ABL), with a 20+ year track record of robust asset management and a reputation for excellence across cycles and market environments. Our ABL platform is supported by 50+ professionals and has deployed over $30 billion across a $5 trillion addressable market, including transportation, healthcare, commercial and residential real estate, consumer credit, and specialty finance. We are known for our disciplined, opportunistic approach where relationship durability and selectivity drive superior risk-adjusted returns.

 

Position Overview:

 

We are seeking an intellectually curious and technically strong analyst to join our investment team with a focus on private asset-backed investments. The role involves analyzing, underwriting and monitoring structured finance transactions across non-mortgage consumer finance products (e.g. auto loans, installment loans) as well as commercial finance products such as small business lending, litigation finance, equipment leasing, receivables finance, royalties, and other specialty finance sectors.

This is a high-impact, buy-side role offering broad exposure to complex private deals and direct interaction with issuers, originators, and internal decision-makers. The successful candidate will demonstrate both deep analytical ability and the flexibility to navigate a broad spectrum of heterogeneous opportunity sets.

Responsibilities

• Evaluate new opportunities in private structured credit investments across a range of specialty finance sectors and a variety of structures, including asset purchases, forward flow arrangements, senior and mezzanine finance facilities and joint ventures

• Perform in-depth underwriting on asset pools and originators, including analysis of collateral performance data, borrower characteristics, and servicing dynamics
• Build customized Excel cash flow models and scenario analyses to assess deal structure, loss coverage, prepayment behavior, and return profiles
• Support due diligence efforts, including management calls, data tape reviews, and third-party vendor coordination (e.g., legal, audit, tech)
• Draft investment memos and present findings and recommendations to senior investment professionals and internal committees
• Monitor and report on investments post-closing, including performance surveillance, amendment negotiations, and valuation updates
• Collaborate with deal teams and portfolio managers to shape investment theses, negotiate structural protections, and maximize risk-adjusted returns

Qualifications

• Bachelor’s degree, preferably in finance, economics, engineering, math, or another quantitative field
• 2-4 years of experience in structured finance, private credit, specialty finance, or securitization, ideally either in an investment banking capacity or in a buy-side or principal investing capacity
• Exposure to private asset-based lending or specialty finance sectors (e.g. aviation, auto loans, consumer loans, equipment finance, small business loans, tax or trade receivables, royalties, etc.) is a plus
• Strong knowledge of structured finance principles, credit risk, and securitization mechanics, preferably including private transactions
• Solid modeling skills in Excel; ability to build and manipulate complex cash flow models
• Comfort with learning and assimilating new concepts and information quickly, identifying questions, and structuring around idiosyncratic risks
• Familiarity with legal and structural components of private ABS (e.g., collateral eligibility, triggers, covenants, waterfall protections) and relevant legal and regulatory frameworks (e.g. SPV structures, off-balance sheet treatment, risk retention)
• Highly-motivated self-starter with very strong attention to detail and organizational skills
• Excellent communication and presentation skills, with ability to synthesize complex deal dynamics into concise, actionable insights

What We Offer:

• A high-autonomy role with direct exposure to complex private transactions and senior investment professionals
• The opportunity to work in a lean, entrepreneurial team with significant influence over capital deployment decisions
• Access to differentiated opportunities across structured finance markets, including niche and undercapitalized sectors
• Competitive compensation with meaningful upside based on performance

 

The salary range for this role is $125,000-$150,000 in base pay (exclusive of bonus or benefits above and beyond the base pay). Base pay offered will be determined based on your experience, location, skills, training, certifications, and education, and in addition we will also consider internal equity and market data.  We do not