Direct Lending Senior Associate

Selby Jennings; Chicago (IL); On-site; USD 110,000 - 160,000; Full time

Job summary

Selby Jennings partners with a global asset management firm to scale its Private Credit team in Chicago, focusing on middle-market sponsor-backed direct lending. The Associate or Senior Associate will evaluate opportunities, perform credit analysis, and support execution and monitoring of investments.

Candidates should have 3-7 years in leveraged finance or private credit, strong modeling skills, and the ability to manage multiple deals while communicating clearly with sponsors and management

Qualifications

• 3-7 years of relevant experience in leveraged finance or private credit (direct lending preferred).
• Strong technical and analytical skills, including advanced financial modeling.
• Experience on middle-market, sponsor-backed transactions is preferred.
• Ability to manage multiple deals in a fast-paced environment.
• Excellent communication, clear and persuasive investment materials.

Responsibilities

• Lead and support underwriting efforts for middle-market, sponsor-backed direct lending transactions.
• Perform detailed financial modeling, including LBO, cash flow, and downside analyses.
• Conduct comprehensive due diligence with industry research, calls, and management meetings.
• Prepare and present investment memoranda to the Investment Committee.
• Partner with private equity sponsors, management teams, and internal stakeholders throughout the deal process.
• Assist with portfolio monitoring, covenant compliance, performance tracking, and valuation inputs.
• Contribute to the enhancement of underwriting processes, frameworks, and best practices.

Skills

Financial modeling

Credit analysis

Deal execution

Due diligence

Communication

Team collaboration

Job description

We are partnered with a global asset management firm with approximately $250bn in AUM and a long-standing reputation for delivering exceptional investment outcomes for clients. The firm's Private Credit team manages roughly $4bn in AUM, focusing on middle‑market, sponsor‑backed direct lending.

As the platform continues to scale, the team is seeking an experienced Associate or Senior Associate to join its private credit team in their Chicago office. This individual will play a key role in evaluating new investment opportunities, conducting rigorous credit analysis, and supporting the execution and monitoring of private credit investments.

Key Responsibilities

• Lead and support underwriting efforts for middle‑market, sponsor‑backed direct lending transactions.
• Perform detailed financial modeling, including leveraged buyout, cash flow, and downside scenario analyses.
• Conduct comprehensive due diligence, including industry research, competitive assessments, customer/supplier calls, and management meetings.
• Prepare and present investment memoranda and recommendations to the Investment Committee.
• Partner closely with private equity sponsors, management teams, and internal stakeholders throughout the deal process.
• Assist with ongoing portfolio monitoring, including covenant compliance, performance tracking, and valuation inputs.
• Contribute to the continuous enhancement of underwriting processes, frameworks, and best practices.

Qualifications

• 3-7 yearsof relevant experience in leveraged finance or private credit (preferably already in a direct lending role)
• Strong technical and analytical skill set, including advanced financial modeling capabilities.
• Experience working on middle‑market, sponsor-backed transactions is strongly preferred.
• Demonstrated ability to manage multiple deals simultaneously in a fast‑paced environment.
• Excellent communication skills, with the ability to craft clear, concise, and persuasive investment materials.
• Team-oriented mindset with strong attention to detail and intellectual curiosity.