Associate, Liquid Credit Research

Company Profile

The Carlyle Group (NASDAQ: CG) is a global investment firm with $485 billion of assets under management, across 678 investment vehicles as of June 30, 2026. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 2,500 professionals operating in 28 offices in North America, Europe, the Middle East, Asia and Australia.

Carlyle's purpose is to connect people, ideas, and capital to fuel growth for companies and performance for investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments
- Global Private Equity, Global Credit and Carlyle Alp Invest - and has deep expertise across industries, markets, and geographies. At Carlyle, we believe that a wide spectrum of experiences and viewpoints drives performance and success. Our CEO, Harvey Schwartz, has stated that, "To build better businesses and create value for all of our stakeholders, we are focused on assembling leadership teams with the strongest insights from a range of perspectives."

Reflecting this view, emphasis is placed on development, retention and inclusion through our internal processes and seven Employee Resource Groups (ERGs). We cultivate a culture where ideas are openly shared and challenged, connecting diverse expertise and perspectives to drive enduring value.

The Loans & Structured Credit team generally focuses on performing senior secured bank loans rated below investment grade in the U.S. and European markets. Investment professionals practice a disciplined, anticipatory investment approach that is focused on identifying investment opportunities and proactively managing credit and market risk. Through stringent credit selection and monitoring, the team seeks to avoid defaults and maximize recoveries.

The team also engages in active trading to improve credit quality. The Loans & Structured Credit strives to achieve high current income from quarterly or semi-annual cash distributions. The Loans & Structured Credit team has long-standing close relationships with arrangers of leveraged finance and secondary market makers and also has the benefit of Carlyle's extensive network and strong relationships with the financial community.

The team sources assets from both the primary and secondary market and has deal flow relationships with all major counter parties active in the U.S. and European leveraged finance markets, as well as strong relationships with nearly all private equity sponsors in these regions. Loans & Structured Credit investment approach is highlighted as follows:

• Industry Research:
  Develop/maintain a point of view on industry trends, drivers and economics;
• Financial Analysis:
  Analysis of assigned credits with particular focus on cash flow as well as on/off balance sheet assets and liabilities; the analyst will be expected to build/maintain predictive financial models;
• Valuation Analysis:
  Analysis of transaction values, DCF and public values to express a view on asset protection as well as market value and ultimately recoveries in a default scenario;
  Capital structure analysis including an assessment of credit agreement and indenture provisions;
  Relative value analysis and the ability to express a view of an investment risk / return profile;
• Monitoring of portfolio positions and summarizing relevant information for daily morning meetings;
• Ensure assigned credit information is complete and accurate on internal information systems;
• Maintain confidentiality of all sensitive and confidential issues;
• Special projects as assigned.

• 1-3 years of prior buy side credit and /or sell-side high yield loan/bond research experience preferred; experience covering Financial Services or Technology is also preferred (though not a requirement);
• Strong quantitative, analytical and modeling skills (using Excel);
• Self-Starter, takes pride in work product, excellent communication (both written and oral) and interpersonal skills, curiosity/interest in credit and investing;
• Strong organizational skills and attention to detail;
• Demonstrated ability to work effectively as part of a team;
• Bachelor's degree required.

The compensation range for this role is specific to New York, NY and takes into account a wide range of factors including but not limited to the skill sets…