Managing Director, Private Credit
New Island Capital Management LLC (NICM) is an impact investment advisor, operating a substantial, institutional-scale, 100% impact-focused portfolio. Based in San Francisco, NICM utilizes a patient, disciplined approach in deploying capital – at scale – to generate risk-adjusted financial returns across multiple asset classes, while simultaneously delivering positive social and environmental outcomes. NICM seeks direct relationships with entrepreneurs and communities globally to support the natural emergence of a new paradigm in sectors such as health & wellness, sustainable agriculture, environmental protection, renewable energy, and sustainable communities.
This is a compelling opportunity for an inventive dealmaker to build and manage a broad and diverse portfolio, and to further build a team around the creative deployment of capital to mission-aligned businesses. As a member of the Senior Leadership Team, this person will also play a company-wide leadership role, fostering an impact-oriented culture among a team of ambitious changemakers. The Private Credit team is collaborative, nimble and hands-on, expecting the Managing Director’s leadership and expertise across the full deal cycle. The Private Credit portfolio itself encompasses a wide variety of loan types and risk profiles across a global and diverse spectrum of industries.
NICM’s lending approach is characterized by innovation, creativity, and flexibility, with an opportunity to create highly customized and tailored solutions. The Managing Director will work closely with borrowers to design financial solutions unique to their situations, addressing risk in imaginative ways; as such, this role places a premium on deep borrower relationships, rigorous underwriting and quantitative analysis, and an adaptable solutions-oriented mindset. Within the portfolio, the Managing Director will find broad latitude to shape strategy, develop deal sourcing networks, and negotiate the best transactions possible, and will enjoy a highly deliberative decision-making process with New Island’s investment committee.
- Mentor and lead a high achieving team across ALL aspects of the deal cycle, including: strategy/positioning, deal sourcing, diligence, structuring, synthesizing/recommending, post-investment management, restructuring and workouts
- Grow and manage a diverse private credit portfolio:
- Lending is across industries, global (currently mostly within North America, Latin America, Africa and Europe), multi-currency, and across a range of risk/return profiles
- Key industries include: food & agriculture, renewable energy/energy access, economic development, education, sustainable transportation, and financial intermediaries
- Loan types include: corporate/business, receivables/inventory, revolving facilities, warehouse loans, subordinated debt, real estate debt, other asset financings, loans to intermediaries, and other cash flow-based and/or collateralized instruments
- Quickly learn new industries, conduct business analysis, and structure deals creatively so as to both achieve social and environmental change and generate appropriate financial returns
- Develop and maintain deep relationships with borrowers and communicate frequently with a multitude of stakeholders
- Mitigate risks via fundamental business due diligence, loan structuring based on diligence insights, and high-touch borrower relationships
- Advance transactions through New Island’s investment committee process
- Minimum of eight years of direct lending/credit analysis experience and/or experience evaluating and comparing non-investment grade securities
- Full deal cycle experience, including negotiating deals and managing loans post-closing
- Strong quantitative, analytical, and underwriting background
- Comfortable working in a dynamic, entrepreneurial environment without the analytical support or infrastructure generally available in larger organizations
- Experience operating in international and emerging market contexts preferred
- Candidates must demonstrate the potential to be creative, flexible, resourceful, and disciplined in supporting a complex mission-driven investment program
- Excellent oral and written communication skills
- M.B.A. or graduate degree in finance preferred, but may be substituted with equivalent experience
- Most importantly, the successful candidate will have the highest standards of personal and professional ethics and integrity, as well as a strong work ethic and “team player” mentality
- A Bachelor’s degree from an accredited four-year college or university is required, ideally with major course work in finance, economics, public policy or environmental studies.
- An advanced degree in business, finance or equivalent professional qualifications demonstrating impact investment knowledge is highly preferred.
Compensation will be competitive and commensurate with experience.