Managing Director

Managing Director - Private Credit (Underwriting, Portfolio Management & Workouts)

Location : Boston, MA

Reports To : Head of Underwriting & Portfolio

Position Overview

We are seeking an experienced Managing Director to lead underwriting, portfolio management, and workout / restructuring activities across our private credit platform. The ideal candidate brings a deep background in cash flow and asset-based lending, complemented by hands‑on experience in special situations, stressed, and distressed credit investing. This senior role focuses on rigorous credit, active portfolio oversight, and capital preservation / recovery strategies. The candidate will work closely within the investment / risk team to ensure disciplined underwriting, effective portfolio governance, and value realization across both performing and non‑performing investments.

Key Responsibilities

Underwriting & Execution

Lead detailed credit due diligence and underwriting for new investment opportunities.

Evaluate company fundamentals, cash flow drivers, leverage capacity, collateral coverage, and downside protection.

Build and review detailed financial models, sensitivity analyses, and recovery scenarios.

Collaborate with legal counsel to negotiate credit agreements, security documentation, and intercreditor arrangements.

Draft and present investment committee memoranda, outlining investment thesis, key risks, mitigants, structural protections, and expected returns.

Portfolio & Risk Management

Oversee an assigned portfolio of credit investments, monitoring borrower performance, covenant compliance, and collateral trends.

Maintain up-to-date internal credit ratings, watchlists, and exposure tracking.

Conduct regular portfolio reviews and assist with periodic valuations and investor reporting.

Identify early warning signs of performance deterioration and implement proactive risk mitigation strategies.

Workouts, Restructurings & Special Situations

Lead the workout and restructuring processes for underperforming or distressed investments.

Develop and execute recovery strategies including amendments, recapitalizations, restructurings, or debt‑to‑equity conversions.

Coordinate with external restructuring advisors, turnaround consultants, legal counsel, and CROs to maximize recoveries.

Evaluate secondary market opportunities, distressed exchanges, and opportunistic rescue financings.

Support special situations transactions such as bridge loans, DIP financings, or structured capital solutions.

Strategic Contribution & Leadership

Provide subject matter expertise on credit risk, restructuring dynamics, and market trends to inform investment decisions.

Assist group head in mentoring and developing junior professionals in credit underwriting and distressed investing techniques.

Collaborate across teams to continuously refine underwriting and workout frameworks.

Qualifications

15 to 20 years of experience in private credit, direct lending, special situations, or distressed investing.

Demonstrated expertise in cash flow and asset‑based lending, and legal documentation.

Proven track record managing workouts, restructurings, and recovery processes within a private credit or fund environment.

Deep understanding of credit documentation, intercreditor agreements, and restructuring mechanics (Chapter 11, Article 9, etc.).

Strong financial modeling, valuation, and scenario analysis skills.

Bachelor’s degree in finance, accounting, or economics; MBA, CFA, or CPA preferred.

Personal Attributes

Critical thinker with sound judgment and disciplined risk awareness.

Calm, strategic, and decisive under pressure, with a hands‑on approach to problem solving.

Excellent negotiation, communication, and presentation skills.

Team‑oriented, collaborative, and comfortable working in a fast‑paced investment environment.

Compensation

Competitive base salary, annual performance bonus.

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