Managing Director, Credit Restructuring

CPP Investments | Investissements RPC; New York (NY); On-site; USD 275,000 - 460,000; Full time

Job summary

CPP Investments seeks a senior restructuring expert to lead strategic workouts across a growing portfolio of stressed assets. You will partner with investment teams to protect value, maximize recoveries and position the firm ahead of critical events.

The role requires deep creditor-side experience, strong negotiation skills, and the ability to influence senior professionals within a collaborative deal-team model. Location in New York or Toronto is expected.

Qualifications

• Extensive restructuring experience at senior or MD level.
• Deep creditor-side experience, lenders or institutional investors.
• Proven leadership in complex workouts and distressed situations.

Responsibilities

• Lead CI's restructuring strategy and execution across stressed investments.
• Advise on capital structure, liquidity and recovery scenarios with deal teams.
• Coordinate with Legal, Portfolio Management and external advisers.
• Develop and implement restructuring playbooks and benchmarks.

Skills

Senior restructuring

Credit markets

Negotiation

Executive presence

Strategic judgment

Job description

Purpose. Performance. People.

Joining CPP Investments means joining one of the world’s most admired and respected institutional investors to drive a single mandate: to deliver strong, sustainable returns for generations of Canadians.

With a long-term horizon and global reach, we deploy capital at scale across public and private markets. Our size, stability, and disciplined investment philosophy allow us to pursue complex opportunities and build enduring partnerships worldwide.

For our people, this means meaningful work with tangible impact, real opportunity, and collaboration with exceptional colleagues who value partnership and performance. Here, you’ll contribute to outcomes that matter alongside team members committed to excellence and shared success.

The Role

Credit Investments (CI) is seeking an experienced restructuring professional to strengthen its capability to manage underperforming, stressed and distressed credit investments as the portfolio grows in scale and complexity.

The Managing Director, Restructuring will provide dedicated senior creditor-side expertise across workouts, liability management exercises (LMEs), restructurings, liquidity solutions and other stressed situations. The role will partner with CI investment teams to preserve investment value, maximize recoveries and support effective positioning ahead of key events.

The Team

Credit Investments currently manages assets in excess of $80.5 billion; investment deal sizes range from $50M to over $1B. The Credit Investments team has over 147 investment professionals across North America, Europe and Asia.

Reporting to the Head of Credit Strategy, the role will work closely with CI investment teams, Legal, Portfolio Management and senior leadership, and will contribute to broader CPP Investments matters where restructuring expertise can add value. The role is expected to be based in Toronto or New York.

Accountabilities

Lead Restructuring Strategy and Execution

• Serve as CI's senior restructuring expert and provide commercial leadership and decision-making authority on material stressed and distressed investments.
• Partner with investment teams to develop and execute restructuring strategies designed to protect investment value and maximize recoveries. The restructuring lead and relevant deal team will be co-accountable, with the deal team retaining ownership of the ultimate investment outcome.
• Lead negotiations involving amendments, waivers, recapitalizations, exchange offers, LMEs, rescue financings, asset sales, refinancings and formal restructuring processes.
• Assess alternative restructuring pathways and advise on likely outcomes, negotiating leverage, new-money requirements, timing and execution risk, drawing on relevant market precedents and judgement on key economic terms.
• Support investment teams in anticipating potential creditor actions and positioning CI effectively ahead of key events.

Provide Senior Commercial Judgment

• Provide independent challenge and advice on capital structure, liquidity, valuation, recovery scenarios, financing alternatives and strategic options in distressed situations.
• Help teams identify and use sources of negotiating leverage, including opportunities to build alignment with other stakeholders, while engaging constructively and credibly with borrowers, sponsors, shareholders and other creditors.
• Advise on creditor-group formation, steering committees and lender-coordination processes, and support the selection and efficient direction of external restructuring bankers, financial advisers and other specialists.
• Bring current restructuring market intelligence, conventions and precedents to portfolio-management decisions.
• Assess proposed outcomes across recovery value, incremental capital, time to resolution, external costs, reputational considerations and demands on deal-team capacity. Success will be measured primarily through avoided losses and recoveries achieved rather than direct AUM attribution.

Partner with Deal Teams and Legal

• Work alongside existing deal teams as the lead restructuring specialist adviser rather than operating as a separate distressed-investing team; deal teams remain actively involved and accountable for the investment outcome.
• Work closely with CI Legal, including dedicated restructuring legal resources, to integrate commercial, negotiating and legal strategy. Legal will advise on documentation, contractual rights and available legal pathways, while this role will lead the commercial strategy and value-maximizing trade-offs informed by that advice.
• Partner with Portfolio Management and senior CI leadership to identify situations requiring early intervention and build strong working relationships across CI and, where appropriate, other CPP Investments departments.

Strengthen CI's Restructuring Platform

• Play a leadership role in CI's restructuring panel, including triaging situations, challenging strategies and mobilizing resources.
• Establish regular watchlist triage to identify situations where specialist involvement can add value before a formal default or restructuring.
• Develop restructuring playbooks, precedent libraries, market intelligence and other institutional resources; lead post-mortems and transfer lessons across CI investment teams.
• Coach and develop investment professionals to increase restructuring knowledge and judgment and help build a scalable capability for a substantially larger CI portfolio. The role will have no direct people-leadership responsibilities initially, although this may change as the portfolio and workout activity grow.

Broader Contribution

• During periods of lower restructuring activity, contribute to broader CI strategic and portfolio initiatives where restructuring, capital-structure, valuation, transaction or market expertise can add value.
• Where appropriate, provide restructuring expertise to other parts of CPP Investments and represent CPP Investments credibly with borrowers, sponsors, banks, advisers and institutional creditors in complex and sensitive situations.

What You Bring

• Significant restructuring experience gained as a banker or adviser at a leading restructuring advisory firm, or investment bank.
• Senior-level experience (approximately 15 years) consistent with a Managing Director appointment, with a demonstrated ability to lead complex restructuring processes and advise sophisticated institutional clients.
• Deep creditor-side experience representing lenders, bondholders, creditor groups and/or institutional investors.
• Extensive experience with LMEs, complex out-of-court restructurings and formal restructuring processes.
• Strong expertise in liquidity analysis, capital structures, valuation, recovery analysis, financing alternatives and transaction execution.
• Demonstrated experience negotiating with sponsors, companies, creditor groups and advisers in high-stakes situations.
• Strong knowledge of restructuring market conventions, precedents and creditor dynamics.
• Meaningful familiarity with restructuring documentation and legal concepts, and the ability to work effectively with counsel.
• Strong executive presence and judgment, with the ability to influence senior investment professionals while operating in a collaborative, advisory capacity.
• Ability to move between detailed transaction execution and broader strategic judgment, with a collaborative mindset suited to CI's deal-team ownership model.

This information for those living or expecting to live in New York City. The salary range for this position is: USD $275,000 - $460,000

US state/city legislation requires CPP investments to include a reasonable estimate of the compensation range for this role. The base salary range shown here is a reasonable expectation for the posted role and is part of a competitive total rewards package which includes comprehensive benefits, a performance-based incentive plan, a 401 (k) plan and paid time off. Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise.

You are motivated to contribute to something larger than yourself, approach complex challenges with rigor, and hold yourself to high standards in a collaborative, performance-driven environment.

We provide colleagues with cutting-edge AI tools, dedicated learning time, and practical support to help them deliver with greater impact.

Inclusion & Accessibility

CPP Investments is committed to equitable access to employment and building a workforce that reflects diverse talent and perspectives. If you require accommodation at any stage of the recruitment process, please let us know and we will work with you to meet your needs.