Man Group plc
Underwriting Team Associate
Man Group plc, New York, New York, us, 10261
About Varagon
Man Varagon is a specialist middle-market direct lender, focused on creating value-added financing solutions to private equity sponsors and investors in private credit since 2014. The firm's approach is highly selective, focusing exclusively on direct lending to the core middle market, structuring loans to non-cyclical businesses in the US operating in recession-resilient sectors, typically with an EBITDA of between US$10 million and US$75 million. As a trusted partner for sponsors, Man Varagon has completed financing for over 330 borrowers.
Varagon's assets under management were $10.7 billion at 31 March 2024. For more information about Varagon, please visit www.varagon.com.
Position Responsibilities
The individual will work within the Underwriting Team to review new investment opportunities and monitor existing investments. Responsibilities include:•Review Confidential Information Memorandums to assess new investment opportunities across various industries and transactions including leveraged buy-outs, mergers & acquisitions, dividend recaps, and refinances•Conduct thorough due diligence of new deal opportunities inclusive of attending and reviewing company management presentations, reviewing virtual datarooms to analyze and manipulate large data sets to assess underlying trends and KPIs, conducting market and industry research through industry expert calls and third-party reports, etc.•Prepare diligence and financial data request lists for the evaluation of new deals•Prepare initial credit preview memorandums and final credit approval memorandums laying out the company overview, capital structure, credit strengths and risks, due diligence findings, and underwriting and downside financial modeling cases to be presented to the Investment Committee•Assist in the coordination of deal closings inclusive of negotiating credit agreements with external counsel•Monitor the ongoing performance of portfolio accounts including reviewing monthly and quarterly financial statements, attending lender update meetings, providing monthly or quarterly updates to the Investment Committee, and working on incremental debt raises within the portfolio
Candidate Requirements•Bachelor's Degree, preferably with a major in Finance, Accounting, Economics or similar educational background•2 to 4 years of experience, preferably in a leveraged finance, investment banking, or commercial banking environment•Ability to evaluate, structure, and execute investment opportunities and transactions•Demonstrate credit acumen by leveraging tools and analyses and interpreting due diligence findings to guide investment decisions•Use quantitative and qualitative analysis to generate insights and support fact-based decision making•Strong analytical, financial modeling, and research skills•Relationship management skills such as the ability to establish, develop, and manage internal and external relationships•Ability to communicate effectively, manage timelines, and prioritize tasks efficiently•Proficient in Excel, Word, PowerPoint and other proprietary research software
Base Salary Range: The anticipated based salary range for this position is $110,000-$130,000 + benefits + a discretionary bonus. This is the base salary range that the Company believes it will pay for this position at the time of this posting based on the location and requirements of the position as well as the skills, qualifications, and experience of the applicant. The Firm reserves the right to modify this pay range at any time.
Our Culture, Values and Benefits at Man
Man Group is proud to provide the best working environment possible for all of its employees, and we are committed to equal opportunities. At Man Group we believe that a diverse workforce is a critical factor in the success of our business and this is embedded in our culture and values. There are a number of external and internal initiatives, partnerships and programmes that help us to attract and develop talent from diverse backgrounds and that encourage inclusion and diversity across our firm and the industry. Man Group is a Signatory of the Women in Finance Charter and the Race at Work Charter. Man Group is also a Disability Confident Committed employer; if you require help or information on reasonable adjustments as you apply for roles with us, please contact Peopleoperations@man.com. https://www.man.com/diversity
Man Group supports many charities, and global initiatives. We support professional training and development, and requests for flexible or part-time working. Employees are also offered two 'Mankind' days of paid leave per year as part of the Man Charitable Trust's community volunteering programme.
We offer comprehensive, firm-wide employee benefits including competitive holiday entitlements, pension/401k, life and long-term disability coverage, group sick pay, enhanced parental leave and long-service leave. Additional benefits are tailored to local markets and may include private medical coverage, discounted gym membership and wellbeing programmes.
Man Group is a Disability Confident Committed employer; if you require help or information on reasonable adjustments as you apply for roles with us, please contact Peopleoperations@man.com.
Man Varagon is a specialist middle-market direct lender, focused on creating value-added financing solutions to private equity sponsors and investors in private credit since 2014. The firm's approach is highly selective, focusing exclusively on direct lending to the core middle market, structuring loans to non-cyclical businesses in the US operating in recession-resilient sectors, typically with an EBITDA of between US$10 million and US$75 million. As a trusted partner for sponsors, Man Varagon has completed financing for over 330 borrowers.
Varagon's assets under management were $10.7 billion at 31 March 2024. For more information about Varagon, please visit www.varagon.com.
Position Responsibilities
The individual will work within the Underwriting Team to review new investment opportunities and monitor existing investments. Responsibilities include:•Review Confidential Information Memorandums to assess new investment opportunities across various industries and transactions including leveraged buy-outs, mergers & acquisitions, dividend recaps, and refinances•Conduct thorough due diligence of new deal opportunities inclusive of attending and reviewing company management presentations, reviewing virtual datarooms to analyze and manipulate large data sets to assess underlying trends and KPIs, conducting market and industry research through industry expert calls and third-party reports, etc.•Prepare diligence and financial data request lists for the evaluation of new deals•Prepare initial credit preview memorandums and final credit approval memorandums laying out the company overview, capital structure, credit strengths and risks, due diligence findings, and underwriting and downside financial modeling cases to be presented to the Investment Committee•Assist in the coordination of deal closings inclusive of negotiating credit agreements with external counsel•Monitor the ongoing performance of portfolio accounts including reviewing monthly and quarterly financial statements, attending lender update meetings, providing monthly or quarterly updates to the Investment Committee, and working on incremental debt raises within the portfolio
Candidate Requirements•Bachelor's Degree, preferably with a major in Finance, Accounting, Economics or similar educational background•2 to 4 years of experience, preferably in a leveraged finance, investment banking, or commercial banking environment•Ability to evaluate, structure, and execute investment opportunities and transactions•Demonstrate credit acumen by leveraging tools and analyses and interpreting due diligence findings to guide investment decisions•Use quantitative and qualitative analysis to generate insights and support fact-based decision making•Strong analytical, financial modeling, and research skills•Relationship management skills such as the ability to establish, develop, and manage internal and external relationships•Ability to communicate effectively, manage timelines, and prioritize tasks efficiently•Proficient in Excel, Word, PowerPoint and other proprietary research software
Base Salary Range: The anticipated based salary range for this position is $110,000-$130,000 + benefits + a discretionary bonus. This is the base salary range that the Company believes it will pay for this position at the time of this posting based on the location and requirements of the position as well as the skills, qualifications, and experience of the applicant. The Firm reserves the right to modify this pay range at any time.
Our Culture, Values and Benefits at Man
Man Group is proud to provide the best working environment possible for all of its employees, and we are committed to equal opportunities. At Man Group we believe that a diverse workforce is a critical factor in the success of our business and this is embedded in our culture and values. There are a number of external and internal initiatives, partnerships and programmes that help us to attract and develop talent from diverse backgrounds and that encourage inclusion and diversity across our firm and the industry. Man Group is a Signatory of the Women in Finance Charter and the Race at Work Charter. Man Group is also a Disability Confident Committed employer; if you require help or information on reasonable adjustments as you apply for roles with us, please contact Peopleoperations@man.com. https://www.man.com/diversity
Man Group supports many charities, and global initiatives. We support professional training and development, and requests for flexible or part-time working. Employees are also offered two 'Mankind' days of paid leave per year as part of the Man Charitable Trust's community volunteering programme.
We offer comprehensive, firm-wide employee benefits including competitive holiday entitlements, pension/401k, life and long-term disability coverage, group sick pay, enhanced parental leave and long-service leave. Additional benefits are tailored to local markets and may include private medical coverage, discounted gym membership and wellbeing programmes.
Man Group is a Disability Confident Committed employer; if you require help or information on reasonable adjustments as you apply for roles with us, please contact Peopleoperations@man.com.