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The Fund Operations team is a unit within PGIM Private Capital responsible for the financial oversight and reporting of multiple credit fund strategies. Currently, the team is responsible for five mezzanine funds, two mezzanine energy funds and two Direct Lending fund complexes (and associated separate accounts). The investors in these strategies include affiliated subsidiaries of Prudential Financial, Inc. and unaffiliated institutional investors.
The Direct Lending strategy within PGIM Private Capital is responsible for originating, underwriting, and managing a portfolio of privately placed leveraged loans for middle market issuers ($10-100 million of EBITDA). Due to the strong performance of that track record coupled with growing transaction flow, PPC has recently closed on its second third-party fund, PGIM Senior Loan Opportunities II (PSLO II), bringing the Direct Lending fund strategy to $5.0bn in commitments. The Fund Operations Associate hired for this role will be expected to play an integral role in continuing to grow the strategy.
What you can expect
- Prepare financial statements and performance returns for Direct Lending investors, including intricate incentive fee and management fee calculations
- Assist in the preparation and review of investor communications, including capital activity and quarterly reporting
- Maintain accurate performance metrics that will be presented to PPC leadership for regular reporting and analysis updates
- Collaborate with the funds’ tax compliance providers and auditors to ensure that reporting deadlines are met
- Effectively manage monthly deliverables across various internal and external teams
- Proactively manage and complete ad hoc initiatives and projects
- Support Investor Relations during fundraising and new product exploration
- Communicate with investment companies, fund managers, service providers, and investors
- Join a global operations team by working with staff located in Chicago, Newark, and Ireland
What you will bring
- Minimum 3 years of accounting, audit, tax, fund administration, or operations experience in financial services
- Proven experience with financial statement preparation and accounting guidelines
- Previous exposure with Wall Street Office or Allvue (fka Black Mountain) is a plus
- Previous exposure with Direct Lending and private credit funds is a plus
- Strong presentation, written communication and interpersonal skills with exposure to all levels of management
- Superior analytical skills, accuracy and careful attention to detail are crucial
- Energetic person who brings positivity, geniality and optimism to work
- Critical thinking and problem-solving experience required
Source: Prudential’s Career Page
