Asset Based Lending Portfolio Management Career

Earlier this year I had the opportunity to join the portfolio management team at a nonbank asset-based direct lender that specializes in making senior secured loans to middle-market healthcare services companies. They do a lot of term loans and revolvers.

This PM team is separate from the originations and underwriting folks and the job seemed pretty focused on reporting and collateral/covenant monitoring duties which wasn't especially appealing to me, to be honest (might be great for work/life balance because of it though). At the time, I didn't feel I understood the role well enough, but I've been interested in learning more since then and had a few questions, although I would be interested to hear anything you all might have to share about this sort of role:

  • How does compensation scale as you get promoted if you stay in portfolio management? (for what it's worth, the analyst offer was $70K-$80K base with 25% bonus target fresh out of undergrad)
  • What does the day-to-day work look like? (especially any exposure to modeling or overall business analysis beyond reporting bean-counting)
  • What kind of exit opportunities are common for those looking to move on from PM? Is it feasible or even normal to move into an investment role, internally or otherwise?-- what steps and experience could help facilitate such a move?
  • How I should approach evaluating a similar opportunity should I explore it in the future (e.g. I know some PM teams take the lead on structuring amendments and follow-ons which is something I would probably seek out in a potential role)

I could see myself being happy in an investment role at this kind of shop someday, but just wasn't sure if working in PM was the right step for me now. Thanks.

Comments (1)

  • Associate 1 in Consulting
Sep 4, 2021 - 3:05pm

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