Associate, Product Strategy & Development

About this role

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 http://www.pembertonam.com. Follow Pemberton on LinkedIn here http://www.linkedin.com/company/pemberton-asset-management.

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 /…