What are the responsibilities and job description for the PGIM Private Capital - Fund Operations Associate, Direct Lending position at PGIM?
Job Classification:
Investment Management - Investment Operations
What You Will Do
The Fund Operations team is a unit within PGIM Private Capital responsible for the financial oversight and reporting of multiple credit fund strategies. Currently, the team is responsible for five mezzanine funds, two mezzanine energy funds and two Direct Lending fund complexes (and associated separate accounts). The investors in these strategies include affiliated subsidiaries of Prudential Financial, Inc. and unaffiliated institutional investors.
The Direct Lending strategy within PGIM Private Capital is responsible for originating, underwriting, and managing a portfolio of privately placed leveraged loans for middle market issuers ($10-100 million of EBITDA). Due to the strong performance of that track record coupled with growing transaction flow, PPC has recently closed on its second third-party fund, PGIM Senior Loan Opportunities II (PSLO II), bringing the Direct Lending fund strategy to $5.0bn in commitments. The Fund Operations Associate hired for this role will be expected to play an integral role in continuing to grow the strategy.
What You Can Expect
At PGIM Private Capital, expertise, analysis, and experience drive everything we do. We strategically target select global markets to offer unique deal flow to investors and prospective issuers. Our team is comprised of bright, focused professionals who collaborate at all levels to manage originations and a private debt portfolio across investment grade, high yield and mezzanine investments. We invest in the potential of our employees by offering them large-scope, small-team emphasis on collaboration, and commitment to a healthy balance between a professional and personal life. We challenge you as an individual so you can make real contributions while you grow your capabilities.
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.
At PGIM, You Can!
What we offer you:
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.
If you need an accommodation to complete the application process, please email accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
Investment Management - Investment Operations
What You Will Do
The Fund Operations team is a unit within PGIM Private Capital responsible for the financial oversight and reporting of multiple credit fund strategies. Currently, the team is responsible for five mezzanine funds, two mezzanine energy funds and two Direct Lending fund complexes (and associated separate accounts). The investors in these strategies include affiliated subsidiaries of Prudential Financial, Inc. and unaffiliated institutional investors.
The Direct Lending strategy within PGIM Private Capital is responsible for originating, underwriting, and managing a portfolio of privately placed leveraged loans for middle market issuers ($10-100 million of EBITDA). Due to the strong performance of that track record coupled with growing transaction flow, PPC has recently closed on its second third-party fund, PGIM Senior Loan Opportunities II (PSLO II), bringing the Direct Lending fund strategy to $5.0bn in commitments. The Fund Operations Associate hired for this role will be expected to play an integral role in continuing to grow the strategy.
What You Can Expect
- Prepare financial statements and performance returns for Direct Lending investors, including intricate incentive fee and management fee calculations
- Assist in the preparation and review of investor communications, including capital activity and quarterly reporting
- Maintain accurate performance metrics that will be presented to PPC leadership for regular reporting and analysis updates
- Collaborate with the funds’ tax compliance providers and auditors to ensure that reporting deadlines are met
- Effectively manage monthly deliverables across various internal and external teams
- Proactively manage and complete ad hoc initiatives and projects
- Support Investor Relations during fundraising and new product exploration
- Communicate with investment companies, fund managers, service providers, and investors
- Join a global operations team by working with staff located in Chicago, Newark, and Ireland
- Minimum 3 years of accounting, audit, tax, fund administration, or operations experience in financial services
- Proven experience with financial statement preparation and accounting guidelines
- Previous exposure with Wall Street Office or Allvue (fka Black Mountain) is a plus
- Previous exposure with Direct Lending and private credit funds is a plus
- Strong presentation, written communication and interpersonal skills with exposure to all levels of management
- Superior analytical skills, accuracy and careful attention to detail are crucial
- Energetic person who brings positivity, geniality and optimism to work
- Critical thinking and problem-solving experience required
At PGIM Private Capital, expertise, analysis, and experience drive everything we do. We strategically target select global markets to offer unique deal flow to investors and prospective issuers. Our team is comprised of bright, focused professionals who collaborate at all levels to manage originations and a private debt portfolio across investment grade, high yield and mezzanine investments. We invest in the potential of our employees by offering them large-scope, small-team emphasis on collaboration, and commitment to a healthy balance between a professional and personal life. We challenge you as an individual so you can make real contributions while you grow your capabilities.
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.
At PGIM, You Can!
What we offer you:
- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.
If you need an accommodation to complete the application process, please email accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
Salary : $1,600
