Senior Analyst​/Associate, Credit Investments

ABOUT US

We’re one of Canada’s largest pension investors, with CAD $320.6 billion of net assets as of March 31, 2026. We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

PSP’s Credit Investments (CI) group manages a global portfolio of approx. US $25 billion across more than 125 portfolio companies, with investors located in New York, London and Montréal. The team develops long-term partnerships with leading private equity sponsors, direct lenders and companies, and invests across private and broadly syndicated transactions and across the capital structure. Products include first and second-lien, unitranche, and delayed-draw term loans, revolvers, private or public high-yield notes, Hold Co PIK notes and preferred equity.

In addition, the team is actively deploying capital for a new Investment Grade mandate and Infrastructure Debt sub-strategy. CI works across asset classes through PSP’s One PSP culture to optimize relationships and investments.

As a Senior Analyst or Associate, Credit Investments, you’ll:

• Investment analysis and transaction underwriting
• Perform preliminary analysis of CI investment opportunities: review equity, fixed income, and ratings reports as well as public information and existing credit documents
• Participate in due diligence of CI investments, identify key investment merits and risks, meet with management teams, review data-room documentation, and third-party reports
• Act as lead in building and reviewing detailed financial models, including running and analyzing multiple operating scenarios
• Assist the team in drafting legal documentation, such as commitment papers
• Participate in the preparation of investment recommendation memorandums for investment decisions.
• Actively participate in the presentation of investment proposals to the Investment Committee
• Interface with Legal, Risk, and Tax groups in the review of proposed investments
• At the Associate level, independently manage defined transaction work streams, coordinate team deliverables and provide technical guidance, feedback and coaching to less experienced team members
• Portfolio monitoring and investment administration
• Lead the review of portfolio-company financial reporting, covenant compliance and operating performance
• Prepare and present periodic portfolio reviews, risk assessments and recommendations, and track performance against internal Risk Management Group guidelines
• Coordinate follow-up actions with portfolio companies, sponsors, internal partners and external advisers, including amendments, waivers and other portfolio matters as required
• Contribute to portfolio analytics, valuation, reporting and process improvements, and interface with Accounting and Internal Control as required

• Bachelor’s degree in business, finance, accounting, economics or a comparable discipline, with strong academic standing
• Two (2) to four (4) years of relevant experience in investment banking, leveraged finance, private credit, credit research or buy-side investing; the final level will reflect the depth and breadth of demonstrated experience
• Strong financial modelling, investment judgement, accounting analysis and valuation skills
• High attention to detail,…