Distressed Credit & Special Assets Associate

Blue Owl Capital Holdings LLC; Burnt Hills (NY); On-site; USD 125,000 - 175,000; Full time

Benefits offered by this job

In-office Monday-Thursday

Job summary

Blue Owl Capital is seeking an Associate to join the Special Assets team in New York. The role focuses on managing stressed and underperforming credits, rebuilding underwrite analyses, and supporting liquidity and recovery strategies.

You will work with the underwriting team to produce clear analyses and actionable recommendations in fast-moving situations. Responsibilities include portfolio tracking, scenario analyses, negotiations with lenders, and preparing materials for investment committee

Qualifications

• Bachelor’s degree in Finance, Accounting, or related field with strong academics.
• 2–5 years in credit workouts/restructuring or similar.
• Excellent written and verbal communication; ability to synthesize complex issues.
• Strong analytical skills and sound judgment; capable of driving workstreams.

Responsibilities

• Help manage a portfolio of stressed and underperforming credits, including owned portfolio companies, by tracking performance, key risks, and next-step action plans.
• Re-underwrite actionable credits with a focus on liquidity, drivers of underperformance, corrective measures, and prospects for recovery.
• Build and maintain financial analyses and models to evaluate restructuring, amendment, waiver, and recovery alternatives (including scenario and downside cases).
• Support the development and execution of strategies to maximize recoveries, including performance improvement and value creation initiatives for owned portfolio companies.
• Participate in negotiations with key constituencies (financial sponsors, management teams, bank group members, and other lenders across the capital structure) to advance restructuring and documentation outcomes.
• Draft and coordinate restructuring, amendment, and waiver materials (including internal memos and periodic portfolio updates) for deal teams and investment committee review.
• Contribute to deal team discussions and investment committee presentations by synthesizing key credit issues, options, and recommended paths forward.
• Provide analytical and process support to senior team members as needed, including ad hoc diligence requests and cross-team initiatives.

Skills

Credit workouts

Financial modeling

Excel modeling

Communication skills

Education

Bachelor's degree in Finance or related

Tools

Excel

Job description

Blue Owl Capital is seeking an Associate to join the Special Assets team in New York. The role focuses on managing stressed and underperforming credits, rebuilding underwrite analyses, and supporting liquidity and recovery strategies.

You will work with the underwriting team to produce clear analyses and actionable recommendations in fast-moving situations. Responsibilities include portfolio tracking, scenario analyses, negotiations with lenders, and preparing materials for investment committee