Real Estate Debt - Asset Manager

Company Description

Legal & General is one of Europe’s largest asset managers, providing clients and partners with complex, responsible investment solutions, across public and private markets. As a global investor, we are present where our clients most need us – from Hong Kong and Singapore, to Chicago and major European financial hubs.

Created by combining our investment management (LGIM) and asset origination (LGC) capabilities, our Asset Management division works with our Institutional Retirement and Retail divisions to benefit our clients and customers – which include individual savers, pension scheme members and global institutions – and deliver enhanced shareholder returns.

Joining us means becoming part of a market-leading team, with capabilities across the full spectrum of asset classes, with an enduring commitment to responsible investment and creating long-term, sustainable value for our clients and partners.

Job Description

We’re recruiting for an Asset Manager to support the ongoing management of Private Credit investments for funds managed by L&G’s Asset Management Division and, where appropriate, provide assistance and advice in the due diligence and execution of new transactions.

Primary responsibilities will include managing and monitoring the ongoing performance of investments across the Private Credit business with a focus on Real Estate Debt.

The Private Credit business within Private Markets currently manages over £20bn AUM across infrastructure, real estate, corporate and alternative debt products on behalf of a number of institutional investors and managed funds.

What you’ll be doing:

1. Ensuring that investment assets are appropriately monitored and managed in line with objectives and value is preserved or enhanced for our clients, ensuring deterioration in performance is highlighted at the earliest possible stage in order that more intense monitoring and/or remedial actions can be undertaken as appropriate.
2. Ensuring individual transactions are appropriately monitored through analysis of financial performance and covenant compliance. This will include review and scrutiny of borrower financial statements, compliance certificates, budgets and/or financial models, as well as engagement with management.
3. Regular meetings with borrowers which may include site visits on assets, to discuss operational and financial performance as well as raise issues on topics such as ESG.
4. Ensuring any deterioration in asset performance is identified promptly and combined with proactive borrower engagement to discuss whether remedial action can be undertaken or is necessary.
5. Producing and presenting regular updates on the portfolio including quarterly reviews, focus lists, and waivers.
6. Coordinating interaction with the internal Rating team and/or the Portfolio Management team in respect of the existing portfolio and assisting in the production of any related deliverables.
7. Taking ownership of workstreams in relation to amendments and waivers and production of documents and investment committee papers where applicable, and according to the relevant procedures.
8. Where necessary, working with and supporting senior colleagues in the negotiation and management of stressed and distressed situations with a view to preserving value or maximizing recovery for clients.

Qualifications

Who we’re looking for:

1. Strong working knowledge of debt capital markets and products with a particular focus on the real estate sector.
2. Good technical skills across Excel, PowerPoint, and Word applications. Ability to use BBG helpful but not essential.
3. Flexible and responsive with a keen attention to detail.
4. Strong financial analysis skills required – with an understanding of credit risk, and the ability to analyze/sensitize financial models.
5. Organized, focused and self-motivated with strong communication (written and oral) skills. The ability to manage and prioritize competing workstreams and stakeholders is essential.
6. A solid working knowledge of the relevant legal documentation types appropriate for the sectors is required.
7. Collegiate approach and a strong team player.

Whatever your role, we reward performance and behavior with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

1. The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes.
2. Generous pension contribution.
3. Life assurance.
4. Private medical insurance (permanent employees only).
5. At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday.
6. Competitive family leave.
7. Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice.
8. There are many discounts we offer – both for our own products and at a range of high street stores and online.
9. In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart.

Additional Information

Legal & General is a leading financial services group and major global investor, named Britain’s Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.

We aim to build a better society for the long term by investing our customers’ money in things that make life better for everyone.

If you join us, you’ll be part of a welcoming culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We strive to be open, mindful and inclusive, so are always willing to discuss flexible working arrangements and reasonable accommodations for candidates with specific needs.

If you’re open to find out more, we’d love to hear from you.

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