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Asset Manager - Legal Assets

London

Credit Funds

Ref#: 2674

Date published: 5-May-2021

About Fortress:


Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $53.1 billion of assets under management as of March 31, 2021. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.


About Credit:


Fortress’s Credit business was launched in 2002 by Pete Briger. Today, the Fortress Credit team consists of over 500 professionals and is focused on investing globally, primarily in undervalued assets and distressed and illiquid credit investments. The investment team, led by Managing Partners Pete Briger, Dean Dakolias, Drew McKnight and Joshua Pack, has a long and established track record investing throughout a number of credit and distressed cycles around the world. With approximately 120 professionals dedicated to asset management in 13 geographic locations, the Fortress Credit team also has the experience and expertise to manage and service assets with operational complexity.


The Legal Assets group within the Credit business provides capital solutions to law firms, specialty finance companies, and plaintiffs and defendants involved in litigation, regulatory or other legal processes.  The group targets investments in a variety of opportunities such as Single Case Litigation Funding, Portfolio Litigation Financing and Law Firm Lending, to name a few.


Fortress is seeking an Asset Manager to monitor transactions that have been made for the Legal Assets portfolio. The Asset Manager will work as an integrated part of the Legal Assets team and is primarily responsible for the following aspects:


  • Monitor closed transactions to ensure compliance with credit and other definitive documentation (e.g., affirmative and negative, financial, and reporting covenant compliance).
  • Analyze and monitor various performance metrics including financial ratio and covenant analysis, liquidity and cash flow modeling and analysis, collateral coverage and composition, and operational analysis including operating budget compliance.
  • Regularly liaise with borrowers’ management team and investment partners with respect to strategic, operational, and tactical issues related to the performance of the position.  This includes handling routine investment & loan servicing responsibilities (such as working with the Fortress operational team to process draws and distributions) as well as managing restructuring and amendment processes.  Also work with third-party collateral valuation or third-party servicing agents in monitoring the underlying assets.
  • Responsible for (i) continuous reporting of status and key developments within the portfolio to the Legal Assets team; (ii) regular reporting of key portfolio events, investment valuations, projected cash flows and other performance updates to Fortress senior management and internal valuation team; and (iii) periodic reporting to, and liaising with, external auditors regarding valuations and drivers thereof.
  • Assist in the review and negotiation of definitive transactional documents to ensure that such documents conform with, and will allow for, effective asset management post-closing.  Work together with the underwriting team in evaluating follow-on investment opportunities.
  • Together with the underwriting team and research team, monitor specific litigations underlying the existing investments, as well as relevant news, legislation and broader litigation trends that may affect the portfolio.

The ideal candidate will have:


  • A bachelor's degree in accounting, finance, economics or related field and at least four years of related experience in asset-based credit analysis
  • A background in investment banking, securitization banking, asset backed finance, asset backed securities portfolio management or asset based lending
  • An understanding of capital structures and balance sheets, and the ability to analyze a specialty finance company and its assets
  • Exceptional interpersonal and communications skills
  • Strong analytical abilities and negotiating skills
  • Demonstrated strength in Excel, Word and PowerPoint

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