GSO - Performing Credit, Associate
Job Description: Employer:
Blackstone Firm Overview:
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $554 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone. Business Unit:
GSO Capital Partners LP Business Unit Overview:
GSO Capital Partners LP is the global credit investment platform of Blackstone. Our credit segment, which consists principally of GSO, has approximately $142 billion of assets under management. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies. Job Title:
Associate Job Description:
This is a dedicated group within GSO's Direct Lending Strategy that is primarily focused on opportunities arising from pricing inefficiencies in primary and secondary markets resulting from overreactions and/or technical pressures rather than fundamental drivers. The group takes a proactive, creative, and opportunistic approach to idea generation and sourcing, utilizes rigorous credit selection based on bottoms-up fundamental research, and actively manages the portfolio to capture outsized returns. Common investments include providing anchors for dislocated primary syndications, secondary market investments for over-penalized first and second lien loans, and bespoke private solutions in syndicated structures. Opportunities will exist to analyze investments across the capital structure; however, the primary focus is on senior debt.
Candidates will gain exposure to a wide range of industries and investment structures. As a result of the breadth of the experience, candidates will develop a unique understanding of companies, capital structures, and credit markets. The group collaborates with GSO's Liquid Credit Strategies ("LCS") team and leverages existing coverage of over 1,200 names to identify opportunities that fit this higher yielding strategy. This candidate will primarily work with the group's small investment team and GSO's Performing Credit team; however, there will be significant exposure to cross functional teams within GSO and Blackstone. Responsibilities:
Responsibilities will include assisting with the identification of public and private investment opportunities, investment financial analysis, fundamental due diligence, industry research, competitive analysis, analyzing legal documentation, assisting with trading strategies for public investments and drafting memoranda for internal use. Further, the candidate will support portfolio management activities including monitoring of private and public positions on a quarterly basis, maintaining watch lists, and liaising with GSO's operations and compliance teams on certain projects. In addition, candidates will be expected to participate in investment committee discussions and there will be meaningful interaction with management teams, financial sponsors, outside legal counsel, intermediaries/advisors, as well as sell-side and buy-side analysts. The small size of the investment team and the extent of deal flow afford lean staffing and significant responsibility sharing. Qualifications:
GSO is seeking an individual with relevant work experience who is self-motivated, proactive, and demonstrates strong interpersonal and communication skills. In addition to strong qualitative and quantitative skills, the successful candidate should have:
• 3-6 years of relevant credit investing, restructuring, or leveraged finance underwriting experience
• An understanding of credit, leveraged finance markets, and experience analyzing credit agreements
• Experience in analyzing financial statements and conducting fundamental and industry due diligence
• Deep knowledge of accounting and finance
• Exceptionally strong financial modeling skills
• Strong organizational and process management skills
• Sound intuition and business judgment
• A demonstrated strong work ethic and desire to work in a collaborative, small team environment
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, disability, sexual orientation, national origin or any other category protected by law
If you need a reasonable accommodation to complete your application, please contact Human Resources at 212-583-5000 (US), +44 (0)20 7451 4000 (EMEA) or +852 3656 8600 (APAC).
The Blackstone Group and its affiliates provide equal employment opportunity to all qualified employees and applicants for employment regardless of race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other classification prohibited by applicable law.
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