Vice President, Asset Backed Finance (IG)
Oaktree Capital · New York, United States · 18d ago
Our Company
As a part of Brookfield’s $416B credit platform, Oaktree is a premier credit manager emphasizing an opportunistic, value-oriented, and risk-controlled approach to investing across credit, equity, and real estate.
Oaktree is committed to cultivating an environment that is collaborative, curious, inclusive and honors diversity of thought. Providing training and career development opportunities and emphasizing strong support for our local communities through philanthropic initiatives are essential to our culture.
Oaktree is wholly owned by Brookfield, a leading global investment firm with more than $1 trillion in assets under management. Brookfield owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. It invests on behalf of institutions and individuals around the world across infrastructure, renewable power and transition, private equity, real estate, and credit.
For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/
The Oaktree ABF strategy:
Oaktree Asset Backed Finance (“ABF”) is a step-out strategy which invests in pools of contractual assets, such as loans, leases, receivables, mortgages and licensing agreements, which may or may not reference property or other hard assets. Asset categories include corporate, consumer, real estate, transportation, equipment, infrastructure, energy, intellectual property and other esoteric types. On behalf of ABF funds and clients, Oaktree
Purchases, or commits to purchase, assets, with or without leverage
Lends, or commits to lend, secured by assets, in a senior or mezzanine position
Insures, or provides capital relief against, assets
Provides essential capital to a business primarily engaged in the origination and servicing of assets
While Oaktree has significant experience successfully investing client capital in ABF opportunities as a sub-allocation to existing funds, Oaktree ABF represents Oaktree’s first client offering dedicated to ABF. Based on the expanding ABF opportunity set and client demand both in unrated ABF and formally rated investment grade ABF (IG ABF), Oaktree ABF is expected to grow significantly. Oaktree judges the ABF Strategy’s success and value by outcomes delivered to clients, consistent with or exceeding expectations, over the medium and long term.
Overview of Role & Qualifications:
The Vice President will be our team’s first IG focused ABF hire and will be primarily responsible for structuring IG ABF investments and working with other members of the ABF group, contributing to all phases of the investment process, from sourcing, through decision points, to investment realization.
Primary responsibilities:
Multi-party coordination:
Identify business objectives, constraints and preferences of various stakeholders, including originators, insurance clients, rating agencies and non-insurance capital providers.
Design financing arrangements which are both capital efficient for insurers and acceptable to all stakeholders.
Credibly manage stakeholder buy-in, structuring and modeling, rating outcome and transaction execution.
Recognizing that Oaktree sources opportunities and leads through a variety of internal and external channels, the ABF Vice President will follow up on introductions and inquiries of potential relevance to the ABF strategy, identify the situations where an investment can be rated and work with the investment teams to negotiate appropriate terms.
Work with rating agencies and financing counterparties on rated asset-backed lending facilities, including warehouse facilities and term-out structures for existing or ramping pools of contractual cash-flowing assets.
Help guide IG ABF product development and develop creative, capital-efficient solutions for insurance-company balance sheets, considering the constraints of insurance capital, including, but not limited to, NAIC rating requirements or equivalent non-US and EU frameworks.
For those opportunities determined to be potentially attractive for Oaktree funds and suitable for rating and clients, lead or participate in diligence, negotiation of terms and documentation, building models and preparing investment memoranda for consideration by the ABF investment committee.
Train and supervise associates and analysts on the ABF team. Train and educate the ABF investment team on rating and structuring techniques.
Gain familiarity with Oaktree’s various pools of capital available for ABF investments, including the constraints imposed by fund investment guidelines, capital considerations, regulators, rating agencies and Oaktree’s internal policies and procedures.
Experience required:
6-10 years relevant experience within asset finance or structuring at an investment bank or investing across securitized collateral types at an investment manager.
Facility with Excel and PowerPoint, commensurate with years of experience.
Strong experience reviewing financial agreements for relevant business points and to find answers to specific questions.
Knowledge of fixed income fundamentals, asset backed finance and securitization, commensurate with years of experience.
Experience executing private asset-backed investments (without relying on an arranging bank to structure the investment).
Experience working with rating agencies and leading processes to rate ABS securities or other asset backed investments.
Knowledge of rating methodologies for or ability to get up to speed quickly across various sectors.
Experience with CFO rating methodologies, rated feeders, NAV and ABL financing, preferred, but not required.
Experience with insurance companies and capital efficiency considerations for insurance balance sheets.
Familiarity with insurance capital, NAIC rating requirements or equivalent US and EU insurance-capital frameworks, including running processes to optimize ABS and ABF investments for insurance balance sheet investments.
Experience with rated warehouse facilities preferred, but not required.
Attributes:
Clever, intellectually curious, creative, resourceful, enjoys solving problems and going through novel, complex situations, quick study
Driven, productive, responsible, detail oriented, organized
Team oriented with high integrity.
Professional, relationship-oriented and a strong communicator in a variety of formats with a broad range of internal and external constituents. Collaborative partner across investment teams and counterparties.
Effective teacher and student. Enjoys sharing knowledge and educating team members.
Education:
Bachelor’s Degree from a top university
Base Salary Range
$225,000 - $275,000
In addition to a competitive base salary, you will be eligible to receive discretionary bonus incentives, a comprehensive benefits package and a flexible work arrangement. The base salary offered will be commensurate with experience and/or qualifications, industry knowledge and expertise, as well as prior training and education.
Equal Opportunity Employment Policy
Oaktree is committed to diversity and to equal opportunity employment. Oaktree does not make employment decisions on the basis of race, creed, color, ethnicity, national origin, citizenship, religion, sex, sexual orientation, gender identity, gender expression, age, past or present physical or mental disability, HIV status, medical condition as defined by state law (genetic characteristics or cancer), pregnancy, childbirth and related medical conditions, veteran status, military service, marital status, familial status, genetic information, domestic violence victim status or any other classification protected by applicable federal, state and local laws and ordinances. This policy applies to hiring, placement, internal promotions, training, opportunities for advancement, recruitment advertising, transfers, demotions, layoffs, terminations, recruitment advertising, rates of pay and other forms of compensation and all other terms, conditions and privileges of employment. This policy applies to all Oaktree applicants, employees, clients, and contractors. Staff members wishing to report violations or suspected violations of this policy should contact the head of their department or Human Resources.
For positions based in Los Angeles
For those applying for a position in the city of Los Angeles, the firm will consider for employment qualified applicants with a criminal history in a manner consistent with applicable federal, state and local law.