Portfolio Manager - CRE, Private Financing Desk
at PIMCO
On-site New York, New York, United States Full time Posted 2 days ago
Description
PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.
Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.
Position Description
The Private Financing Desk in the PIMCO Alternatives Business works on sourcing and closing leverage facilities in the PIMCO private funds. The Commercial Real Estate Portfolio Manager will source and execute financing trades across the CRE Equity and CRE Debt complexes in the US. This person will also be responsible for managing existing financings including working with CRE Asset managers on distressed positions.
Responsibilities
- Source and structure financings on the CRE Debt book including Loan on Loans, Senior/Mezz, and bank warehouse facilities.
- Source and close mortgage financings on the CRE Equity book.
- Manage existing financings on both the Equity and Debt book including working with our asset management team on covenant compliance, extension tests, and potential market to market needs on the Debt financings.
- Negotiate with our lenders on distressed positions on the Debt and Equity book, work with lenders to restructure loans as appropriate.
- Communicate with Portfolio Managers and Asset Managers on the CRE Equity and Debt teams about current positions.
- Coordinate with Portfolio Managers on new trades in the pipeline and get indications of market levels from potential lenders.
- Negotiate loan documents, intercreditor agreements associated with new financings in conjunction with the legal and PM teams.
- Respond to Ad-hoc requests from Investment committees on CRE financing questions.
Position Requirements
- 7+ years of experience in CRE lending and/or capital markets, experience in non-performing loans or other types of distressed a plus.
- Knowledge of CRE financing markets and the different technology available for financing debt and equity positions.
- Deep relationships and past experience working with broad array of capital providers (banks, lifecos, debt funds, cmbs structures etc) to optimize credit structures and pricing for equity and credit investments.
- Bachelor’s degree and strong academic record with concentration in math, science, finance, economics, legal or other related quantitative/analytical field from a leading, accredited college or university.
- Strong relationship skills and proven ability to build strong relationships with external counterparties and internal stakeholders.
- Well-refined communications skills – ability to articulate ideas and strategies clearly, both verbally and in writing.
- Outstanding analytical skills.
- Proven ability to operate efficiently in a high-pressure environment.
- Enjoy working collaboratively across the organization to resolve issues.
- Advanced abilities with Excel, SQL, business objects, and Bloomberg.
Position Development Value
Extensive exposure to senior industry experts within Portfolio Management and across other functional areas of the firm. A broad range of opportunities to collaborate with talented colleagues. Learning environment focused on key buy-side portfolio risk and return principles. Constructive feedback to foster career growth in addition to a formal annual review process.
Compensation
PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance. Salary Range: $195,000.00 - $240,000.00.
Equal Employment Opportunity and Affirmative Action Statement
PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws.
The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.
Applicants with Disabilities
PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.
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