Portfolio Associate/Asset Manager
COMPANY OVERVIEW
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.
KKR REAL ESTATE CREDIT AND K-STAR INVESTMENT SERVICES OVERVIEW
KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through eight separately capitalized vehicles across our Direct Lending and Securities portfolios and consists of 120+ dedicated professionals based in New York, San Francisco, Houston and Dallas.
K-Star Asset Management LLC ("K-Star") was formed in 2022 and is a wholly owned subsidiary of KKR. K-Star is a dedicated investment services platform that supports underwriting, asset management, loan origination, securities investing, risk management, and client experience for KKR Real Estate Credit as it continues to scale. The K-Star team includes industry specialists in special servicing, asset management, due diligence, and loan closing, among other functional areas. For additional information about K-Star, please visit K-Star’s website at .
POSITION OVERVIEW
K-Star is seeking an intelligent, analytical, and proactive asset manager to join the Credit Asset Management team. The asset manager will be responsible for the oversight and reporting on a portfolio of loans secured by stabilized, light to high transitional and possibly construction projects located throughout the United States. The qualified candidate will also be expected to participate in special projects and assignments related to the growth of the platform. With a goal of process development and execution, this candidate must be an exceptional communicator and have the ability to build strong partnerships across the various KKR businesses, including the Firm’s real estate credit originations, legal, finance, and asset management teams.
RESPONSIBILITIES
- Analyze and evaluate draw requests, lease approvals, loan modifications and various other borrower requests and periodic underwriting of collateral
- Monitor portfolio performance for potential adverse credit issues and trend analyses
- Analyze and utilize monthly and/or quarterly financial statements and rent rolls with comparison against underwriting and budgets
- Monitor national, regional and local market dynamics to assess tenant credit risks and concentrations
- Prepare and present asset performance reports to company management and other investor parties
- Collaborate with construction consultants and other members of the project team to monitor schedules, budgets, leasing and business plans in real time
- Interpret complex loan documents to confirm and track satisfaction of relevant loan terms and covenants
- Work closely with investment team on relationship management of transaction sponsor
- Partner with internal and external legal counsel when evaluating legal issues and documenting various transactions arising from the asset management of the portfolio
- Mentor and coach portfolio analysts in analyzing operating statements and rent rolls and supporting other asset management responsibilities
- Manage special projects, including implementation of new technologies to support K-Star’s platform
- Travel on an as needed basis
QUALIFICATIONS
- Bachelor’s degree or equivalent experience preferably in a related course of study
- 5-7+ years of related work experience in asset management of loans secured by commercial real estate
- Fundamental knowledge of commercial real estate, fixed income, and general financial concepts
- Superior analytical and financial modeling skills
- Excellent organizational, verbal, and communication skills
- Exceptional attention to detail and thoroughness is required to ensure accuracy in all data and work product
- High proficiency with Microsoft Excel, Word, PowerPoint and Outlook
- Special Servicing, Argus, construction loan or development experience a plus
- Team Player with collaborative and strong relationship building skills with the ability to work independently in a way that reflects the company’s culture and core values
- Skilled at developing and maintaining personal, social and business relationships representing KKR in a professional manner
#LI-ONSITE
KKR is an equal opportunity employer. Individuals seeking employment are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, or any other category protected by applicable law.
KKR will provide reasonable accommodations as required by applicable federal, state, and/or local laws. Individuals seeking an accommodation for the application or interview process should email [email protected]. Emails sent for unrelated issues, such as following up on an application, will not receive a response.
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Massachusetts Applicants: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. This notice applies only to applicants and employees who work or will work in Massachusetts, in accordance with applicable state law.