Investment Associate - Distressed Debt / Special Situations

An established alternative investment firm is seeking an Associate to join its investment team, focusing on opportunistic credit and special situations investing. This role offers the opportunity to evaluate and execute complex, non-traditional investment opportunities across the credit spectrum, working closely with senior investment professionals throughout the investment lifecycle.

The ideal candidate combines strong analytical and financial modeling skills with sound investment judgment, intellectual curiosity, and the ability to evaluate complex situations across a variety of industries, capital structures, and market environments.

Qualifications

• Experience: 2-5 years of relevant experience in investment banking, distressed debt, restructuring, leveraged finance, special situations, or a related investing role.
• Financial Modeling: Advanced financial modeling and analytical skills, including proficiency in Excel and the ability to evaluate complex financial situations.
• Credit Expertise: Strong understanding of credit analysis, capital structures, debt instruments, valuation methodologies, and risk-adjusted returns.
• Investment Judgment: Ability to assess asymmetric investment opportunities, evaluate downside risk, and develop differentiated investment theses.
• Communication: Excellent written and verbal communication skills, with the ability to present complex financial analysis clearly and concisely.
• Attention to Detail: Strong organizational skills and a high degree of accuracy when working under tight deadlines across multiple priorities.
• Intellectual Curiosity: A proactive, resourceful mindset and a genuine interest in complex, non-consensus investment opportunities.
• Team Orientation: Ability to work collaboratively in a lean, entrepreneurial investment environment while taking ownership of individual workstreams.
• Education: Bachelor’s degree in Finance, Economics, Accounting, or a related discipline; a strong academic record is preferred.

Key Responsibilities

• Investment Sourcing & Evaluation: Identify, screen, and evaluate opportunistic credit and special situations investment opportunities across public and private markets.
• Financial Analysis & Modeling: Build and maintain detailed financial models, including integrated financial statements, cash flow projections, debt capacity analyses, recovery analyses, and downside scenarios.
• Due Diligence: Conduct comprehensive financial, operational, industry, and capital structure diligence to assess investment merits, risks, and potential catalysts.
• Investment Execution: Support the execution of new investments, including transaction structuring, valuation, underwriting, financing analysis, and coordination with external advisors and counterparties.
• Credit & Capital Structure Analysis: Analyze complex debt structures, creditor priorities, collateral packages, covenant protections, restructuring scenarios, and potential recovery outcomes.
• Investment Research: Monitor portfolio companies, industry trends, credit markets, and distressed or event-driven situations to identify emerging opportunities and risks.
• Investment Committee Materials: Prepare investment memoranda, presentations, and supporting analyses to communicate investment theses, key risks, return potential, and downside protection.
• Portfolio Monitoring: Track investment performance, liquidity, credit developments, and key operating metrics while supporting ongoing portfolio management initiatives.
• Collaboration: Work closely with senior investment professionals and other stakeholders throughout sourcing, diligence, execution, and portfolio management.