Pemberton · London
Associate, Product Strategy & Development
Pemberton Asset Management is a leading European private credit manager. Built on more than a decade of experience and deep credit expertise, we provide innovat...
Pemberton Asset Management is a leading European private credit manager. Built on more than a decade of experience and deep credit
expertise, we provide innovative, cycle-tested private credit solutions for LPs and GPs. Pemberton’s extensive origination network
of ten European offices, local market and sector expertise are core characteristics of Pemberton’s value proposition. A
substantial investment team, a broad and independent credit function and rigorous credit analysis inform our investment approach.
We are committed to advancing responsible investing in private credit and fostering long-term value through transparent
partnerships.
Pemberton manages USD $28.8bn in AuM and employs more than 200+ staff globally. (*As of 30th September 2025. Defined as capital
committed since inception)
Further information is available at www.pembertonam.com. Follow Pemberton on LinkedIn here.
Role Relationships:
Reporting to Managing Director, Head of Product Strategy & Development
Key Stakeholders the role will interact with:
- Portfolio Managers
- Business Development
- Investor Relations
- All groups across Central Functions (Finance, Compliance, Legal etc)
Role Responsibilities:
The Associate is responsible for structuring and executing a wide range of structured finance offerings (both private and public)
including asset-backed financings, direct lending CLOs, securitized funds and leveraged continuation funds —offering institutional
clients efficient, regulatory-optimized access to Pemberton Investment Strategies. The role incorporates advanced cash flow
modeling of underlying portfolios and strategies, in-depth analysis of fee and cost economics, preparation of marketing and
governance materials, participation in new product processes, and regular interaction with rating agencies and institutional
investors.
CLO Structuring
- Structure and model CLOs and asset-backed warehouse/term facilities, optimizing for tranche sizing, waterfalls, collateral
rules, and credit risk
- Model portfolio cash flows under various investment scenarios, integrating expected asset returns, loss/gain cases, prepayment
assumptions, and stress analysis.
- Drive deal execution with support from legal, compliance, and operations teams.
- Lead data submissions and manage iterative feedback processes with rating agencies.
Asset Financing
- Model leveraged funds and the use of various financing facilities to optimise return
- Evaluate sensitivities based on loan covenants
- Analyse fee and cost economics for each structure, including layered fees (fund/asset management, structuring, servicing,
administrative), and their projected impact on investor returns and deal cash flows
- Draft and iterate term sheets detailing economic terms, waterfall provisions, fee structures, and reporting mechanics.
- Drive deal execution with support from legal, compliance, and operations teams
Credit Continuation Funds
- Support analytics for Pemberton Continuation Funds including preparation of investor materials
- Lead investor analytical workstreams
Fund Securitisation and Rated Feeder Structuring
- Structure and model CFs, rated feeders and other securitised fund structures using CLO/securitisation experience
Investor Marketing & Communication
- Prepare technical, data-driven marketing materials, including transaction overviews, fee and economics workups, illustrative
cash flow outputs, pitch decks, and detailed investor Q&A.
- Articulate investment structure, economic rationale, gross-to-net return expectations, and comparative benchmarking of costs
and fees versus market alternatives.
- Support sales/distribution with tailored materials for investor diligence and roadshows.
New Product Committee & Internal Governance
- Present new bespoke products (notes, wrappers, other vehicles) at New Product Committees - detailing full economic structure,
scenario/fee modelling outputs, and compliance review.
Buy-Side & Portfolio Advisory
- Advise Pemberton portfolio teams and institutional clients on structure mechanics, cash flow drivers, expected net yields, and
impact of cost frameworks on investor outcomes.
- Prepare robust investment and risk memoranda—including net return drivers and downside/worst-case analytics—for internal
committees and client reporting.
Compliance and ESG Responsibilities:
In performing regulated and unregulated activities for the firm the Associate, Product Strategy & Development, will follow the
Individual Conduct rules:
- Act with integrity.
- Act with due care, skill and diligence.
- Open and cooperative with the FCA, the PRA and other regulators.
- Pay due regard to the interests of customers and treat them fairly.
- Observe proper standards of market conduct.
- Ensure all Investment Development activity takes into consideration ESG factors to maximise corporate sustainability and
support the firm’s diversity and inclusion objectives.
Work Experience & Qualifications:
As a Product Strategy & Development Associate, the skills and competencies you will need are:
- 3+ years' experience in structured credit, CLO/ABS structuring, or capital solutions, or Investment Banking / M&A with a focus
on cash flow and fee modelling.
- Demonstrated proficiency in portfolio cash flow modelling (Excel, Intex, or similar) across multiple investment scenarios.
- Strong analytical skills with experience modelling layered fee structures and quantifying their impact on net investor
economics.
- Proficient in preparing investor presentations and writing internal risk papers
- Experience drafting term sheets, fee overviews, and technical marketing materials for institutional investors.
- Bachelor’s degree in Finance, Economics, Mathematics, Engineering, Physics, Chemistry or related.
- Focus on learning and developing knowledge regarding securitisation / structured finance / financing / rated transactions
including different investment structures across a wide range of asset classes and investor requirements.
- Learn and develop knowledge relating to key regulatory regimes for banking and insurance sector.
- Ability to support seniors to successfully execute complex transactions across a wide variety of asset classes across multiple
jurisdictions.
Key Qualities:
- Curious and commercially minded, with the ability to understand investor objectives and translate them into practical
structuring solutions.
- Demonstrates end-to-end thinking: capable of taking an idea from concept through financial modelling, preparing clear and
compelling investor presentations, and supporting the transition into legal documentation.
- Strong communication skills, able to articulate complex concepts to both technical and non-technical audiences.
- Highly organised with strong time management skills: able to work independently and prioritise effectively in a fast-paced
environment.
- Professional approach to handling confidential and sensitive information.
- Collaborative and team-oriented, with a willingness to support colleagues during periods of high workload.
Culture (Supporting, Growing, Thriving):
At Pemberton, we foster a culture where people can support each other, grow together and thrive as a team. We are innovative and
entrepreneurial, always seeking new ways to deliver value for our clients while maintaining a high-performing and client-focused
mindset. Collaboration is at the heart of what we do, underpinned by a respectful and supportive environment that encourages open
dialogue and shared success. Our commitment to excellence is matched by our dedication to helping every individual develop their
skills and achieve their potential, ensuring that both our people and our business continue to flourish.
The duties and responsibilities described here are not exhaustive; additional assignments may be required. Duties and
responsibilities may be changed at any time, with or without notice, at Pemberton’s sole discretion.
Pemberton is committed to providing equal employment opportunities to all employees and applicants for employment without regard
to race, colour, religion or belief, sex, gender, gender identity or expression, sexual orientation, age, disability, national
origin, ancestry, citizenship status, marital or civil partnership status, pregnancy or maternity, veteran or military status,
genetic information, or any other characteristic protected by applicable law. We value diversity and are dedicated to creating an
inclusive environment for all employees.
This policy applies to all terms and conditions of employment, including recruitment, hiring, placement, promotion, transfer,
termination, compensation, benefits, training, and development. Pemberton is also committed to making reasonable adjustments to
accommodate the needs of disabled employees and applicants. All employees, managers, and those involved in recruitment or
employment decisions are required to comply with this policy.
If you need a reasonable accommodation to complete your application, please contact People and Performance at
careers@pembertonam.com
Depending on the position, you may be required to obtain certain regulatory licenses/certification if you are in a client facing
role and/or if you are engaged in the following non exhaustive list:
- Attending client meetings where you are discussing products and/or and client questions; and
- Marketing funds to clients.
Note: Please speak with your Pemberton Recruiting contact with any questions.
To submit your application please complete the application form via 'Apply for this Job' below. Fields marked with a red asterisk
- must be completed to be considered for employment (although some can be answered "prefer not to say"). Failure to provide this
information may compromise the follow-up of your application. When you have finished click 'Submit Application' at the bottom of
the application form.