Private Credit Workout/Restructuring - Principal
Kohlberg Kravis Roberts
KKR & Co. Inc., together with its subsidiaries, is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group.
KKR’s Private Corporate Credit investment team is comprised of approximately 70 dedicated professionals globally, 30 of which are based in the U.S. Since 2017, the Private Corporate Credit team has evaluated more than 8,500 investments and has closed more than $55 billion in financings. The firm’s wide sourcing abilities, rigorous investment process and active portfolio management have allowed KKR to produce compelling returns across its funds.
In 2017, a Global Workout & Governance team was founded to advise and partner with the Private Credit team. This team’s goals are to 1) identify credit problems early, 2) focus on risk reduction and preservation of capital, 3) turnaround underperforming companies and 4) establish/optimize the ultimate path to exit.
The Workout & Governance team is seeking a Principal to partner with the origination team on workouts/restructurings within the Private Credit portfolio. The role will provide the Principal with significant opportunities for direct interaction with senior leadership and portfolio company executives and will offer high visibility both internally and externally.
The ideal candidate will bring 5-9 years of relevant experience in financial restructuring at an investment bank or similar. They will have a proven track record of successfully leading and executing complex restructuring transactions. They will have strong financial modeling skills, communication skills, and an in-depth knowledge of bankruptcy proceedings, legal frameworks, and distressed debt markets.
- Execute complex financial restructuring transactions, including distressed debt investments, bankruptcy proceedings, and out-of-court workouts
- Develop and implement comprehensive restructuring plans to optimize value for the firm and its investors
- Conduct thorough financial analysis and due diligence on distressed assets and potential investment opportunities
- Assess legal, operational, and market risks associated with distressed companies
- Collaborate with internal teams, external advisors, and legal counsel to formulate and execute restructuring strategies
- Build and maintain relationships with key stakeholders, including creditors, debtors and other relevant parties
- Create and analyze complex financial models to assess the impact of various restructuring scenarios
- Evaluate potential exit strategies and recovery outcomes for distressed investments
- Identify and mitigate potential risks associated with restructuring transactions
- Monitor and assess market trends, regulatory changes, and macroeconomic factors impacting distressed debt investments
- Review legal documents and negotiate in consultation with internal and external legal teams
- Manage recovery efforts in accordance with workout plans
- Communicate with management teams and financial advisors in connection with strategy, budgeting, forecasting, and financial performance to understand key trends and drivers of portfolio companies
- Draft and present Investment Committee memos to senior leadership
CRITICAL COMPETENCIES FOR SUCCESS
- Proven ability to manage demands of multiple teams and projects in a fast-paced work environment, including ability to prioritize time efficiently and handle heavy workloads while remaining attentive to detail
- Ability to own and drive complex projects, and to execute successfully
- Outstanding oral and written communication skills, including the ability to engage with senior management
- Ability to collaborate across Business function seamlessly and effectively, in a way that reflects the firm’s core values and principles (collaboration, commitment to excellence, respectful)
- Strong relationship development skills, including remotely, with global teams and with individuals of whom work is being requested
- Strong commercial and strategic capability and instincts
- Meticulous organization skills with an emphasis on attention to detail
- Technical and aesthetic mastery of both PowerPoint and Excel
- High level of intellectual curiosity, accountability, and drive; self-motivated with the ability to work autonomously
- Superior degree of integrity
KKR is an equal opportunity employer. Individuals seeking employment are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, or any other category protected by applicable law.