Associate Vice President, Direct Lending Fund Management

Company: Avature
Location: New York
Posted on: May 28, 2023

Job Description:

Location: New York/OVA Line of Business: Finance Job Function: Investor Services Date: Tuesday, May 9, 2023 Position Summary Oversees the finance, accounting and operations of cross platform commingled funds and separately managed accounts. Manages and supports broad range of efforts including investor and firm reporting, deal execution and tax structuring, new product launches, systems implementation and firm initiatives. Responsibilities Fund management/Operations:

• Ensure fund is in compliance with Limited Partnership Agreement
• Review capital call, distribution notices
• Manage cash needs, including the fund line of credit facility
• Review fund performance metrics Fund Accounting and Financial Reporting:
  • Quarterly reporting: Review Financial statements, capital account statements prepared by third party administrator
  • Coordinate preparation of quarterly investor updates
  • Review carried interest and management fee calculations
  • Oversee fund administrator relationships (both externally and internally via local teams like Luxembourg), drive fund admin operating model and internal processes/policies and build out process to monitor performance through KPIs Fundraising, Investor Relations and New Product Support:
    • Support fundraising process, include review of term sheets, PPM, flipbooks, due diligence questionnaires, side letter negotiations and LPA review
    • Ensure all ongoing LP requests are addressed
    • Assist with analysis of new business initiatives, assessing profitability, scalability and practicality of new product to assist management's business review and plan Deal Execution/Fund and Investment Structures:
      • Work with lawyers and tax to set up legal structure of investments
      • Work with deal team to execute the acquisition of investments by planning funding of purchase and coordinating legal counsel to ensure closing of deals
      • Assist in incorporating the legal entities for the deal structure
      • Monitor structures on an ongoing basis to ensure fit for purpose
      • Oversee portfolio and stay abreast of status of all positions within the cross-platform accounts, partnering with the deal team and other portfolio management members to ensure valuations are appropriately updated
      • Assist in review, negotiation and closing of Credit Facility and Hedging (ISDAs) agreements
      • Assist in ensuring optimal allocation of assets to maximize credit facility availability
      • Monitor and forecast cash and liquidity needs for cross platform accounts, including ensuring sufficient liquidity for deal funding, investor transactions (dividends, redemptions), and expenses.
      • Calculate any necessary hedging required for foreign currency positions in cross platform accounts and partner with middle office to ensure hedging executed on (forwards plus foreign borrowings)
      • Assist in creating and updating funds specific finance models
      • Assist in forecast of NII for dividend requirements
      • ENI - assist in corporate budget planning process and strategy for Funds
      • Data Governance/Technology/Firm Initiatives/Scaling Operating Model:
      • Assist in driving strategy within vertical on data and technology initiatives with respect to investment, fund and investor data to drive consistent reporting across products Qualifications Education & Certificates
        • Bachelors Degree in Accounting and/or Finance required Professional Experience
          • 8+ years' experience either in private credit or equity or public accounting with supervisory experience
          • Experience in alternatives, familiar with fund accounting/GP/LP structures and/or SMAs
          • Credit background a plus
          • Legal and tax exposure a plus
          • Strong organizational skills and detail oriented
          • Excellent communication skills - both written and oral and strong interpersonal skills
          • Ability to plan, coordinate various parties and execute an action plan
          • Pro-active attitude and ability to work autonomously in fast-paced environment
          • Demonstrated ability to work effectively as part of a team/strong leadership qualities
          • High level of comfort with decision making Due to the high volume of candidates, please be advised that only candidates selected to interview will be contacted by The Carlyle Group. The compensation range for this role is specific to New York City and takes into account a wide range of factors including but not limited to the skill sets required/preferred; prior experience and training; licenses and/or certifications. The anticipated base salary range for this role is $150,000 to $190,000. In addition to the base salary, the hired professional will enjoy a comprehensive benefits package spanning retirement benefits, health insurance, life insurance and disability, paid time off, paid holidays, family planning benefits and various wellness programs. Additionally, the hired professional may also be eligible to participate in an annual discretionary incentive program, the award of which will be dependent on various factors, including, without limitation, individual and organizational performance. Company InformationThe Carlyle Group (NASDAQ: CG) is a global investment firm with $373 billion of assets under management and more than half of the AUM managed by women, across 543 investment vehicles as of December 31st, 2022. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 2,100 professionals operating in 29 offices in North America, South America, Europe, the Middle East, Asia and Australia. Carlyle places an emphasis on development, retention and inclusion as supported by our internal processes and seven Employee Resource Groups (ERGs). Carlyle's purpose is to invest wisely and create value on behalf of its investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments - Global Private Equity, Global Credit and Investment Solutions - and has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.At Carlyle, we know that diverse teams perform better, so we seek to create a community where we continually exchange insights, embrace different perspectives and leverage diversity as a competitive advantage. That is why we are committed to growing and cultivating teams that include people with a variety of perspectives, people who provide unique lenses through which to view potential deals, support and run our business.

Keywords: Avature, New York , Associate Vice President, Direct Lending Fund Management, Executive , New York, New York