Associate, Special Assets

Ledgend Group is partnering with a large private credit manager on a confidential search for an Associate to join its Special Assets team in New York.This is an investing seat on the credit deal team, not a back-office monitoring role. You will work alongside senior professionals and the underwriting team to diagnose what went wrong, decide on the best path forward, and drive the outcome.What you will do• Track a portfolio of stressed and underperforming loans, including companies the firm now owns, and keep action plans current• Re-underwrite troubled credits with a focus on liquidity, the root causes of underperformance, fixes available, and likely recovery• Build and maintain models to compare amendment, waiver, restructuring, and recovery outcomes, including downside scenarios• Help develop and execute recovery strategies, including operational and value creation work at owned portfolio companies• Join negotiations with private equity sponsors, management teams, and other lenders across the capital structure• Write investment committee memos, portfolio updates, and amendment and restructuring materials• Support senior team members on diligence and cross-team projects as neededWhat we are looking for• 2 to 5 years of experience in restructuring, credit workouts, leveraged finance, direct lending, private credit, or investment banking, with real exposure to stressed or distressed situations• Restructuring advisory experience (debtor or creditor side) is a strong fit• Advanced Excel modeling: liquidity analysis, downside cases, and recovery and debt waterfalls• Strong accounting and corporate finance fundamentals• Clear, concise writing and the ability to turn a complicated situation into a crisp recommendation• Sound judgment and the ability to run workstreams independently when things move fast• Bachelor's degree in finance, accounting, or a related field with a strong academic record• Experience with 13-week cash flow forecasts and covenant compliance is a plus