Private Equity Senior Associate

LLR Partners; Philadelphia (Philadelphia County); On-site; USD 150,000 - 210,000; Full time

Job summary

LLR Partners is seeking a Senior Associate to join its Investment Team focused on Healthcare, based in Philadelphia. The role involves evaluating, executing, and supporting investments in growing software, technology, and healthcare businesses across the lower middle market.

As a core member of the deal team, you will participate in market mapping, due diligence, transaction execution, and portfolio company support, with increasing responsibility.

Qualifications

• 4–7 years of relevant investment experience, ideally including 2–3 years of investment banking followed by 2–3 years of private equity.
• Direct experience evaluating, diligencing, and executing investments in healthcare, software, technology, B2B SaaS, or tech-enabled services.
• Experience with lower middle market companies strongly preferred.
• Strong financial modeling, valuation, and analytical skills with the ability to translate quantitative work into investment insight.

Responsibilities

• Evaluate new investment opportunities across SaaS / Healthcare markets, including platform investments, add-ons, growth equity investments, recapitalizations, and buyouts.
• Develop research-driven investment theses by identifying attractive markets, mapping competitive landscapes, assessing market structure, and forming a view on where LLR can create differentiated value.
• Conduct investment analysis, including financial modeling, valuation, unit economics, cohort analysis, customer and revenue quality, market sizing, competitive positioning, and assessment of key business drivers.
• Synthesize incomplete or conflicting information, identify the most important diligence questions, pressure-test assumptions, and assess fit with LLR’s investment criteria.
• Support and lead diligence workstreams, including internal analyses, third‑party diligence coordination, data room review, diligence trackers, and summaries of key findings.
• Create clear and persuasive investment materials, including investment committee memos, market maps, company profiles, diligence summaries, and internal discussion materials.
• Communicate effectively with senior investment professionals, business development colleagues, value creation team members, management teams, bankers, consultants, lenders, attorneys, and other transaction advisors.
• Build relationships with prospective and portfolio company management teams and help position LLR as a thoughtful, value‑added partner to growing software businesses.
• Contribute to sourcing and origination through thematic outreach, banker coverage, company research, conference preparation, and proactive identification of attractive investment opportunities.
• Partner with portfolio companies and LLR’s Value Creation Team on selected strategic initiatives, including add‑on acquisition evaluation, market research, KPI analysis, board materials, and growth‑oriented projects.
• Manager and mentor Analysts and Associates, including reviewing work product, helping prioritize analyses, and supporting their development.

Skills

Investment banking

Private equity

Financial modeling

Valuation

Diligence

Communication

Education

Undergraduate degree

Tools

Excel

Data room tools

Job description

LLR Partners is seeking a Senior Associate to join its Investment Team focused primarily in the Healthcare sector, based in Philadelphia. This role is a meaningful opportunity for an investment professional to help identify, evaluate, execute, and support investments in growing software, technology, and healthcare businesses across the lower middle market.

This individual would be a core member of LLR’s deal team where they would be involved across the full investment lifecycle, from market mapping and thesis development to diligence, transaction execution, and portfolio company support. The role offers significant exposure to senior investment professionals, management teams, intermediaries, and portfolio company leaders, with increasing responsibility for shaping investment theses and driving workstreams.

The right candidate brings a strong foundation in investment banking and private equity, with experience evaluating healthcare, software, technology, and/or lower middle market businesses. They are analytical, commercially minded, and able to turn complex information into clear investment insight.

Accountabilities

• Evaluate new investment opportunities across SaaS / Healthcare markets, including platform investments, add-ons, growth equity investments, recapitalizations, and buyouts.
• Develop research-driven investment theses by identifying attractive markets, mapping competitive landscapes, assessing market structure, and forming a view on where LLR can create differentiated value.
• Conduct investment analysis, including financial modeling, valuation, unit economics, cohort analysis, customer and revenue quality, market sizing, competitive positioning, and assessment of key business drivers.
• Synthesize incomplete or conflicting information, identify the most important diligence questions, pressure-test assumptions, and assess fit with LLR’s investment criteria.
• Support and increasingly lead diligence workstreams, including internal analyses, third‑party diligence coordination, data room review, diligence trackers, and summaries of key findings.
• Create clear and persuasive investment materials, including investment committee memos, market maps, company profiles, diligence summaries, and internal discussion materials.
• Communicate effectively with senior investment professionals, business development colleagues, value creation team members, management teams, bankers, consultants, lenders, attorneys, and other transaction advisors.
• Build relationships with prospective and portfolio company management teams and help position LLR as a thoughtful, value‑added partner to growing software businesses.
• Contribute to sourcing and origination through thematic outreach, banker coverage, company research, conference preparation, and proactive identification of attractive investment opportunities.
• Partner with portfolio companies and LLR’s Value Creation Team on selected strategic initiatives, including add‑on acquisition evaluation, market research, KPI analysis, board materials, and growth‑oriented projects.
• Manager and mentor Analysts and Associates, including reviewing work product, helping prioritize analyses, and supporting their development.

Skills and Requirements

The ideal candidate is a motivated self‑starter and team player who can function in an entrepreneurial atmosphere with minimal supervision. Strong analytical background including both finance and accounting skills, excellent communication skills and a high level of maturity are essential. Qualified candidates should also possess the following:

• 4‑7 years of relevant investment experience, ideally including 2–3 years of investment banking experience followed by 2-3 years of private equity experience.
• Direct experience evaluating, conducting diligence, and executing investments in healthcare, software, technology, B2B SaaS, or tech‑enabled services.
• Experience with lower middle market companies strongly preferred.
• Strong financial modeling, valuation, and analytical skills, with the ability to translate quantitative work into investment insight.
• Commercial judgment and the ability to identify what matters most, develop a clear point of view, and communicate implications to senior decision‑makers.
• Excellent written and verbal communication skills, including the ability to create clear, concise, and persuasive investment materials.
• Strong interpersonal skills and credibility with management teams, bankers, advisors, and internal stakeholders.
• A high degree of ownership, intellectual curiosity, and comfort taking on meaningful responsibility.
• Undergraduate degree with strong academic achievement.
• Philadelphia‑based or willing to be based in Philadelphia.

About LLR Partners

LLR Partners is a lower middle market private equity firm focused on investing in software and tech‑enabled companies within the knowledge economy. Founded in 1999 and headquartered in Philadelphia, LLR has raised over $7.5 billion across seven funds and has partnered with over 130 companies. LLR believes in creating value through partnership by providing flexible capital, strategic guidance and sector insight to help companies grow every day.

LLR Partners is proud to be an Equal Employment Opportunity and ‑Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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