Associate, Asset Backed Finance

Oaktree Capital Management, L.P.; Los Angeles (CA); On-site; USD 135,000 - 165,000; Full time

Job summary

Oaktree Capital Management, L.P. seeks an ABF Associate to support senior investment professionals in LA and NY, based in LA. You will help source, diligence, and document opportunities across asset-backed finance.

Ideal candidates have 2–5+ years in asset finance, a strong quantitative background, and proficiency in Excel and PowerPoint. Base salary is competitive with discretionary bonus and comprehensive benefits.

Qualifications

• 2-5+ years in asset finance or structuring, buy-side or sell-side experience.
• Strong quantitative background with Excel and PowerPoint proficiency.
• Experience reviewing financial agreements and cash-flow modeling.

Responsibilities

• Support senior ABF investment professionals in LA and NY; based in LA.
• Follow up on introductions and inquiries related to ABF opportunities.
• Collect, evaluate, organize and summarize initial information for ABF opportunities.
• Participate in calls, virtual and in-person meetings with originators, borrowers, sellers and advisors.
• Lead or participate in diligence, terms negotiation, and memoranda for investment committee.
• Familiarize with capital pools and internal policy constraints for ABF investments.
• Present information to clients and co-investors; monitor investments.
• Train and supervise associates and analysts on the ABF team.
• Perform other tasks as required.

Skills

Asset Finance

Securitization

Cash-flow Modeling

Financial Analysis

Private Asset-backed Investments

Rating Process

Education

Bachelor’s degree

Tools

Excel

PowerPoint

Job description

Our Company

Oaktree is a leader among global investment managers specializing in alternative investments, with more than $220 billion in assets under management. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,400 employees and offices in more than 25 cities worldwide.

We are committed to cultivating an environment that is collaborative, curious, inclusive and honors diversity of thought. Providing training and career development opportunities and emphasizing strong support for our local communities through philanthropic initiatives are essential to our culture.

The Oaktree ABF strategy:

Oaktree Asset Backed Finance (“ABF”) is a strategy which invests in pools of contractual assets, such as loans, leases, receivables, mortgages and licensing agreements, which may or may not reference property or other hard assets. Asset categories include corporate / commercial, consumer, real estate, transportation, equipment, infrastructure, energy, intellectual property and other esoteric types.On behalf of ABF funds and clients, Oaktree

• Purchases, or commits to purchase, assets, with or without leverage
• Lends, or commits to lend, secured by assets, in a senior or mezzanine position
• Insures, or provides capital relief against, assets
• Provides essential capital to a business primarily engaged in the origination and servicing of assets

Oaktree has significant experience successfully investing client capital in ABF opportunities as a sub-allocation to various funds and strategies, Oaktree ABF represents Oaktree’s client offering dedicated to ABF. Based on the expanding ABF opportunity set and client demand both in unrated ABF and formally rated investment grade ABF (IG ABF), Oaktree ABF is expected to grow significantly. Oaktree judges the ABF Strategy’s success and value by outcomes delivered to clients, consistent with or exceeding expectations, over the medium and long term.

For additional information please visit our website at www.oaktreecapital.com.

Responsibilities

The ABF Associate will specifically support senior ABF investment professionals in the LA and New York offices, and will need to be based in LA. They will contribute to all phases of the investment process, from sourcing, through decision points, to investment realization.

• Recognizing that Oaktree sources opportunities and leads through a variety of internal and external channels, the ABF Associate will follow up on introductions and inquiries of potential relevance to the ABF strategy.
• Collect, evaluate, organize and summarize initial information which accompanies an ABF opportunity such as teasers, pitch decks, meetings or emails.
• Participate in calls, virtual meetings and in-person meetings with asset originators, borrowers, sellers and their respective advisors, taking careful notes.
• For those opportunities determined to be potentially attractive for Oaktree funds and clients, lead or participate in diligence, negotiation of terms and documentation, building models and preparing investment memoranda for consideration by the ABF investment committee.
• Gain familiarity with Oaktree’s various pools of capital available for ABF investments, including the constraints imposed by fund investment guidelines, capital considerations, regulators and Oaktree’s internal policies and procedures.
• Present information about investments, both actual and considered, to partners such as clients, prospects, financing providers and co-investors. Participate in monitoring, surveillance and valuation of existing investments.
• Train and supervise associates and analysts on the ABF team.
• Perform other tasks as required.
  

Qualifications

• 2-5+ years relevant experience within asset finance or structuring. Either sell-side at an investment bank and / or buy-side investing across securitized collateral types at an investment manager. There may be flexibility to adjust the role and title based on a candidate’s actual experience. Individuals with relevant experience at the upper end of the range may be considered at the Senior Associate level.
• Strong quantitative background. Facility with Excel and PowerPoint, commensurate with years of experience.
• Strong experience reviewing financial agreements for relevant business points and finding answers to specific questions.
• Knowledge of fixed income fundamentals, asset backed finance and securitization, cash-flow modeling, and structuring, commensurate with years of experience.
• Experience in executing private asset-backed investments (without relying on an arranging bank to structure the investment) preferred but not required.
• Experience leading rating process of an asset-backed investment preferred but not required.

Personal Attributes

• Clever, intellectually curious, resourceful, enjoys solving problems, quick study
• Driven, productive, responsible, detail oriented, organized
• Team oriented with high integrity
• Professional and a strong communicator in a variety of formats
• Effective teacher and student

Education

Bachelor’s degree required.

Base Salary Range

$150,000

In addition to a competitive base salary, you will be eligible to receive discretionary bonus incentives, a comprehensive benefits package and a flexible work arrangement. The base salary offered will be commensurate with experience and/or qualifications, industry knowledge and expertise, as well as prior training and education.

Equal Opportunity Employment Policy

Oaktree is committed to diversity and to equal opportunity employment. Oaktree does not make employment decisions on the basis of race, creed, color, ethnicity, national origin, citizenship, religion, sex, sexual orientation, gender identity, gender expression, age, past or present physical or mental disability, HIV status, medical condition as defined by state law (genetic characteristics or cancer), pregnancy, childbirth and related medical conditions, veteran status, military service, marital status, familial status, genetic information, domestic violence victim status or any other classification protected by applicable federal, state and local laws and ordinances. This policy applies to hiring, placement, internal promotions, training, opportunities for advancement, recruitment advertising, transfers, demotions, layoffs, terminations, recruitment advertising, rates of pay and other forms of compensation and all other terms, conditions and privileges of employment. This policy applies to all Oaktree applicants, employees, clients, and contractors. Staff members wishing to report violations or suspected violations of this policy should contact the head of their department or Human Resources.

For positions based in Los Angeles

For those applying for a position in the city of Los Angeles, the firm will consider for employment qualified applicants with a criminal history in a manner consistent with applicable federal, state and local law.