Associate Portfolio Manager

Founded in 1999, Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco, London and Hong Kong. With approximately $42 billion of assets under management and more than 475 employees, Audax is a leading capital partner for middle market companies, operating through three business lines: Audax Private Equity, Audax Private Debt, and Audax Strategic Capital.  For more information, visit the Audax Group website www.audaxgroup.com. [https://www.audaxgroup.com] or follow us on LinkedIn [https://www.linkedin.com/company/audaxgroup/posts/?feedView=all]. POSITION SUMMARY: Audax Private Equity deal team members are supported by professionals in several key functional areas including legal, capital markets, finance/accounting, sourcing, portfolio support, IT, and business development. Our model allows deal teams to focus their energy and resources on what matters most – building companies and building equity value for our investors. The Associate will play a key role in the Portfolio Valuation & Analytics team, which focuses on portfolio company valuations, portfolio company / fund level analytics, and investment benchmarking and reporting for the Private Equity business unit.  This individual will play a key role in the updating, reviewing, and maintaining of Private Equity investment valuations across multiple funds and strategies.   Additionally, the individual will work with other Portfolio Valuation & Analytics team members to maintain the integrity of Audax Private Equity portfolio company data within our portfolio monitoring system, Chronograph. Lastly, the role involves working collaboratively with internal Finance teams and developing reports and analyses to support decision making across the Firm.  The ideal candidate is a self-motivated team player with strong technical skills and has experience with private company valuations and preferably Chronograph. RESPONSIBILITIES:  Quarterly Valuation & Portfolio Review * Prepare valuation models for quarterly update process and co-ordinate with investment team members to ensure deadlines are achieved and models function as intended. * Ensure all completed valuation models adhere to relevant accounting standards as well as internal policies and procedures.  * Assist in creation and updating of quarterly Valuation Committee presentation materials including details on portfolio company metrics, fund performance analyses and benchmarking analyses. * Update and maintain quarterly valuation summaries as required by co-investors.  * Work in conjunction with the portfolio support team to update presentation materials for internal portfolio reviews, including industry specific analyses. * Stay up-to-date with industry best practices, market trends and regulatory changes affecting investments. Maintenance of private equity portfolio company databases * Maintain and ensure integrity of all portfolio company and fund level metrics stored within Chronograph, Audax’s portfolio monitoring platform.   * Understand functionality of Chronograph and provide support to other users within the firm. * Work directly with portfolio company management teams as well as investment team members to collect relevant company metrics and materials and review for correctness.  * Co-ordinate with Business Development and Analytics team members to confirm consistency of data across different internal platforms and databases. Process re-engineering and automation to promote efficiency and accuracy  * Execute operational improvements. Coordinate with portfolio support team, finance, and IT to refine centralized databases and business intelligence processes to improve quality and control of data for reporting and analysis. * Document work streams and offer recommendations on efficiency.  REQUIREMENTS/QUALIFICATIONS: * BS or BA with a high GPA in Finance, Accounting, Economics or a related major * 3-5 years' experience in an analytical role including work with integrated financial statement models, valuation experience preferred   * Understanding of investments, LBO / M&A transactions and private company valuations * Strong organizational skills with the ability to multitask * Strong interpersonal and communication skills * Experience with Chronograph, iLevel, Dynamo, PowerBI, Capital IQ and / or investment analytics software a plus The candidate should be advanced in Excel and PowerPoint, specifically in the following areas: * Complex logic formulas and advanced combinations of lookup functions * Financial and performance functions (e.g. xirr) * Macros, filters, data tables and pivot tables * Strong PowerPoint presentation skills with attention to detail and ability to summarize complex ideas to various audiences  LOCATION: Boston, MA. 3 days/week in office. These in office requirements may change based on the needs of the business. OTHER DUTIES:   For Massachusetts: The base salary range for this position is $80,000 - $115,000. The base salary range represents the estimated low and high end for this position at the time of this posting. Consistent with applicable law, compensation may vary and will be determined based on but not limited to, the skills, qualifications, and experience of the applicant along with the requirements of the position, and Audax reserves the right to modify this pay range at any time. An employee may also be eligible for annual discretionary incentive compensation based on performance.  Audax offers a wide range of employee benefits, including health insurance, life insurance, disability insurance, paid time off (including sick leave, parental leave, volunteer leave, and vacation), charitable donation match, family support services (including Bright Horizons and Benefit Advocate Center), and a 401(k) in addition to other benefits.     This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.  Audax Management Co. is an equal opportunity employer. Please note that Audax Group and its affiliated entities do not accept unsolicited resumes from a third-party recruiting agency not currently under a signed agreement. Any unsolicited resume that is sent to directly to Audax Group or one of its affiliated entities, or its employees, including those submitted to hiring managers by a third-party recruiting agency not currently under a signed agreement, will be considered property of Audax Group. If a third-party recruiting agency submits a resume without an agreement, Audax Group or its affiliated entities explicitly reserves the right to pursue and hire those candidate(s) without any financial obligation to the third-party recruiting agency. Any third-party recruiting agency should contact either a member of the Talent Acquisition or Human Resource team at Audax Group, in conjunction with a valid, fully executed contract for service based upon a specific job opening.

Pemberton Asset Management is a leading European private credit manager. Built on more than a decade of experience and deep credit expertise, we provide innovative, cycle-tested private credit solutions for LPs and GPs. Pemberton’s extensive origination network of ten European offices, local market and sector expertise are core characteristics of Pemberton’s value proposition. A substantial investment team, a broad and independent credit function and rigorous credit analysis inform our investment approach. We are committed to advancing responsible investing in private credit and fostering long-term value through transparent partnerships. Pemberton manages USD $28.8bn in AuM and employs more than 200+ staff globally. (*As of 30th September 2025. Defined as capital committed since inception) Further information is available at www.pembertonam.com. Follow Pemberton on LinkedIn here. Role Relationships: Reporting to Managing Director, Head of Product Strategy & Development Key Stakeholders the role will interact with: * Portfolio Managers * Business Development * Investor Relations * All groups across Central Functions (Finance, Compliance, Legal etc) Role Responsibilities: The Associate is responsible for structuring and executing a wide range of structured finance offerings (both private and public) including asset-backed financings, direct lending CLOs, securitized funds and leveraged continuation funds —offering institutional clients efficient, regulatory-optimized access to Pemberton Investment Strategies. The role incorporates advanced cash flow modeling of underlying portfolios and strategies, in-depth analysis of fee and cost economics, preparation of marketing and governance materials, participation in new product processes, and regular interaction with rating agencies and institutional investors. CLO Structuring * Structure and model CLOs and asset-backed warehouse/term facilities, optimizing for tranche sizing, waterfalls, collateral rules, and credit risk * Model portfolio cash flows under various investment scenarios, integrating expected asset returns, loss/gain cases, prepayment assumptions, and stress analysis. * Drive deal execution with support from legal, compliance, and operations teams. * Lead data submissions and manage iterative feedback processes with rating agencies. Asset Financing * Model leveraged funds and the use of various financing facilities to optimise return * Evaluate sensitivities based on loan covenants * Analyse fee and cost economics for each structure, including layered fees (fund/asset management, structuring, servicing, administrative), and their projected impact on investor returns and deal cash flows * Draft and iterate term sheets detailing economic terms, waterfall provisions, fee structures, and reporting mechanics. * Drive deal execution with support from legal, compliance, and operations teams Credit Continuation Funds * Support analytics for Pemberton Continuation Funds including preparation of investor materials * Lead investor analytical workstreams Fund Securitisation and Rated Feeder Structuring * Structure and model CFs, rated feeders and other securitised fund structures using CLO/securitisation experience Investor Marketing & Communication * Prepare technical, data-driven marketing materials, including transaction overviews, fee and economics workups, illustrative cash flow outputs, pitch decks, and detailed investor Q&A. * Articulate investment structure, economic rationale, gross-to-net return expectations, and comparative benchmarking of costs and fees versus market alternatives. * Support sales/distribution with tailored materials for investor diligence and roadshows. New Product Committee & Internal Governance * Present new bespoke products (notes, wrappers, other vehicles) at New Product Committees - detailing full economic structure, scenario/fee modelling outputs, and compliance review. Buy-Side & Portfolio Advisory * Advise Pemberton portfolio teams and institutional clients on structure mechanics, cash flow drivers, expected net yields, and impact of cost frameworks on investor outcomes. * Prepare robust investment and risk memoranda—including net return drivers and downside/worst-case analytics—for internal committees and client reporting. Compliance and ESG Responsibilities: In performing regulated and unregulated activities for the firm the Associate, Product Strategy & Development, will follow the Individual Conduct rules: * Act with integrity. * Act with due care, skill and diligence. * Open and cooperative with the FCA, the PRA and other regulators. * Pay due regard to the interests of customers and treat them fairly. * Observe proper standards of market conduct. * Ensure all Investment Development activity takes into consideration ESG factors to maximise corporate sustainability and support the firm’s diversity and inclusion objectives. Work Experience & Qualifications: As a Product Strategy & Development Associate, the skills and competencies you will need are: * 3+ years' experience in structured credit, CLO/ABS structuring, or capital solutions, or Investment Banking / M&A with a focus on cash flow and fee modelling. * Demonstrated proficiency in portfolio cash flow modelling (Excel, Intex, or similar) across multiple investment scenarios. * Strong analytical skills with experience modelling layered fee structures and quantifying their impact on net investor economics. * Proficient in preparing investor presentations and writing internal risk papers * Experience drafting term sheets, fee overviews, and technical marketing materials for institutional investors. * Bachelor’s degree in Finance, Economics, Mathematics, Engineering, Physics, Chemistry or related. * Focus on learning and developing knowledge regarding securitisation / structured finance / financing / rated transactions including different investment structures across a wide range of asset classes and investor requirements. * Learn and develop knowledge relating to key regulatory regimes for banking and insurance sector. * Ability to support seniors to successfully execute complex transactions across a wide variety of asset classes across multiple jurisdictions. Key Qualities: * Curious and commercially minded, with the ability to understand investor objectives and translate them into practical structuring solutions. * Demonstrates end-to-end thinking: capable of taking an idea from concept through financial modelling, preparing clear and compelling investor presentations, and supporting the transition into legal documentation. * Strong communication skills, able to articulate complex concepts to both technical and non-technical audiences. * Highly organised with strong time management skills: able to work independently and prioritise effectively in a fast-paced environment. * Professional approach to handling confidential and sensitive information. * Collaborative and team-oriented, with a willingness to support colleagues during periods of high workload. Culture (Supporting, Growing, Thriving): At Pemberton, we foster a culture where people can support each other, grow together and thrive as a team. We are innovative and entrepreneurial, always seeking new ways to deliver value for our clients while maintaining a high-performing and client-focused mindset. Collaboration is at the heart of what we do, underpinned by a respectful and supportive environment that encourages open dialogue and shared success. Our commitment to excellence is matched by our dedication to helping every individual develop their skills and achieve their potential, ensuring that both our people and our business continue to flourish. The duties and responsibilities described here are not exhaustive; additional assignments may be required. Duties and responsibilities may be changed at any time, with or without notice, at Pemberton’s sole discretion. Pemberton is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, colour, religion or belief, sex, gender, gender identity or expression, sexual orientation, age, disability, national origin, ancestry, citizenship status, marital or civil partnership status, pregnancy or maternity, veteran or military status, genetic information, or any other characteristic protected by applicable law. We value diversity and are dedicated to creating an inclusive environment for all employees. This policy applies to all terms and conditions of employment, including recruitment, hiring, placement, promotion, transfer, termination, compensation, benefits, training, and development. Pemberton is also committed to making reasonable adjustments to accommodate the needs of disabled employees and applicants. All employees, managers, and those involved in recruitment or employment decisions are required to comply with this policy. If you need a reasonable accommodation to complete your application, please contact People and Performance at careers@pembertonam.com Depending on the position, you may be required to obtain certain regulatory licenses/certification if you are in a client facing role and/or if you are engaged in the following non exhaustive list: * Attending client meetings where you are discussing products and/or and client questions; and * Marketing funds to clients. Note: Please speak with your Pemberton Recruiting contact with any questions. To submit your application please complete the application form via 'Apply for this Job' below. Fields marked with a red asterisk * must be completed to be considered for employment (although some can be answered "prefer not to say"). Failure to provide this information may compromise the follow-up of your application. When you have finished click 'Submit Application' at the bottom of the application form.