Investment Director

Business Area:
Private Markets Place of Work:
London Contract Type:
Permanent When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts.

Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.

About the role

In your role as Investment Director, you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to lead the origination, underwriting, execution and ongoing management of Private Credit & Alternative Income investments. The role combines principal investing, transaction leadership, portfolio ownership and team development across structured finance, asset-backed lending, securitisation and other bespoke private credit opportunities.

The successful candidate will originate differentiated investments, lead complex transactions, make formal recommendations to investment committees and protect value throughout the investment lifecycle.

What you will be doing

As a trusted part of the Private Markets team you will be responsible for:

Origination and Strategy Develop and execute origination strategies aligned with PCAI priorities and USS portfolio objectives.

Source direct opportunities, partnerships, co-investments, funds and structured solutions through relationships with sponsors, banks, advisers, asset managers and corporates.

Identify attractive themes and build actionable origination roadmaps across private credit and alternative income markets.

Represent USS externally and strengthen its position as a sophisticated, reliable long-term capital partner.

Underwriting and Transaction Leadership.

Lead the full underwriting process, including commercial, financial, credit, legal, tax, operational and ESG diligence.

Form an independent investment view on risk, return, downside protection, relative value and portfolio fit.

Lead structuring and negotiations across economics, covenants, security, intercreditor arrangements, governance rights and documentation.

Coordinate between internal stakeholders and external advisers, ensuring disciplined execution against timelines and decision points.

Prepare and present formal investment recommendations to the Private Markets Investment Committee and other governance forums.

Portfolio and Asset Management Maintain senior accountability for allocated investments from closing through repayment, refinancing, restructuring or exit.

Monitor performance against underwriting assumptions and ensure emerging risks, covenant issues and strategic opportunities are identified early.

Lead material waivers, amendments, extensions, refinancings and stressed or complex credit situations.

Present portfolio updates and action recommendations to Portfolio Review Committees and senior stakeholders.

Leadership and Team Contribution.

Provide line management, coaching and technical guidance to junior investment professionals.

Set high standards for analytical quality, judgement, accountability and communication across transaction teams.

Contribute to PCAI strategy, prioritisation, resource allocation and continuous improvement of investment processes.

Promote collaboration across PCAI, PMG and wider USS teams.

About youWe know that sometimes people can be put off applying for a job if they don't tick every box, if you're excited about working for us and have most of the skills or experience we're looking for, then please apply, regardless of whether you meet all the requirements outlined in this profile.

To be successful in the role you will have:

Significant experience in structured finance, asset-backed lending, securitisation or a related principal-investing discipline.

Demonstrated track record leading complex transaction underwriting, structuring, documentation and execution.

Ability to lead negotiations independently and exercise sound judgement on credit, commercial and legal matters.

Strong origination network and evidence of developing opportunities through long-term market relationships.

Accountability for proactive asset management, including amendments, refinancings and downside situations.

Advanced financial modelling, valuation, downside analysis and recovery assessment skills.

Strong understanding of capital structures, security packages, covenants, intercreditor arrangements and lender protections.

Experience preparing and…