Associate, Direct Lending; Summer

Position Summary

The Associate, Direct Lending, will play a central role on Carlyle's Global Credit team, supporting all aspects of the investment lifecycle. This two-year program is designed for professionals with foundational experience in credit investing or sponsor-backed finance who are looking to deepen their expertise in middle‑market direct lending. Associates are embedded within deal teams and contribute meaningfully to underwriting, structuring, and managing a portfolio of credit investments.

The role leverages AI technologies to streamline operations and enhance decision‑making, while human insight and judgment remain essential.

• Conduct industry research and competitive analysis to support investment decisions
• Build and maintain detailed financial models, including cash flow projections and downside scenarios
• Develop investment memoranda and presentation materials for credit committee review
• Participate in underwriting new transactions, including initial screening, structuring, and term sheet development
• Support legal documentation and transaction execution processes
• Perform ongoing portfolio monitoring, including covenant compliance, performance tracking, and reporting
• Contribute to internal valuation processes and periodic portfolio reviews
• Support investor‑related activities such as fundraising, marketing materials, and data requests
• Prepare sector updates and sponsor coverage materials
• Generate benchmarking and comparable analysis to inform credit structuring
• Draft and refine pipeline summaries and meeting notes for internal use
• Extract insights from third‑party data sources and summarize trends for deal teams

• Deepening thematic insights across core sectors through collaborative research
• Enhancing credit structuring practices with data‑informed refinements
• Strengthening sponsor relationships through proactive engagement and tailored insights
• Driving thought leadership within the direct lending strategy

• Bachelor's degree from an accredited institution required
• Degree in finance, economics, accounting, or a related field preferred
• 2–3 years of experience in direct lending, leveraged finance, restructuring, credit investing, or M&A
• Prior exposure to sponsor‑backed transactions strongly preferred
• Solid financial modeling and valuation skills
• Exceptional analytical capabilities with demonstrated attention to detail
• Ability to manage competing priorities and meet tight deadlines in a fast‑paced environment
• Familiarity with AI solutions that streamline diligence or deal execution workflows is advantageous

$/yr – $/yr

The anticipated base salary is $150,000. Additional compensation may include an annual discretionary incentive program dependent on performance. Benefits include retirement, health, life, disability insurance, paid time off, holidays, family planning benefits, and wellness programs.