Job Description
Ares is a leading participant in the global alternative credit markets with approximately $36.0 billion of assets under management (“AUM”) invested across multiple, actively-managed funds as of December 31, 2023. Of this AUM, the Alt Credit Team manages over $15.1 billion of dedicated capital on behalf of insurers including Aspida, our indirect insurance subsidiary. The Alt Credit Team today comprises approximately 70 investment professionals located primarily in three Ares offices: New York City, Atlanta and London.
Ares’ Alt Credit platform employs strategies that are asset-focused, making investments backed by assets and contractual cash flows such as loans, leases and receivables. Alt Credit fills gaps in the capital markets between credit, private equity and real estate, investing across a spectrum of liquid and illiquid opportunities that include various specialty finance sectors, net leases, structured products, cash flow streams (e.g., royalties, licensing, management fees), and other asset types.
Ares is seeking a Principal/Managing Director to join our Alternative Credit Group in the New York office (in-person), focused on investing in primarily private, asset-backed debt for insurance company balance sheets. These mandates focus on delivering excess return, current yield and attractive capital treatment for insurance clients with a focus on privately-originated opportunities. The qualified candidate will have significant experience in structuring asset-backed transactions for insurance balance sheets, with deep expertise in the considerations of regulatory capital charges and balance sheet accounting treatment for US (and, ideally, also European) insurance companies. The candidate will have a proven track record of executing transaction structures ranging from lending facilities, forward-flow arrangements and whole-loan investments. The candidate will have a proven track record in sourcing, structuring, and underwriting asset-backed transactions across a range of consumer and commercial assets, and in working with rating agency analysts to achieve desired ratings. Strong relationships with specialty-finance companies are expected. Participation in client relationship management through analysis, advice, market updates and idea generation is also expected.
Primary functions and responsibilities:
Qualifications:
Reporting Relationships
Partner, Portfolio Manager and Co-Head of Alternative Credit
Compensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
$285,000.00 - $300,000.00
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.
Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.
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