Associate Private Credit Analyst, Investment Grade

What You'll Do

We are looking to hire an Associate Private Credit Analyst to support our investment grade private credit investment strategy!

Primarily, you will perform in depth, bottom‑up fundamental research on an assigned coverage universe and make investment recommendations to the portfolio management team. You will be responsible for the initial development of company valuation models and underwriting memorandums and will have the opportunity to contribute to other facets of the team’s investment process.

• Evaluate private placement transactions, both investment and non‑investment grade and including traditional private placements, infrastructure, structuring commitments, closing transactions, managing and monitoring existing investments

• Build financial models with both historical performance and pro forma projections

• Develop and maintain relationships with sources of deal flow

• Identify quality businesses with above average fundamentals long term investment horizon (typically 3-5 years)

• Make long‑term investment recommendations for multiple portfolios

• Monitor existing investments within their assigned sector coverage

• Work with Head of Private Credit by making buy or pass recommendations

Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing about $580 billion in assets and over 60 years of experience. Principal Asset Management has been recognized as a “Best Places to Work in Money Management” for 14 consecutive years! Check us out at !

• Bachelor's degree in technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics)

• 2+ years’ experience in fixed‑income strategies in credit analysis, investment banking, private credit, or a related field

• Strong proficiency with Excel and financial modeling

• Financial statement analysis and credit risk assessment experience

• Experience in investment‑grade lending, corporate credit analysis, or private placements

• Experience with the infrastructure sector

• MBA or CFA (or progress towards)

• Familiarity with credit analysis tools and databases such as S&P Capital IQ, Moody’s, or Bloomberg

• Accounting experience

• Demonstrated understanding of economics and investment theories

• An understanding of debt structures, interest rates, and market conditions affecting investment‑grade credit

• Strong understanding of the private credit transaction process, including structuring, negotiation, and documentation

• Ability to build and maintain strong relationships with borrowers, sponsors, and external parties

Salary ranges below reflect targeted base salaries. Non‑sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

$123000 - $167000 / year

Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short‑term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.

No

The position will be based out of Des Moines, IA. You can check out what our Global Headquarters in Des Moines looks like here:

This role offers the ability for in‑office or four days in‑office and one day remote. You’ll work with your leader to figure out which option may align best based on several factors.

At this time we’re not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1‑OPT,…