Principal. Private IG (Portfolio Management/Workouts)

Athene; New York (NY); On-site; USD 270,000 - 330,000; Full time

Benefits offered by this job

Discretionary annual bonus

Competitive salary

Professional development opportunities

Job summary

Athene is seeking an experienced Investment Professional in New York to manage private credit portfolios and lead complex transactions. This role requires a minimum of 8 years of experience in private credit portfolio management, workouts, and restructuring.

You will oversee portfolio performance, engage with counterparties, and lead new investment underwriting efforts. Strong analytical skills and experience managing junior team members are essential. Compensation includes a base salary of $300,000 plus a discretionary bonus.

Qualifications

• Minimum 8 years of relevant experience in private credit portfolio management.
• Strong independent credit judgment and analytical skills.
• Experience managing junior resources in a results-oriented environment.

Responsibilities

• Lead portfolio monitoring and credit oversight.
• Manage and develop structured views of the portfolio.
• Lead underwriting and execution on new private investment grade transactions.

Skills

Private credit portfolio management

Workouts and restructuring

Covenant negotiation

Analytical skills

Team leadership

Education

Bachelor's degree

Job description

Position Overview

Investment professional working within Apollo's Private Investment Grade team, part of the Global Investment Grade business, focused on the origination, structuring, underwriting, execution, and ongoing management of illiquid investments across developed markets. The team has a format-agnostic mandate covering 4(a)(2) private placements, bilateral and club senior secured loans and forward-flow structures, infrastructure and project finance, and secondary purchases, with the objective of earning excess spread over comparable public investment grade for the additional complexity and illiquidity. This Principal seat is the team's primary portfolio management and workouts role. The person in this seat owns the active management of a large and complex existing book — leading covenant monitoring, amendments, waivers, restructurings, and position management decisions — while also executing new investments. It is a role that requires both the forensic credit instinct to identify problems early and the execution capability to lead transactions, manage counterparties, and present investment views to the Investment Committee. The person in this seat will be in rooms with issuers, legal counsel, and agents, driving outcomes — and simultaneously leading new investment underwriting as the strategy evolves.

Primary Responsibilities

• Portfolio Management & Active Credit Oversight

  Lead portfolio monitoring across assigned holdings — financial performance tracking, covenant compliance, rating migration, and early identification of credit deterioration; maintain watchlist discipline and drive early escalation of deteriorating credits.

  Lead amendments, waivers, and consent requests across the portfolio — managing the full counterparty process from initial identification through negotiation, documentation, and execution.

  Lead workout and restructuring situations, including active position management decisions: secondary sales, position sizing adjustments, and capital stack repositioning.

  Manage and develop a structured view of the portfolio — identifying positions for active management, runoff, secondary sale, or reinvestment.

  Coordinate with the IG sector analysts and Performing Credit analyst team on shared issuer views, sector coverage, and early warning signals across the public and private IG platform.

• New Investment Execution

  Lead underwriting and execution on new private investment grade transactions — fundamental credit analysis, independent credit opinions on business risk, financial risk, structural risk, and relative value, and Investment Committee presentations.

  Lead structuring, covenant negotiation, and documentation on new deals across formats, working alongside internal and external legal counsel; negotiate pricing, tenor, amortization, call protection, security packages, and financial maintenance covenants.

  Ensure analytical work and deal recommendations reflect the relevant insurance balance-sheet constraints across US (NAIC/SVO, RBC, Schedule D) and European (Solvency II, matching adjustment) mandates; oversee external rating processes and regulatory filings on lead investor positions.

  Engage directly with counterparties — corporate executives, lenders, agents, investment banks, and legal counsel — in both portfolio management and new deal contexts.

Platform & Team

Set and enforce analytical standards, credit process rigor, and documentation quality across the team; lead the team's adoption of AI tooling across portfolio surveillance, covenant extraction, document review, and comparable transaction analysis.

Partner with High Grade Corporate Solutions, Apterra, ABF, Hybrid Credit, and other Apollo origination channels on transactions and credits that span multiple products or capital stacks.

Supervise and develop junior team members — including associates with limited prior experience — providing day-to-day guidance on credit work, deal execution, and professional development.

Contribute to platform-building efforts including investment process design, technology and data infrastructure priorities, and thematic research and investor-facing materials.

Qualifications & Experience

• Minimum 8 years of relevant experience in private credit portfolio management, workouts, special situations, restructuring, debt advisory, or a closely adjacent field. Buy-side experience preferred; sell-side restructuring and special assets backgrounds considered.
• Substantive experience in workouts, restructuring, or active position management — including direct ownership of amendment, waiver, and restructuring processes across complex credits.
• Track record of leading underwriting and execution on complex transactions end-to-end; this is not a monitoring-only role — new investment execution capability is required.
• Deep expertise in covenant negotiation, documentation, and capital structure analysis across at least one format: private placements, syndicated or club loans.
• Strong independent credit judgment — ability to identify credit deterioration early, form and defend a view under pressure, and lead both defensive and offensive investment decisions.
• Familiarity with insurance balance-sheet investing (NAIC/SVO, RBC, Solvency II) helpful; genuine willingness to develop the gaps is essential.
• Experience managing and developing junior resources in a results-oriented environment; player-coach orientation essential — this team includes associates at early stages of their development.
• Demonstrated interest in AI-enabled workflows and process improvement — particularly portfolio surveillance and covenant monitoring applications.
• Strong written and verbal communication suited to IC presentations, credit memos, amendment negotiations, and external counterparty interactions.
• Bachelor's degree with an exceptional academic record. CFA, MBA, and/or ACCA helpful but not required.

Benefits

Pay Range: $300,000 (base salary range listed). This position is also eligible for a discretionary annual bonus based on personal, team, and Firm performance. Compensation ranges are based on several factors including job function, level, and geographic location. Final offer amounts are determined by multiple factors including candidate experience and expertise, and may vary from the amounts listed here.

Equal Employment Opportunity Statement

The firm and its affiliates comply with applicable discrimination and equal opportunities legislation in all of its jurisdictions and do not discriminate in employment or recruitment based on race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression or any other protected characteristic under applicable law.