Universities Superannuation Scheme (Ltd)
Associate Investment Director - Private Credit and Alternative Income
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Associate Investment Director - Private Credit and Alternative Income
Place of Work: London
Contract Type: Fixed Term Contract
When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.
Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.
About the Role
In your role as Associate Investment Director - Private Credit and Alternative Income you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to have responsibility for origination, underwriting, monitoring of Private Credit and Alternative Income (PCAI) investments.
The role will focus on transactions in the Matching Asset Strategy including core infrastructure; renewable energy; digital infrastructure and real estate-backed credit. The successful candidate will work alongside colleagues in the Investment and Asset Management Teams, as well as the Property team on select transactions.
What You Will Be Doing
As a trusted part of the Private Markets team you will be responsible for:
- Evaluating and identifying investment opportunities that are suitable for USS’s Private Credit mandate, and form investment recommendations to Private Markets Investment Committee.
- Assisting Investment Directors/Transaction lead in managing end-to-end transaction processes. To include liaising with key internal stakeholders and managing external workstreams such as legal, credit/commercial & financial due diligence and tax Due Diligence.
- Identifying attractive investment thematics and build origination roadmap that led to successful execution of transactions that offer, among other things, long duration IG credit exposure to USS.
- Developing key origination relationships with sponsors, GPs, intermediaries and corporates.
- Assisting in asset management, managing the life cycle of the investments, delivering strategic objectives, leveraging advisors / servicers and presenting materials updates or recommendations to the Portfolio Review Committees.
- Representing USS within industry including attendance and presenting at conferences and proactively promoting PMG’s investment strategy and team.
- Proactively participating as a member of the management forum within PCAI, proactively participating in strategy, team prioritisation and thought leadership for operational improvements across the team.
About You
We know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.
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To be successful in the role you will have:
- Experience of private credit, of which 5+ years underwriting direct private credit transactions.
- Demonstrate an origination network, ideally within UK infrastructure /energy transition.
- Ability to lead transaction negotiations independently.
- Demonstrated experience of accountability for underwriting and proactive asset management.
- Experience of managing an M&A/debt underwriting process.
- Extensive knowledge of the private equity/credit community.
- Excellent financial modelling skills, strong understanding of company valuation techniques and portfolio construction.
- Undergraduate degree in finance related subject from a top-tier university.
- Capable of both bottom-up investment analytics and top-down strategic thinking.
- Ability to deliver high quality work under constrained timelines.
- Competent at prioritisation, process organisation, and management of multiple workstreams.
- Ability to influence & fulfil investment decisions.
- Enhance and further develop USS’ cultural objectives.
Why Join Us?
At USS, every individual contributes to building a secure financial future for our members and their families. We strive to create a work environment where everyone can thrive professionally while making a meaningful impact on the lives of others. We're also committed to helping you build your career by providing opportunities for development. We put a focus on recognising and supporting each individual's unique career path, driving this forward with the support of an engaged and proactive management team. Here at USS, we want you to thrive in and out of work with a friendly team, flexible culture and excellent range of benefits!
How We Will Reward You
- Great starting salary
- Generous annual leave package
- Access to a high quality pension scheme provided through Universities Superannuation Scheme
- Supportive people policies (including enhanced occupational sickness pay and family friendly pay)
- Financial contributions towards your personal development to help you maintain your physical and mental wellbeing
- Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership
- Learning and development opportunities to develop your skills, knowledge and talent
- Employee Volunteer Day’s to support the communities where you work and live
- Cycle to Work Scheme
Our Culture and Values
Our people are what makes us different. We work together to create a diverse and inclusive culture that embraces individuality, where people are welcomed and feel comfortable in the knowledge that they can be themselves. Our purpose firmly states the importance of members, putting them ‘front and centre’ of what we do. This is embedded through our values:
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About Us
Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for almost 577,000 members and their families. We are one of the largest pension schemes in the UK, with total assets of around £76.8bn (at 31 March 2025). To find out more, please visit https://www.uss.co.uk.
The Private Markets Group (PMG) consists of a 70+ person team that oversees c. £26 billion in assets across a fast-growing and diverse portfolio of private equity, infrastructure, private credit and property investments on behalf of the Universities Superannuation Scheme (USS). By operating as a single team, with individual areas of specialism and expertise, PMG is able to combine its resources through a “OnePMG" approach to investing which allows us to maximise origination, due diligence, transaction execution and asset management by tailoring the right mix of skills.
Capable of deploying capital across the full range of private market investing (direct, joint ventures, partnerships, co-investments and funds), and with in-house asset management and strategy teams complementing our investment function, PMG has developed a strong track record of innovation that is frequently recognised by our peers across equity, credit and property and, as one of the UK’s pre-eminent private markets’ investors, PMG often partners with many of the largest, most respected global financial institutions.
PMG’s portfolio includes ownership of some of the UK’s largest and most recognisable private companies and, through its holdings, is an established presence in the UK renewables sector. We also hold governance positions through our investments in a range of companies located across the EU, North America and Australia with exposure across different industries and sectors.
Being part of the UK’s largest pension scheme and serving the needs of USS and its members, PMG takes its role as a responsible investor seriously and is committed to adopting and promoting strong ESG credentials across its investments.
USSIM is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting resourcing@uss.co.uk.
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