Associate – SBIC Fund-of-Funds

Independent Sponsor Forum; Patriot (OH); Sur place; USD 120 000 - 180 000; Plein temps

Résumé du poste

Patriot Financial Partners in Radnor, Pennsylvania, is expanding its SBIC Fund-of-Funds team and seeks an Associate with a strong foundation in fund underwriting and manager due diligence to cover SBIC investments across private credit, private equity, and hybrid strategies.

You will participate in manager meetings, perform look-through analyses, and support transaction execution and portfolio monitoring. A 3+ year track record in related investing and solid financial modeling are required.

Qualifications

• 3+ years of relevant investment experience with a focus on fund investments and due diligence.
• Experience in fund investing, manager research, institutional investment management, private credit or private equity.
• Strong financial and investment analysis skills and proficiency in financial modeling.

Responsabilités

• Underwrite prospective SBIC fund investments across private credit, private equity, and hybrid debt/equity strategies.
• Evaluate managers on strategy, team, sourcing, underwriting, and portfolio construction.
• Prepare underwriting recommendations and present conclusions to Investment Committee.

Connaissances

Fund underwriting

Manager due diligence

Financial analysis

Excel

Communication

Attention to detail

Formation

Bachelor’s degree in finance or related field

Outils

Microsoft Excel

PowerPoint

Word

Description du poste

About Patriot Financial Partners

Founded in 2007, Patriot Financial Partners is an investment firm based in Radnor, Pennsylvania with a long history of investing in community banks, thrifts and financial services related companies throughout the United States. Patriot is currently building out its investment team for a new strategy focused exclusively on the Small Business Investment Company ("SBIC") market.

About Patriot Financial Partners

Founded in 2007, Patriot Financial Partners is an investment firm based in Radnor, Pennsylvania with a long history of investing in community banks, thrifts and financial services related companies throughout the United States. Patriot is currently building out its investment team for a new strategy focused exclusively on the Small Business Investment Company ("SBIC") market. The strategy will invest across primary fund commitments, secondary interests, and direct co-investments through a fund dedicated to the SBIC market, combining fund underwriting and manager selection with analysis of underlying portfolio companies. Patriot is seeking an Associate to join the SBIC Fund-of-Funds investment team. The ideal candidate will have a strong foundation in fund underwriting and manager due diligence, with private credit underwriting experience also highly valued.

Key Responsibilities

• Underwrite prospective SBIC fund investments across private credit, private equity, and hybrid debt/equity strategies.
• Evaluate managers across strategy, team, sourcing, underwriting, portfolio construction, operations, compliance, economics, and alignment.
• Analyze fund- and investment-level track records, including performance drivers, realized and unrealized outcomes, losses, and relevant benchmarks.
• Perform look-through analysis of underlying portfolio companies, including leverage, credit quality, capital structure, valuation, industry exposure, and concentration.
• Review fund terms, including fees, carried interest, preferred returns, GP commitments, expenses, and SBIC leverage.
• Develop models and analyses for primary investments, secondary transactions, co-investments, and portfolio construction.
• Evaluate secondary opportunities, including portfolio quality, valuation, cash flows, return scenarios, and downside sensitivities.
• Underwrite direct co-investments alongside SBIC managers, including financial, credit, valuation, and transaction analysis.
• Participate in manager meetings, reference calls, and other diligence discussions.
• Prepare written underwriting recommendations and present conclusions, risks, and open items to Patriot’s Investment Committee.
• Support transaction execution and coordinate legal, tax, compliance, finance, and operational workstreams.
• Monitor existing investments through manager reporting, fund financials, capital activity, and underlying portfolio performance.
• Conduct research on the SBIC market, private markets, lower middle market trends, and relevant regulatory developments.

Qualifications

• 3+ years of relevant investment experience, with a strong preference for experience underwriting private fund investments and conducting manager due diligence.
• Experience in fund investing, manager research, institutional investment management, private credit, private equity, investment banking, or a related field.
• Strong financial and investment analysis skills, including fund and deal-level performance analysis.
• Solid understanding of financial statements, capital structures, credit analysis, valuation, investment returns, and financial modeling.
• Ability to assess both manager quality and underlying portfolio risk.
• Advanced proficiency in Microsoft Excel, Word, and PowerPoint.
• Strong written and verbal communication skills.
• Excellent attention to detail, organization, and judgment.
• Bachelor’s degree required, preferably in finance, accounting, economics, business, or a related field.

Preferred Experience

• Experience evaluating SBIC funds or other private market fund investments.
• Experience analyzing fund track records and performance attribution.
• Experience underwriting lower middle market private credit investments.
• Experience evaluating LP secondaries or direct co-investments.
• Familiarity with SBA regulations and SBIC leverage.
• Comfort using modern artificial intelligence tools, including generative AI and large language models ("LLMs"), to support research, diligence, analysis, and workflow efficiency while applying appropriate validation, confidentiality, and investment judgment.

Work Location

This is an in-person position based in Patriot Financial Partners’ Radnor, Pennsylvania office.

Patriot Financial Partners is an Equal Opportunity Employer.