Real Estate Debt - Asset Manager - Private Credit

Company Description Legal & General (L&G) is a leading UK financial services group and major global investor. We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our global asset management business provides our clients and partners with complex, responsible investment solutions, working internationally across public and private markets.

Who we are We are one of Europe’s largest asset managers and a major global investor across public and private markets.

Asset Management is a critical driver of our Group strategy. The business aims to work synergistically with our Institutional Retirement and Retail divisions to benefit our clients and customers, and deliver enhanced shareholder returns.  Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change.

Job Description We are looking for an Asset Manager to be responsible for the management, monitoring and ongoing performance of investments across the UK & European Real Estate Debt Loan Book to support this continued business expansion within a team that is currently small relative to its AUM targets and the complexity of opportunities.

This role is based in Private Credit within our Asset Management division, one of the UK’s largest private credit asset managers with over c. 35 billion of assets under management. Our capabilities encompass Real Estate Equity (direct property) and Private Credit investments – such as real estate, infrastructure, corporate, alternative debt and mortgage investments.

L&G Private Credit has grown its activities in Real Estate Debt (‘RED’) in recent years and has developed a position as a leading institutional investor in this area.  Our RED strategy is focused to senior debt investment lending to a wide range of borrowers and sector types (offices, logistics, industrial, BTR, PRS, student accommodation, retail, healthcare, hotels, self-storage, cold storage and ground rents) across the UK and Europe.  

Transaction sizes vary from 20m - 400m+ and loan terms of 3 – 50 years.  Funding is on behalf of L&G internal and external clients and through external funds.

What you’ll be doing :

Monitoring and managing real estate debt assets, ensuring performance aligns with objectives and preserving or enhancing client value

Analysing financial performance and covenant compliance, reviewing borrower statements, budgets, models, and engaging with management

Overseeing loan servicing activities, liaising with servicers, and reviewing reports, consents, and valuations

Collaborating closely with the Head of Real Estate Debt and deal teams across the loan portfolio

Conducting regular borrower meetings and site visits, discussing operational performance and key risks including ESG and environmental factors

Identifying performance deterioration early, engaging proactively with borrowers, and implementing remedial actions where required

Producing and presenting portfolio updates, including quarterly reviews, focus lists, and deep-dive analyses

Supporting loan amendments, stakeholder coordination, stressed asset management, reporting, and broader business initiatives across the portfolio

Who we’re looking for:

Knowledge and experience of asset management, loan servicing and credit risk either in banks or other financial institutions or intermediaries

Knowledge and experience of real estate debt lending, ideally senior debt. Experience in the management of challenging or distressed situations, restructurings and/or development transactions would be viewed favourably but is not essential

Solid working knowledge of relevant legal documentation for real…