Accel-KKR Overview
For over 20 years, Accel-KKR (“AKKR”) has been investing in mid-market software and technology enabled services firms. AKKR has brought capital, expertise and a network of relationships to our portfolio companies, enabling them to grow faster and more profitably. Throughout the years, the firm has taken a collaborative approach to working with our management teams so that, together, we can build value and help our companies reach their full potential. Today, the firm invests across four primary platforms: majority buyout equity, minority growth capital, strategic equity capital, and senior secured debt capital. The various platforms allow AKKR to provide flexibility depending on the needs of the underlying portfolio companies and their ownership structures.
About Accel-KKR Credit Partners
AKKR Credit Partners was founded in 2017 and is focused on direct lending to middle market technology companies that are either founder-owned and bootstrapped, private equity backed, or public. Opportunistically, the fund also invests in the secondary market, broadly syndicated deals, or participations in debt supporting AKKR buy-outs.
The ideal candidate has strong credit fundamentals and is knowledgeable about investing in technology companies with recurring revenue streams. AKKR’s culture is built on a strong work ethic and drive to succeed and is one that values authenticity and collaboration. The Credit Fund is looking for a seasoned mid-level candidate with an intrapreneurial spirit that will lead our portfolio monitoring and assist in managing 3-4 Associates. Must also have underwriting, sourcing, and operational skills.
Primary Responsibilities and Duties
I. Portfolio Management
· Assist in leading and training 3-4 Associates to:
- Spread financial statements on a timely basis
- Validate quarterly covenants and compliance certificates
- Validate annual collateral compliance
- Identify revenue, expense, and margin financial trends
- Proactively interact with mgmt. teams (monthly or quarterly touchpoints with agendas annual in-person visits)
· Improve, or develop, processes to ensure rigorous portfolio monitoring
- Borrower financial and collateral reporting is complete, received on time, and in appropriate format
- Tracking loan balances, interest and principal payments
· Portfolio reviews
- Send agenda and lead quarterly portfolio reviews with investment committee
- Send agenda and lead semi-annual secondary portfolio reviews with investment committee
· Portfolio modifications and managed exits
- Oversee Associates on term and legal negotiations for amendment, waiver, extension, modification, etc. processes
- Co-lead with MD or Principal any managed exits
· Operations
- Assist Associates and work with internal operations team and third-party loan administrator to ensure loans are accurately setup, tracked, and invoiced
- Work with a/p team to ensure all legal fees and other expenses are properly billed to borrower or fund
- Work with our Director of Tax on foreign borrowers withholding tax calculations and filings
II. Portfolio Monitoring
· Secondary coverage on ~1/3 of the portfolio; primary coverage is with the Associates
- Take the lead on monthly or quarterly calls if new Associate is ramping or out of office
- Advise Associate, or take lead if Associate is ramping, on term and legal negotiations for amendment, waiver, extension, modification, etc. processes
Secondary Responsibilities and Duties
III. Sourcing
- Coordinate with internal sourcing team and regular mining of Pitchbook, LCD News, and syndication desks to identify qualified and actionable leads
- Develop and maintain relationships with investment bankers, lenders, syndication desks, private equity sponsors, and directly with companies
- Review and screening of new prospects and brainstorming on structure and terms
- Routine and timely entries into CRM platform
- Monitor secondary debt markets and identify potential investment opportunities
IV. Operational/Administrative
- Calculate monthly leverage borrowing base, covenants, and submit reporting requirements
- Assist in producing annual LP meeting and fundraising materials
- Participate in the annual LP meeting as well as fundraising meetings/calls
- Lead annual loan valuation with third-party valuation firm
- Lead annual audit in conjunction with our internal operations team and third-party audit firm
V. Underwriting
- Evaluate and screen new loan opportunities
- Lead management meetings and diligence calls
- Present deal opportunities to investment committee
- Work with Associate on building the model / case analysis and validating assumptions
- Complete business due diligence including customer calls, industry calls and financial analysis
- Lead legal documentation and funding process
Position Qualifications and Skills
- Solid credit fundamentals with ability to provide accurate and thorough analysis of credit risk
- Familiarity with senior secured loan documents
- Proven ability to build repeatable processes that improve portfolio monitoring
- Advanced writing and financial modeling
- Superior organizational and time management skills
- Good communication skills and attention to detail
- Self-motivator and ability to execute with little oversight
- Alignment with AKKR’s ITRUST mission and values (https://www.accel-kkr.com/about/)
- BA/BS Degree
- U.S. citizen or permanent resident status
Salary
$175k - $225k/ year (Does not include annual performance bonus or other compensation benefits)
