COMPANY OVERVIEW
KKR & Co. Inc., together with its subsidiaries, is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group.
REAL ESTATE CREDIT OVERVIEW
KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through nine separately capitalized vehicles across our Direct Lending and Securitized Asset portfolios and consists of 50+ dedicated professionals based in New York, San Francisco, Houston and Dallas.
KKR has developed a dedicated services platform, K-Star Asset Management LLC (“K-Star”), to support asset management, loan origination, securities investing, risk management and client experience activities for its commercial real estate credit franchise as it continues to scale. The K-Star team includes industry specialists who oversee special servicing, portfolio analytics, underwriting, stabilized loan asset management, transitional loan asset management, and investment oversight across KKR’s real estate credit portfolio.
POSITION OVERVIEW
K-Star is seeking an experienced, versatile, intelligent, analytical, and proactive asset manager to join the Special Servicing Asset Management team. The asset manager will be responsible for the resolution of distressed commercial real estate loans through negotiated transactions, foreclosure, note sale or litigation, for the benefit of various REMIC Trusts and in accordance with K-Star policies and procedures, PSA requirements, and the Servicing Standard. Additionally, the qualified candidate will collaborate with other team members to monitor portfolio performance for credit and compliance, process transactional requests on performing loans, and underwrite potential bond investments. They will also be expected to participate in special assignments related to the growth of the platform. This candidate must be an exceptional communicator with a goal towards stellar underwriting, deal structure and presentation, and must have the ability to build strong partnerships across KKR’s businesses, including the Firm’s real estate credit originations, legal, finance and asset management teams.
ROLES AND RESPONSIBILITIES
- Work with internal and external Subject Matter Experts and service providers to ensure satisfaction of loan document terms and covenants
- Own and ensure completion of existing processes related to all aspects of asset management, including but not limited to servicing, reporting, legal, operational and valuation activities
- Evaluate and make fact-supported resolution and transactional recommendations for performing and non-performing loans, for presentation to K-Star leadership and other stakeholders
- Work closely with investment team to provide intelligence, analysis and guidance in connection with potential new investments
- Oversee portfolio performance for potential adverse credit issues, keeping up with national, regional and local market dynamics and tenant credit risks and concentrations, and work with appropriate parties to resolve issues
- Analyze, prepare, and report findings and updates on asset/portfolio performance against underwritten assumptions
- Implement and/or enhance established work-streams with the objective of ensuring optimal portfolio results
- Participate in special projects as needed to implement and maximize new technologies to support K-Star’s platform
QUALIFICATIONS
- Bachelor’s degree, preferably in a Business, Finance, or Real Estate-related course of study, or equivalent experience in commercial real estate debt asset management, real estate investment banking, CMBS bond investing or real estate finance
- Minimum of 7 – 10 years of Special Servicing or workout experience preferred
- Fundamental knowledge of commercial real estate, fixed income, and general lending and financial concepts
- Superior analytical and financial modeling skills
- High proficiency with Microsoft Excel, Word, PowerPoint and Outlook; Argus a plus
- Excellent organizational, and communication skills, both verbal and written
- Exceptional attention to detail and thoroughness is a must
- Team Player with collaborative and strong relationship building skills, and with the ability to work independently and in a way that reflects the company’s culture and core values
- Skilled at developing and maintaining personal, social and business relationships representing KKR in a professional manner
- Willingness to travel as needed
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KKR is an equal opportunity employer. Individuals seeking employment are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, or any other category protected by applicable law.
