Associate, European Credit

Make an impact at a global and dynamic investment organization. When you join CPP Investments, you are joining one of the world’s most admired and respected institutional investors. As a professional investment management organization, CPP Investments invests the funds of the Canada Pension Plan (CPP) to help ensure its financial sustainability for generations of working and retired Canadians. CPP Investments invests across regions and asset classes to build a globally diversified portfolio. It holds assets in public equity, private equity, real estate, infrastructure, and fixed income, and the CPP Fund is projected to reach $3.6 trillion in assets by 2050.

CPP Investments successfully attracts, selects, and retains talented individuals from top-tier institutions worldwide. Join our team for access to:

• Stimulating work in a fast-paced and intellectually challenging environment
• Accelerated exposure and responsibility
• Global career development opportunities
• Diverse and inspiring colleagues and approachable leaders
• A hybrid-flexible work environment with an emphasis on in-person collaboration
• A culture rooted in principles of integrity, partnership, and high performance
• An organization with an important social purpose that positively impacts lives

If you have a passion for performance, value a collegial and collaborative culture, and approach work with the highest integrity, invest your career here.

As an Associate, you will be responsible for conducting fundamental investment research, assisting in building recommendations, implementing fundamental investments strategies, and monitoring and managing portfolio investments. You may also support the identification, scoping, and implementation of value creation opportunities by conducting research, analysis, and preparing presentations.

We are currently hiring an Associate for the European Credit team in London, part of our global Credit Investments department. Credit Investments currently manages assets in excess of C$80 billion with investments ranging from $75 million to over $1 billion. The Credit Investments team has around 150 investment professionals across North America, Europe and Asia. The European Credit team invests in sub-investment grade corporate and structured debt in Europe, with investments spanning across the capital structure, including private credit (unitranche, Holdco financing), liquid credit (term loans, high-yield bonds) and other solutions.

Responsibilities:

• Analyze potential investment opportunities across private credit and liquid credit (direct lending, term loans, high yield bonds, junior debt, mezzanine financing among others)
• Actively participate in the investment process from initial opportunity overview to execution and monitoring
• Compile industry, market and asset level data and financial information to support research
• Develop company financial models and perform valuation analyses; apply statistical analysis to support investment decisions
• Prepare analytical investment reviews and recommendations in collaboration with the team, including industry overviews, written investment rationales and due diligence reviews
• Participate in presentation of investment recommendations to the Investment Committee
• Review and assist in the negotiation of legal documents
• Develop and leverage relationships with financial sponsors and management teams as part of monitoring portfolio companies
• Perform due diligence on opportunities, including financial, company and sector diligence, to determine investment merits and risks
• Participate in evaluation, including sharing views on overall investment attractiveness based on findings from diligence work
• Assist in the development, implementation and monitoring of existing portfolios including exit plan

Qualifications:

• Commensurate years of related work experience (e.g. investment banking, leverage finance, private debt, credit analyst, etc.)
• Undergraduate degree or college diploma in relevant field
• An advanced degree or certification (CFA) is an asset
• Strong research, analytical, financial modeling, valuation, problem solving skills and ability to think creatively
• Knowledge of fixed income and credit instruments. Exposure to sub-investment grade corporate and structured debt through a variety of instruments
• Experience of event driven opportunities such as acquisitions, refinancings, recapitalisations, restructurings and stressed situations would be advantageous
• Advanced computer/technical skills – MS Excel, MS PowerPoint
• Excellent communication, interpersonal and relationship-building skills
• Team player who contributes to a high-performance culture
• Ability to adapt to different investment asset classes, jurisdictions, and risk levels
• Ability to work and learn quickly in a high performing culture, under pressure and with time-sensitive deadlines
• Self-motivated, flexible and adaptable
• Consistent demonstration of our guiding principles of integrity, partnership and high performance

At CPP Investments, we are committed to diversity and equitable access to employment opportunities based on ability. If you require an accommodation for any part of the recruitment process (including alternate formats of materials, accessible meeting rooms, etc.), please let us know and we will work with you to meet your needs.