Associate Funds Finance
Role Description
Based in Luxembourg, as part of the Financial Institutions Group, Fund Finance (‘FF’) is responsible for the origination and execution of new lending transactions to European funds as well as the portfolio management of existing facilities. Our clients consist of unlisted private equity, debt, real estate, and infrastructure funds managed by leading financial sponsors and listed funds managed by large institutional asset management firms.
FF is a leading European funds finance team, operating from Luxembourg and London, which has experienced significant growth over the last five years. As a result, the Luxembourg team is now seeking to recruit an Associate is a newly created role. This is an exciting opportunity within Fund Finance where the successful candidate will have primary responsibilities for origination, execution and portfolio management.
Core Tasks & Material Responsibilities
Structuring
- General duties relating to the origination of subscription finance and portfolio leverage (NAV-based) lending transactions
- Identifying funds finance transaction opportunities and conducting general market research
- Attending client meetings and industry events, and preparing marketing/research materials
- Working with ING’s coverage, financial markets and other lending teams to coordinate an effective approach to client interaction
- Reviewing and analysing fund documentation, structures and investment portfolios to consider lending opportunities
- Completion and negotiation of term sheets, RfPs and other pitching documents
Credit
- Structuring of subscription finance and portfolio leverage (NAV-based) lending transactions
- Preparation of credit proposals for new and existing transactions
- Working with ING Risk to seek approval for transactions and to discuss new deals
- Reviewing and monitoring receipt of client reporting information
- Responsibility for ensuring that limits and investor exposures are correctly booked in ING’s loan systems and reflected in other FF records on closing of new transactions
- Ad-hoc tasks relating to internal audits and requests for information/analysis from Management
Execution
- Reviewing, negotiating and commenting on legal documentation for FF’s transactions, including loan agreements, intercreditors, ancillary documents and ISDAs/CSAs
- Liaising with both internal and external counsel to negotiate ING’s preferred policy and credit positions and obtaining appropriate legal sign-offs when required
- Working with syndicate banks, both where ING is Agent or participant
- Keeping up to date with ING’s legal policy requirements and general market trends
Candidate Profile
Qualification/Education
Essential:
- Fluent English and French
- Educated to at least degree level
- Strong credit skills
- Excellent IT skills with proficiency in Microsoft Excel, PowerPoint and Word
- Extensive transaction execution experience within an international financial institution
Experience/Knowledge
Essential:
- At least 2 years’ experience structuring funds finance transactions and a proven track record in execution
- Relationship management experience from a client-facing role in a funds finance team
- Experience reviewing and commenting on loan documentation and term sheets
- Credit skills and experience creating proposal from the ground up
- Personable team player able to gain the confidence and trust of both colleagues and clients.
- Experience executing subscription finance transactions
- Knowledge of FX hedging products for funds and experience with ISDAs and CSAs
Desirable:
- Experience executing NAV financing transactions
Personal Competencies
- Hard working
- A commitment to high quality standards with a fine eye for detail
- Able to plan ahead and prioritise competing demands on time
- Ability to work to deadlines with limited supervision
- A high level of initiative and common sense
- Ability to communicate clearly, both on a verbal and written basis
- Problem solving skills
With over 1000 employees in the Grand Duchy and thanks to the combination of our local presence and the strength of a robust multinational like ING, we offer our personal and business customers a wide range of solutions through the channel of their choice. ING is a global bank with a strong European base. 53,000 employees serve around 38.4 million customers, corporate clients and financial institutions in over 40 countries. Operating in the Grand Duchy of Luxembourg since 1960 as a universal and accessible bank, our products include savings, payments, investments, loans and mortgages for retail and private banking customers, whom we sever serve online and through our network of branches.
