Frontall USA LLC
Operations Associate, Private Equity
Frontall USA LLC, Boston, New York, United States,
Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, and London. Since its founding in 1999, the firm has raised over $38 billion in capital across its Private Equity and Private Debt businesses. With more than 400 employees and over 160 investment professionals, the firm is a leading capital partner for North American middle market companies.
POSITION SUMMARY:
This position is responsible for all operational functions related to the Audax Private Equity Finance department. This team member’s primary responsibility is supporting the various deal teams in executing acquisitions and sales according to our investment strategy. This role includes proactively engaging the deal team on funding needs and timelines, thorough review of funds flows and preparation of wires. This individual will also have other responsibilities such as daily reconciliation of cash, maintenance of credit facilities and various other reporting requirements. The ideal candidate promotes an environment of efficiency, accuracy, quality and control. Candidate must have effective time management skills and superior attention-to-detail.
RESPONSIBILITIES:
Work closely with deal teams in tracking status of pending deal closings on a frequent basis
Review all funds flows to ensure the accuracy of sources and uses, purchase price reconciliation, various fee calculations, seller proceed amounts, debt payoff amounts, and all wiring information related to the transaction
Review and interpret legal documentation related to credit facilities, funds and investments
Preparation, execution, and documentation of outgoing wires
Preparation of weekly reports identifying various data points such as pending deal closings, equity requirements and cash balances
Identify and coordinate opening of new investment-specific bank accounts for each platform investment including completing KYC requirements with the bank
Daily cash reconciliation of investment-specific bank accounts
Coordinate with Finance, Management Company, and Co-invest teams for any liquidity needs for upcoming deal closings
Maintenance of multiple credit facilities including submission of borrowing/repayment requests, verifying the interest invoices/coordinating payments and quarterly reporting requirements
Complete periodic KYC refresh with Bank of America for applicable accounts
Maintenance of investment-specific shareholder and related party wire instructions and templates
Maintenance and administration of assets held with custodian bank
Periodic payment of investment-specific expenses and payables
Periodic calculation of interest income earned on debt investments
Identify continued process and reporting enhancements related to daily operations
Complete various other ad-hoc requests and projects
REQUIREMENTS/QUALIFICATIONS:
BS in Finance, Accounting, or a related major, with an advanced degree or certification is a plus
At least 3-5 years of professional experience in an alternative investment manager or administrator in an operational or financial support role
Understanding or experience with Private Equity or other alternative investments transactions preferred
Proficient knowledge of Excel with superb attention-to-detail
Excellent communication skills including speaking, writing and active listening
Exceptional critical thinking skills used to seek out opportunities to advance and improve operations
Effective time management, prioritization and multitasking abilities in order to meet tight deadlines
Proactive mindset with the willingness to learn
Experience with online banking platforms, treasury management systems and CRM software applications (Bank of America CashPro, Kyriba and InvestorFlow a plus)
LOCATION:
Boston, MA / Hybrid. 3 days/week in the office.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Audax Management Co. is an equal opportunity employer.
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POSITION SUMMARY:
This position is responsible for all operational functions related to the Audax Private Equity Finance department. This team member’s primary responsibility is supporting the various deal teams in executing acquisitions and sales according to our investment strategy. This role includes proactively engaging the deal team on funding needs and timelines, thorough review of funds flows and preparation of wires. This individual will also have other responsibilities such as daily reconciliation of cash, maintenance of credit facilities and various other reporting requirements. The ideal candidate promotes an environment of efficiency, accuracy, quality and control. Candidate must have effective time management skills and superior attention-to-detail.
RESPONSIBILITIES:
Work closely with deal teams in tracking status of pending deal closings on a frequent basis
Review all funds flows to ensure the accuracy of sources and uses, purchase price reconciliation, various fee calculations, seller proceed amounts, debt payoff amounts, and all wiring information related to the transaction
Review and interpret legal documentation related to credit facilities, funds and investments
Preparation, execution, and documentation of outgoing wires
Preparation of weekly reports identifying various data points such as pending deal closings, equity requirements and cash balances
Identify and coordinate opening of new investment-specific bank accounts for each platform investment including completing KYC requirements with the bank
Daily cash reconciliation of investment-specific bank accounts
Coordinate with Finance, Management Company, and Co-invest teams for any liquidity needs for upcoming deal closings
Maintenance of multiple credit facilities including submission of borrowing/repayment requests, verifying the interest invoices/coordinating payments and quarterly reporting requirements
Complete periodic KYC refresh with Bank of America for applicable accounts
Maintenance of investment-specific shareholder and related party wire instructions and templates
Maintenance and administration of assets held with custodian bank
Periodic payment of investment-specific expenses and payables
Periodic calculation of interest income earned on debt investments
Identify continued process and reporting enhancements related to daily operations
Complete various other ad-hoc requests and projects
REQUIREMENTS/QUALIFICATIONS:
BS in Finance, Accounting, or a related major, with an advanced degree or certification is a plus
At least 3-5 years of professional experience in an alternative investment manager or administrator in an operational or financial support role
Understanding or experience with Private Equity or other alternative investments transactions preferred
Proficient knowledge of Excel with superb attention-to-detail
Excellent communication skills including speaking, writing and active listening
Exceptional critical thinking skills used to seek out opportunities to advance and improve operations
Effective time management, prioritization and multitasking abilities in order to meet tight deadlines
Proactive mindset with the willingness to learn
Experience with online banking platforms, treasury management systems and CRM software applications (Bank of America CashPro, Kyriba and InvestorFlow a plus)
LOCATION:
Boston, MA / Hybrid. 3 days/week in the office.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Audax Management Co. is an equal opportunity employer.
#J-18808-Ljbffr