Associate, Private Credit - Manager Research

Corporate Title: Associate

Job Title: Associate, Private Credit Manager Research

Location: Monday-Wednesday in office (NYC Midtown), Thursday-Friday optional home or office

Department: Nomura Capital Management (NCM)

The pay range for this position at commencement of employment is expected to be between $150,000 and $200,000/year * (see below footnote for additional compensation and benefits information).

Company Overview

Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Management. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.

Aon's Benefit Index, Nomura's benefits rank #1 amongst our competitors

Division Overview: Nomura Capital Management

As part of its efforts to expand its investment management business in the Americas and enhance its overall offering, Nomura Holding America Inc. established a new business line - Nomura Capital Management (NCM). NCM provides RIAs and their clients with access to private markets. The first strategy brought to market provides diversified exposure to private credit sectors through an interval fund structure. The second fund launched is a private credit drawdown strategy. Additional products/strategies will be developed in other private markets such as real estate, infrastructure, private equity or venture capital (e.g., potentially including non-traded REIT/BDCs, open/closed-end private funds or similar structures).

Role Description:

The experienced Associate will have 2-4 years of experience in private credit manager selection and research and will work in the Private Credit Team for the Nomura Alternative Income Fund (NAIFX). The candidate will play a critical role in sourcing and managing best-in-class GPs in Asset-Based Lending, Specialty Finance, and Real Estate Debt who offer both private credit funds and co-investments.

The ideal candidate will possess extensive quantitative, data management and research skills. The candidate will assist with and contribute to the investment strategy decisions of the fund-regarding manager screening and selection, monitoring and surveillance, and market research. Ideally the candidate will have prior experience working for an institutional platform with similar types of portfolios, have a background in investment research, and possess a working knowledge of a range of investment vehicles.

Besides day-to-day manager research and monitoring responsibilities, the candidate is expected to participate in due diligence visits and calls with fund managers and research analysts as part of the manager selection process. Additionally, as a key team member and contributor in a fast-growing business, the candidate will help shape strategic decisions through ad hoc research, project management, and interdepartmental collaboration.

Responsibilities include but are not limited to:

• Work closely with Manager Research team members to review and evaluate prospective investment partnerships; conduct due diligence; and maintain an internal database of prospective investment partnerships across market subsectors.
• Write manager meeting notes, due diligence reports, and manager recommendations; summarize the due diligence findings in investment recommendation memos.
• Facilitate and complete a variety of research tasks, including conducting written surveys, analyzing peer groups, and writing manager review memorandums and commentaries.
• Help develop quantitative risk framework for analyzing the historical track record of prospective investment partners; construct financial models and perform technical analysis as needed.
• Maintain oversight of capital calls and distributions as required.
• Track and report manager performance; monitor fund developments; design reports to track fund and portfolio exposures and performance attribution.
• Help automate processes to ensure that fund reporting requirements are met; assist with ongoing reporting needs.
• Actively contribute content for the production of investment materials and communications to clients (e.g., marketing decks, presentations, roadshows, blogs, etc).
• Build relationships with fund managers, industry participants, placement agents, investment consultants and peer network to help drive product development, idea generation, and investment performance.

In all of these activities, the candidate will collaborate with teams both internally and externally and across functions-Risk Management, Legal, Compliance, Data providers, Distribution partners, Counterparties, Technology Vendors, Operations, Accounting, etc.

Skills, experience, qualifications and knowledge required:

• 2-4 years of relevant credit experience in private asset-based, specialty finance or real estate credit and a strong grasp of the alternative investment landscape.
• Manager research experience at a private credit investment firm or group is highly desirable (e.g. pension fund, insurance company, fund of funds, investment consultant, OCIO, wealth management platform, endowment, foundation, sovereign wealth fund, family office, etc.).
• Investment experience and knowledge of liquid and private credit strategies is a plus, but not required (e.g. high yield, bank loans, structured products, real estate debt, or stressed/distressed debt).
• Demonstrated capacity to learn and develop broad expertise, including working knowledge of alternative investment strategies, financial instruments, and valuation approaches across securities and derivatives.
• Strong attention to detail, sense of accountability and dedication to continuous improvement.
• Strong organizational skills and the demonstrated ability to work productively and efficiently in a fast-paced environment with multiple projects, priorities, and deadlines.
• Advanced Excel/Word/PowerPoint skills required; working knowledge of PowerBI or R/Python (or equivalent) is ideal.
• Data driven mindset with strong quantitative and technical skills.
• BS/BA in finance, accounting, mathematics, statistics, engineering or related field required; Masters Degree preferred
• Progress towards CFA or CAIA designation is desired.

Nomura Competencies

Explore Insights & Vision: Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions: Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People: Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability: Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion: Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

• base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, discretionary awards and eligibility for commissions for applicable sales roles in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

If hired in the U.S., employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

Nomura is an Equal Opportunity Employer