Fortress has an opening for an Asset Manager position that will work on the European Credit Asset Management team. This position will be responsible for the day-to-day management of a portfolio of European transportation (mostly shipping) and industrial assets with investments ranging from first lien debt to controlling equity.
In this role, the candidate’s responsibilities will involve: monitoring investments (debt and equity) in the fund to ensure compliance with investment documents; determining the fair market value of the investments; generating monthly reports for each investment; and developing and executing restructuring and workout strategies for problem investments.
The Asset Manager will:
• Demonstrate strong knowledge of the characteristics and deal mechanics of each investment
• Review each investment at inception and coordinate with internal parties to ensure the investment has been input into the various systems correctly
• Monitor each investment to ensure adherence to provisions of the investment documents and to detect and evaluate potential performance and/or compliance issues.
• Maintain involvement with each investment from the time it is closed through pay-off/recovery.
• Provide financial analysis and investment updates to support all investment decisions
• Work with senior management to determine and execute the appropriate strategy for problem investments, which will include interactions and negotiations with the borrower(s) and/or owner(s) and, if necessary, the restructuring or liquidation of the investment.
• Determine the fair market value for each investment.
• Develop and produce monthly asset management reports, valuation memos and other ad hoc reports as required.
The ideal candidate will:
• Several years of experience with a minimum of 3 years managing transportation and/or industrial assets – prior experience in shipping is a plus
• A college degree from an accredited university, major in finance, economics or related degree
• Strong quantitative, written and oral communication skills
• Advanced knowledge of Microsoft Excel; Word and PowerPoint skills.
• The ability to work independently in a demanding environment
• Excellent attention to detail