Analyst / Senior Analyst, Credit Investments

About Us

We’re one of Canada’s largest pension investment managers, with CAD$264.9 billion of net assets as at March 31, 2024.

We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

Experience The Edge

At PSP, we encourage our employees to grow, forge powerful relationships, contribute and fuel inspired investment launchpads. We are committed to a culture that fosters collaboration and allows us to think beyond, in an interconnected way. We advocate for our employees to speak-up, learn, experiment, share, and be part of an inclusive work environment where diversity is embraced.

About The Team

We’re seeking an Analyst or Senior Analyst to join our Credit Investments (CI) team in New York, providing North American coverage. This hire will be an active member of the CI team on all aspects of the private debt lending process and monitoring including: investment screening, financial modelling and accounting analysis, industry and sector analysis, transaction due diligence, participation in investment decision process, assisting with the drafting of legal documentation, preparation of investment recommendation memos, and post-lending portfolio monitoring.

PSP’s Credit Investment (CI) group currently manages a global portfolio of ~USD19 billion (over 100 portfolio companies) with plans to grow its asset base. The team has over 35 investors across our NY, London, and Montreal offices. The CI group is known to be a reliable, creative, and user-friendly financing solutions provider across a wide range of industries. The team develops long-term partnerships with top tier private equity sponsors, other large direct lenders, and companies. CI provides significant financing and capital commitments in both private and broadly syndicated transactions and has the flexibility to price risk across the capital structure. Products include 1st and 2nd lien, unitranche, delayed-draw, and unsecured term loans as well as revolvers, private or public high yield notes, HoldCo, PIK or cash-pay notes, and preferred equity. CI works within our “One PSP” culture across asset classes to optimize relationships and investments.

About Your Role

As an Analyst or Senior Analyst, you will broadly focus in two core areas:

Investment Analysis & Transaction Underwriting:

• Perform preliminary analysis of CI investment opportunities: review equity, fixed income, and ratings reports as well as public information and existing credit documents
• Participate in due diligence of CI investments, identify key investment merits and risks, meet with management teams, review data-room documentation, and third-party reports
• Act as lead in building and reviewing detailed financial models, including running and analyzing multiple operating scenarios
• Assist the team in drafting legal documentation, such as commitment papers
• Participate in the preparation of investment recommendation memorandums for investment decisions
• Actively participate in the presentation of investment proposals to the Investment Committee
• Interface with Legal, Risk, and Tax groups in the review of proposed investments
• Develop relationships and liaise with investment professionals at CI’s partner firms
  
  

Monitoring & Administration of Investments:

• Review financial report packages from portfolio companies and explain variance vs. underwritten cases, as well as track performance vs. internal Risk Management Group (“RMG”) guidelines
• Prepare periodic reports and undertake various analyses on portfolio status and performance
• Interface with Accounting and Internal Control department as required
• Any other tasks as may be required
  
  

The base salary will range from $105,000 - $160,000 per year. PSP offers globally aligned compensation structures which are sensitive to local market conditions.

What You’ll Need

• One (1) to three (3) years of experience performing the above tasks in investment banking, leveraged finance, or on the buy-side
• Direct credit investing or advisory experience is an asset
• Excellent financial and accounting analytical skills
• Precise attention to detail and presentation of information
• Superior level of proficiency with business software and analytical tools, including Excel, Word, and PowerPoint
• English required, bilingualism an asset
• Education: Business or comparable university degree with high academic standing
• Professional designation: CA or MBA and/or completed final level of CFA designation is an asset
  
  

At PSP Investments, we offer a competitive total reward and benefits package that is designed to attract and retain key employees, reward performance and reinforce the business strategies and priorities. Beyond salary and incentive pay eligibility, your package includes:

• Competitive matching defined contribution pension plan
• Comprehensive group insurance plan (with coverage from day one)
• Vacation days available on day one
• Unlimited access to virtual healthcare services for you and your family
• Generous and inclusive paid family leave policy for all caregivers
• Investment in career development
  
  

At PSP, our goal is to provide an inclusive workplace where we leverage diversity and where everyone feels valued, safe, respected, and empowered to grow. As part of our leadership commitment, we strongly encourage applications from all qualified applicants and strive to offer an inclusive and accessible candidate experience. If you require any accommodation for any part of the recruitment process, please let us know.

This position is located at our New York office.

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www.investpsp.com