Asset Management - Asset Manager

Role Description

This position joins Davidson Kempner's Asset Management team, which supports the Investment team in managing the risks, operations and performance of the Firm's portfolio companies, loan portfolios and real estate assets. The team is focused on maximizing performance and value while reducing operational risk, cost leakage and execution risk across the investment lifecycle.

The role sits within the Asset Management team and works across real estate, corporate and structured products investments. The successful candidate will work closely with senior Asset Managers and relevant asset class leads, as well as the Investment team, Legal Transaction team, Finance, Operations, Tax and other Back Office functions. The team also has primary day-to-day relationship management responsibilities with external asset managers, servicers, property managers, operating partners and other service providers.

The position is suited to a candidate with 5-7 years of relevant experience who wants hands-on exposure to a dynamic and growing portfolio of principal investments, with practical day-to-day interaction with operating partners, servicers and investment professionals. The role is expected to contribute across new deal on-boarding, analytics, reporting, risk oversight and investment exit / realization processes.

Key Responsibilities

Relationship and Risk Management

• Work closely with the Investment team and senior Asset Managers to manage external service providers with the aim of maximizing the performance and value of Davidson Kempner's portfolio of assets.
• Support due diligence, appointment and ongoing monitoring of external asset managers, loan servicers, special servicers, property managers, operating partners and other key service providers.
• Assist with servicer and service-provider risk reviews, including oversight of asset maximization strategies, cash controls, IT and data processes, reporting quality and governance arrangements.
• Monitor cash management processes at portfolio companies and asset-owning vehicles, including review of funding flows, waterfall mechanics and compliance with external financing covenants.
• Escalate operational, financial, reporting or counterparty issues in a timely manner and help coordinate practical remediation plans with internal and external stakeholders.

Asset Management Initiatives for the Investment Team

• Assist in the implementation and monitoring of business plans and asset strategies for debt, equity and structured products positions, including tracking actual performance against underwritten plans and investment objectives.
• Develop and maintain detailed reporting for the Investment team, and DK internal teams on asset performance, value drivers, covenant position, liquidity, key risks and progress against strategy.
• Drive performance of external loan servicers, asset managers and operating partners through regular interaction, preparation of agendas and minutes, and design and monitoring of relevant key performance indicators.
• Support deal closing and operational on-boarding, including funding to close, entity / bank account readiness, service-provider appointments, reporting setup, data transfer and first 100-day on-boarding plans.
• Work with JV / operating partners, external property and asset managers, leasing brokers, sales brokers and advisers to support lease initiatives, capital expenditure plans, asset stabilization, disposals and investment / divestment strategies.
• Work with special servicers and portfolio company management teams on detailed business plans and monitor progress against those plans, including identifying gaps, constraints and value-creation opportunities.
• Identify opportunities to improve returns, including revenue enhancement, cost reduction, working capital improvement, process simplification and benchmarking of costs at operating assets and portfolio companies.
• Support structured products and loan portfolio oversight, including collateral monitoring, servicer reporting, waterfall / cashflow analysis, covenant monitoring and data quality review.
• Assist with cross-functional projects for the Asset Management team, including improvements to reporting templates, performance dashboards, closing checklists, service-provider oversight processes and asset management playbooks.
• Leverage IT systems and data solutions to provide insights, streamline operations and enhance analytics.

Product Coverage

The role is expected to work across a broad range of investments, including:

• Real estate assets and real estate-backed loan portfolios, including oversight of property managers, asset managers, leasing brokers and capital expenditure plans.
• Corporate investments, portfolio companies and operating assets, including cash, covenant, performance and operational risk monitoring.
• Structured products and loan portfolio transactions, including servicer oversight, collateral reporting, waterfalls, financing covenants and portfolio-level analytics.

Ideal Candidate Qualifications

• 5-7 years of relevant asset management, investment management, real estate, corporate finance, structured finance, banking, advisory or loan servicing experience
• Willingness to engage in periodic travel where required
• Excellent interpersonal and communication skills, with the ability to collaborate effectively with Investment professionals, Legal Transaction, Finance, Operations, Tax, external asset managers and service providers
• Self-starter and practical problem solver who can take ownership of deals, workstreams, think strategically, manage detail and understand when to consult or escalate
• Strong financial and analytical skills, including understanding of investment performance drivers and performance calculations such as levered / unlevered IRR, NPV, MOIC, cash yields and covenant metrics
• Experience in asset management, portfolio monitoring or operations across real estate, corporate investments, loan portfolios and / or structured products
• Experience working with third-party service providers, portfolio companies or operating partners to improve reporting, operations, controls and asset-level performance
• Hands-on experience with financial models, business plans, loan / servicer reports, asset-level reporting packs, management accounts, budgets and variance analysis
• Familiarity with deal execution and on-boarding processes, including deal close, operational setup, funding flows, reporting infrastructure and post-close action plans
• Good understanding of corporate structures, financing arrangements, covenants and investment documentation
• Business, finance, accounting, economics, or real estate background, with an aptitude for analyzing financial statements, operating data and transaction documentation
• BA / BSc degree, or equivalent, with a strong record of academic achievement; finance, CFA, real estate or comparable qualification would be beneficial but is not required
• Strong cross-functional project management skills and ability to coordinate internal and external stakeholders across multiple workstreams
• Advanced knowledge of Excel, Word and PowerPoint; experience with Power BI, portfolio reporting tools, databases or data visualization would be beneficial
• Ability to prioritize tasks, manage time effectively and work across multiple investments and deadlines
• Self-sufficient and comfortable working independently, while also being a strong team player across regions and functions
• Superior written and verbal communication skills, including the ability to prepare clear summaries for senior stakeholders
• Exceptional attention to detail and commitment to high-quality execution

Seniority and Fit

This role is intended for a mid-level hire who can quickly take ownership of defined asset management workstreams while working under the guidance of senior members of the Asset Management team. The candidate should be comfortable moving between detailed analysis, operational follow-up and senior stakeholder communication, and should be motivated by a broad mandate across real estate, corporate and structured products investments.