About the Firm Our client is a newly launched Asset-Based Finance (ABF) investor focused on the lower-middle market. The firm provides private, asset-backed financing to originators, owners of cash-generating asset pools and specialty lenders across Europe and the UK. Its senior team pairs deep structured credit investing experience from leading integral asset managers with senior operating backgrounds at major fintech platforms and financial institutions. The fund is backed by a strategic partner that has already committed anchor capital. The Role The firm is hiring an Investment Associate to join its investment team at a formative stage of the platform. Reporting directly to the management team, you will own workstreams across the full investment cycle, from first call to exit. You’ll be a core member of a lean team, with real influence over deal outcomes and over how the platform is built. You will:
• Origination and screening: source and assess inbound and proprietary opportunities across consumer, SME, real-asset and specialty finance collateral. You’ll lead the initial market, platform and credit assessments and form a view on which deals to pursue.
• Underwriting: lead data tape analysis and historical performance reviews (delinquencies, defaults, prepayments, recoveries). You’ll build and own the asset
- and liability-side cash-flow models, including stress and downside scenarios, and run operational and legal due diligence on originators and servicers.
• Structuring and execution: shape facility terms, including advance rates, eligibility criteria, triggers and covenants. You’ll negotiate with borrowers and manage counterparties, legal counsel and third-party advisers through to closing.
• Investment committee:



write investment memoranda and present your recommendations to the investment committee.
• Portfolio monitoring: own the monitoring of assigned positions against underwriting assumptions, review servicer reporting, identify early-warning signals, and propose and implement remedial actions.
• Fund building: contribute to fundraising materials and LP reporting, help design the firm’s investment processes and infrastructure, and support the development of future junior hires. What We’re Looking For
• 2–4 years of relevant experience in ABF, securitisation, specialty finance or structured credit. This could come from a private credit fund, an asset manager, an investment bank’s securitised products or financing desk, a rating agency or advisory, or the capital markets team of a lender.
• Hands-on experience analysing loan-level data tapes and building asset-backed cash-flow models
• Working knowledge of warehouse and forward flow facility structures, including advance rates, eligibility criteria, triggers and covenants
• Exposure to live transactions, ideally including term sheet negotiation and legal documentation
• Strong written communication, demonstrated through investment memos or credit papers
• A strong academic background in a quantitative or finance discipline; Python, SQL or a CFA is a plus
• An entrepreneurial mindset and the desire to help build a platform What’s on Offer
• Direct exposure to, and mentorship from, a senior team with top-tier structured credit track records
• Meaningful deal ownership and investment committee visibility from the start
• The chance to shape the firm’s processes, portfolio and culture at a formative stage
• A long-term career path on a growing platform in one of the most active segments of private credit

📌 Investment Associate | Asset-Based Finance (Madrid)
🏢 Gerold & Partners
📍 Madrid