Associate, Portfolio Monitoring (Direct Lending)

About Permira

Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds across two core asset classes, private equity and credit, with total committed capital of approximately €89bn. The Permira private equity funds make both buyout and growth equity investments in four key sectors: Technology, Consumer, Healthcare and Services. The Permira credit funds support businesses with flexible financing solutions across Direct Lending, Strategic Opportunities and CLO Management. Established in 2007, the firm advises investment funds and products which have provided approximately €25 billion of debt capital to over 300 businesses.

Permira Credit is seeking to recruit an Associate to join its Portfolio Monitoring team focused on Direct Lending in Madrid.  This is a highly analytical role sitting at the intersection of portfolio management, credit analysis and fund management. The successful candidate will build and maintain sophisticated portfolio and fund-level models while using those outputs to support portfolio monitoring, valuation, risk management and investment decision-making across the direct lending platform.

The role will also play a key part in the aggregation, validation and analysis of asset and fund-level data. The successful candidate will be responsible for validating, transforming and aggregating data from multiple sources into a standardised format, and producing meaningful reports and analytical outputs.

Key Responsibilities

• Building, maintaining and enhancing detailed fund-level models, including distribution waterfall, cash flow, leverage and return (IRR / MOIC) models across the direct lending funds
• Undertaking detailed financial and credit analysis to monitor the performance of assets within the funds, including covenant compliance, liquidity, leverage, and refinancing risk
• Running scenario, sensitivity and stress-testing analyses at both the asset and fund level to support portfolio construction and investment decisions
• Aggregating, validating and reconciling portfolio, borrower and fund-level data from multiple internal and external sources to produce portfolio analytics, management information, reports and datasheets for internal and external stakeholders
• Supporting the monitoring, modelling and management of fund leverage facilities
• Undertaking deployment and pipeline analysis to assess the impact on portfolio construction and fund returns
• Maintaining and improving the suite of monitoring models and tools, including automation and version control to ensure model integrity and rigorous validation of the underlying data
• Responding to ad hoc requests for information from the investor relations team
• Creating relevant reports, dashboards and analyses for internal and external use cases
• Preparing ad hoc presentations in PowerPoint
• Any other duties as required from time to time

Qualifications Required

• Academic background  in a numerate discipline such as Economics, Finance, Mathematics, Statistics, Engineering, Physics, Computer Science or a related field
• A postgraduate degree in a quantitative or financial discipline is an advantage
• Progress towards, or completion of, the CFA / ACA / CIMA is an advantage but not a prerequisite

Experience Required

• A minimum of 3 years’ relevant work experience within a financial services firm, ideally within investment management, investment banking, private credit / leveraged finance, or a top-tier advisory boutique
• Demonstrable experience building and maintaining complex financial models from first principles – including LBO, leveraged credit and / or fund-level models
• Experience in leveraged finance, private credit, or corporate finance is an advantage

Essential Skills and Characteristics

• Exceptional financial modelling skills, with the ability to build, audit and stress-test complex LBO, leveraged credit and fund-level models in Excel from first principles
• Advanced Excel skills are essential; knowledge of VBA, Python (or another programming language) and Power BI is a distinct advantage
• Strong understanding of leveraged finance, credit and private markets, including capital structures, debt instruments and fund economics (e.g. distribution waterfalls, IRR / MOIC)
• Excellent written and verbal communication skills – fluent written and spoken English
• A keen interest in business and, in particular, the dynamics of private credit and leveraged finance
• Exceptional attention to detail and a rigorous, analytical mindset
• Team focused and good at quickly building relationships with colleagues across the organisation
• Effective planning and organisation skills; ability to prioritise tasks and deliver to deadlines
• Self-starter with a high level of motivation, integrity, energy and enthusiasm
• Ability to multi-task with excellent time management skills and a strong stakeholder focus
• Inquisitive mindset with an eagerness to learn and make improvements
• Resilient and willing to work to tight deadlines and under pressure

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