Associate – Real Estate Debt, Portfolio Management

Circle Square; Greater London; On-site; GBP 85,000 - 125,000; Full time

Job summary

Circle Square is seeking an Associate for its portfolio management function across Europe, focusing on debt and value-add strategies. You will drive fund performance analysis, investment modelling and investor communications to support across the investment lifecycle.

The role provides broad exposure to front-to-back portfolio activities, with interaction with fund managers, investors and internal stakeholders. A strong modelling background and interest in AI tools are highly valued.

Qualifications

• 3+ years in private equity, banking or commercial real estate.
• Ability to analyze and model complex deals and financial structures.
• Strong Excel modelling; VBA or Python a plus.
• Comfort with complex capital structures and financial statement analysis.
• Interest in applying AI and LLM-based tools to work smarter.
• Real estate investment knowledge; debt experience is a plus.
• Self-starter, strong communicator in a lean team.
• European languages welcome but not essential.

Responsibilities

• Analyse and forecast fund and mandate-level performance across completed deals.
• Deal and portfolio-level analysis — building performance scenarios, assessing risk allocation and diversification.
• Preparing investor communications end to end (quarterly reports, MDD/ODD, ESG reporting) and coordinating investor calls and conferences.
• Working directly with fund managers, investors, borrowers and internal stakeholders.
• Contributing to platform-level strategic initiatives — warehouse financing vehicles, bond wrappers and wider fund matters.
• Building asset models and supporting Investment Committee memos on loan restructures and workouts.
• Partnering with the fund manager and IR team on fund strategy and fundraising.

Skills

Private equity experience

Deal modelling

Excel modelling

Python

VBA

Financial statement analysis

Real estate knowledge

Capital structures

AI tools interest

Self-starter

Strong communicator

Job description

Our client is a leading European real estate investment manager they are now hiring an Associate into the portfolio management function of its debt and value-add strategies platform.

The platform invests fund capital across real estate debt and value-add equity throughout Europe and is one of the more established alternative lenders in the market, with a multi-billion euro track record across whole loans, senior and mezzanine strategies. The business continues to launch new vehicles and strategies alongside its existing funds.

The team:

You'd join a small, high-visibility portfolio and loan asset management team that sits across every investment on the platform. It's a broad seat — genuinely front-to-back exposure to fund performance, investor relations and strategic projects, rather than a narrow reporting role.

The role:

• Analysing and forecasting fund and mandate-level performance across completed deals
• Deal and portfolio-level analysis — building performance scenarios, assessing risk allocation and diversification
• Preparing investor communications end to end (quarterly reports, MDD/ODD, ESG reporting) and coordinating investor calls and conferences
• Working directly with fund managers, investors, borrowers and internal stakeholders
• Contributing to platform-level strategic initiatives — warehouse financing vehicles, bond wrappers and wider fund matters
• Building asset models and supporting Investment Committee memos on loan restructures and workouts
• Partnering with the fund manager and IR team on fund strategy and fundraising

Candidate requirements:

• 3+ years in private equity, banking or commercial real estate
• Proven ability to analyse and model complex deals and financial structures
• Strong Excel modelling; VBA or Python a real plus
• Comfort with complex capital structures and financial statement analysis
• A genuine interest in technology — they want someone actively applying AI and LLM-based tools to work smarter
• Real estate investment knowledge, with debt experience an advantage
• European languages welcome but not essential
• Self-starter, strong communicator, and someone who'll thrive in a lean team