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What You'll Do

As the Director | Managing Director, Non-Sponsored Origination, you’ll report into the Head of Principal Alternative Credit Direct Lending. Your primary responsibility will be to help build the senior debt origination capabilities within the broader Principal platform, while also opportunistically seeking to originate second lien and mezzanine debt. This position will specifically focus on origination away from the PE Sponsor channel, encompassing direct company origination as well as non-traditional sponsor origination.

Key Responsibilities:

In this role, you’ll support the group’s effort in developing and managing relationships with potential borrowers, non-traditional sponsors (e.g. family office, fundless sponsors), and other origination partners within the direct lending community. Your responsibilities will include:

• Originate investment opportunities based on strategic fit and financial return

• Develop, maintain and leverage relationships with prospective business owners / targets, investment bankers / business brokers, advisors, developers and other industry participants to support a robust pipeline of potential deal activity

• Develop lending relationships with Principal clients, collaborating with client-facing individuals and other areas of the Principal organization to develop the proprietary lending platform.

• Develop and manage a direct origination focused senior debt effort across geographic regions of the US aligned with Principal’s investment strategies.

• Maintain and institutionalize a deep understanding of each relationship by monitoring and reporting material fundraising, investment, and portfolio activities.

• Lead and coordinate with underwriting staff the screening, underwriting, approval, and closing processes for each financing opportunity.

• Evaluate investment opportunities and provide recommendations regarding the allocation of time and resources based on fit with Principal’s investment criteria and preliminary investment theses.

• Support the expansion of Principal’s general marketing efforts, including all products and capabilities.

• Attend and facilitate sessions at lower middle-market focused M&A events, business owner forums, and industry conferences/tradeshows.

• Support the firm’s efforts to attract, develop, and retain best-in-class origination, underwriting, and portfolio management talent.

Who You Are

Director, Originations – We’re seeking someone with:

• Bachelor’s Degree required. MBA or CFA expected.

• 10+ years of relevant middle market credit and originations experience, including 5+ years of direct underwriting and portfolio management experience.

Managing Director, Originations – We’re looking for someone with:

• Bachelor’s Degree required. MBA or CFA expected.

• Strong credit capabilities with 15+ years of relevant middle-market credit and originations experience, including 5+ years of direct underwriting and portfolio management experience.

• Proven leadership skills specific to the middle-market credit and loan origination market.

Director & Managing Director, Originations – Will have the following:

• Deep relationships with prospective borrowers and senior members of other organizations, such as advisors, family offices, and commercial banks, resulting in a history of sourcing a diverse set of attractive middle-market financing transactions.

• Direct lending experience is preferred.

• Proven experience with direct origination of Non-Sponsored transactions.

• Comprehensive knowledge of market pricing and terms, coupled with a creative and balanced approach to credit structuring and pricing.

• Experience in managing multi-product transaction teams, leading the execution effort from origination to closing.

• Ability to balance a calm, steady, patient approach to business with a passion to compete and win new business in a highly competitive environment.

• Skill in accepting and managing conflict and disagreement in a constructive and professional manner.

• Travel will be required, up to 50% domestic.

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$174000 - $275000 / year

Time Off Program

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.

Pension Eligible

No

Additional Information

Location(s)

We’re open to considering hybrid and remote talent. Locations for talent are Chicago, Des Moines, or New York City.

Work Authorization/Sponsorship

At this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers and https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants

Investment Code of Ethics

For Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees – individually and all of us together. Explore our core values (https://www.principal.com/about-us/careers#core-values) , benefits (https://www.principal.com/about-us/careers#benefits) and why we’re an exceptional place (https://www.principal.com/about-us/careers#reputation) to grow your career.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Original Posting Date

5/17/2024

Most Recently Posted Date

5/17/2024

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