Morgan Stanley
Private Credit- Underwriting- Analyst/ Associate
Morgan Stanley, Chicago, Illinois, United States, 60290
Job Description
Morgan Stanley Investment Management (“MSIM”) is a global investment manager with over 40 years of history delivering innovative investment solutions across public and private markets worldwide. We have $1.5Tn of AUM with professionals located across 24 countries, with a proven long‑term track record of success. Our investment teams bring significant expertise in structuring complex financial transactions and commitment to partnering with world‑class management teams. Morgan Stanley’s extensive business relationships and global network of resources afford our private equity and credit teams as well as our portfolio companies’ unparalleled access to leading corporations, executive talent, and competitive deal‑sourcing advantages.
Morgan Stanley Private Credit (“MSPC”) is the corporate credit‑investing business within the Private Credit & Equity segment of Morgan Stanley Investment Management. MSPC manages investments on behalf of third‑party institutional and high‑net‑worth investors across a number of funds and strategies. MSPC has pockets of capital focused on investing in privately negotiated senior secured debt, junior debt and mezzanine debt investments to middle‑market corporate issuers as well as select secondary market credit investment opportunities.
Morgan Stanley Direct Lending (“MSDL”) is a rapidly growing and the largest segment of Morgan Stanley Private Credit. The team closed its first transaction in the first quarter of 2020, has since grown to ~\$20 billion of AUM and manages over 225 portfolio accounts. Almost all of the team’s investing activities are focused on upper middle‑market private‑equity‑controlled companies seeking club‑executed unitranche financing. MSDL is looking for a Vice President to support the investment efforts of the credit investing platform.
Responsibilities
Work with senior and junior members of MSDL to conduct due diligence on new opportunities
Perform in‑depth sector and company research and detailed financial modeling
Prepare credit investment memoranda
Assist with the negotiation of term sheets, commitment letters and credit documentation
Monitor portfolio company results as well as assist with add‑on financings and amendments
Bachelor’s Degree
Strong academic record and job performance
Minimum of 2 years of relevant work experience, mix of Investment Banking and Private Credit experience preferred
Excellent PowerPoint, Word and Excel skills, including ability to independently create flowing, 3‑statement financial projection models
Strong written and verbal presentation skills
Ability to work effectively on multiple projects in a fast‑paced environment
What You Can Expect From Morgan Stanley We are committed to maintaining the first‑class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—aren’t just beliefs, they guide the decisions we make every day to do what’s best for our clients, communities and over 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work‑life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
Expected base pay rates for the role will be \$110,000 – \$225,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long‑term incentive packages, and other Morgan Stanley‑sponsored benefit programs.
Illinois: Salary range for the position: \$110,000 – \$225,000 per year. The successful candidate may be eligible for an annual discretionary incentive compensation award and to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and other insurance plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal‑opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Seniority Level
Entry level
Employment Type
Full‑time
Job Function
Finance and Sales
Referrals increase your chances of interviewing at Morgan Stanley by 2x.
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Morgan Stanley Private Credit (“MSPC”) is the corporate credit‑investing business within the Private Credit & Equity segment of Morgan Stanley Investment Management. MSPC manages investments on behalf of third‑party institutional and high‑net‑worth investors across a number of funds and strategies. MSPC has pockets of capital focused on investing in privately negotiated senior secured debt, junior debt and mezzanine debt investments to middle‑market corporate issuers as well as select secondary market credit investment opportunities.
Morgan Stanley Direct Lending (“MSDL”) is a rapidly growing and the largest segment of Morgan Stanley Private Credit. The team closed its first transaction in the first quarter of 2020, has since grown to ~\$20 billion of AUM and manages over 225 portfolio accounts. Almost all of the team’s investing activities are focused on upper middle‑market private‑equity‑controlled companies seeking club‑executed unitranche financing. MSDL is looking for a Vice President to support the investment efforts of the credit investing platform.
Responsibilities
Work with senior and junior members of MSDL to conduct due diligence on new opportunities
Perform in‑depth sector and company research and detailed financial modeling
Prepare credit investment memoranda
Assist with the negotiation of term sheets, commitment letters and credit documentation
Monitor portfolio company results as well as assist with add‑on financings and amendments
Bachelor’s Degree
Strong academic record and job performance
Minimum of 2 years of relevant work experience, mix of Investment Banking and Private Credit experience preferred
Excellent PowerPoint, Word and Excel skills, including ability to independently create flowing, 3‑statement financial projection models
Strong written and verbal presentation skills
Ability to work effectively on multiple projects in a fast‑paced environment
What You Can Expect From Morgan Stanley We are committed to maintaining the first‑class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—aren’t just beliefs, they guide the decisions we make every day to do what’s best for our clients, communities and over 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work‑life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
Expected base pay rates for the role will be \$110,000 – \$225,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long‑term incentive packages, and other Morgan Stanley‑sponsored benefit programs.
Illinois: Salary range for the position: \$110,000 – \$225,000 per year. The successful candidate may be eligible for an annual discretionary incentive compensation award and to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and other insurance plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal‑opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Seniority Level
Entry level
Employment Type
Full‑time
Job Function
Finance and Sales
Referrals increase your chances of interviewing at Morgan Stanley by 2x.
#J-18808-Ljbffr