Oaktree Asset Backed Finance (ABF) is a recently formed strategy which invests in pools of contractual assets, or assets, such as loans, leases, receivables, mortgages and licensing agreements, which may or may not reference property or other hard assets. Asset categories include corporate, consumer, real estate, transportation, equipment, infrastructure, energy, intellectual property and other esoteric types.
The Oaktree ABF strategy
- Purchases, or commits to purchase, assets, with or without leverage
- Lends, or commits to lend, secured by assets, in a senior or mezzanine position
- Insures, or provides capital relief against, assets
- Provides essential capital to a business primarily engaged in the origination and servicing of assets
Oaktree ABF seeks an attorney who will serve as an integral part of the investment team. The candidate will work with Oaktrees investment, legal, marketing and client service teams, as well as with external counsel, to
- Negotiate and document bilateral and syndicated asset financing facilities as both borrower and non-bank lender
- Negotiate and document asset portfolio purchases and sales, as well as ongoing or flow purchase agreements
- Negotiate and document term sheets, letters of intent, servicing agreements
- Ensure limited partnerships, funds-of-one and separately managed accounts have terms appropriate for Oaktree's ABF investment activities (though fund formation will be led by other attorneys)
- Issue 144A/Reg S as well as 4a2 or otherwise privately placed asset-backed securities
- Optimize Oaktree's ABF activities and vehicles to accommodate tax considerations of Oaktree's clients (though tax structuring will be led by Oaktree tax)
- Navigate U.S. Credit Risk Retention rules, European Securitization Regulations and U.K. Securitization Regulations
- Ensure Oaktree's ABF activities comply with applicable consumer protection laws and lender licensing requirements
- Advise on ESG best practices as it relates to asset backed finance
- Optimize Oaktree's ABF activities to accommodate regulatory capital considerations for Oaktree's insurance clients, including U.S. NAIC Risk Based Capital, European Solvency II and ratings.
While Oaktree has significant experience successfully investing client capital in ABF opportunities as a sub-allocation to existing funds, Oaktree ABF represents Oaktree's first client offering dedicated to ABF. Based on the expanding ABF opportunity set and client demand, Oaktree ABF is expected to grow significantly. As such, Oaktree seeks an entrepreneurial and commercial candidate who can work across legal disciplines and learn new topics quickly. The candidate will design structures and solutions which provide flexibility to accommodate strategy growth while allowing Oaktree to continue to capitalize on its various institutional
advantages.While
Experience Required
- 5-10 years as an attorney working in asset backed finance, specialty lending and/or securitization with experience in diverse asset types.
- Excellent communication skills, both written and verbal.
Personal Attributes
The successful candidate should
- Be highly motivated to succeed and to foster the success of his/her teammates.
- Be entrepreneurial and commercial and have the ability to work across legal disciplines and learn new topics quickly.
- Possess outstanding interpersonal skills and a sense of self-awareness.
- Demonstrate the poise, confidence and professionalism to establish relationships, garner support, and engage team members across the organization.
- Be a highly resourceful, natural problem solver who can independently identify and recommend improvements to enhance performance, productivity, and efficiency.
- Be a self-starter who originates ideas and identifies and captures opportunities and can push forward on initiatives with limited oversight or guidance.
Education
Bachelors Degree and Juris Doctor
Equal Opportunity Employment Policy
Oaktree is committed to diversity and to equal opportunity employment. Oaktree does not make employment decisions on the basis of race, creed, color, ethnicity, national origin, citizenship, religion, sex, sexual orientation, gender identity, gender expression, age, past or present physical or mental disability, HIV status, medical condition as defined by state law (genetic characteristics or cancer), pregnancy, childbirth and related medical conditions, veteran status, military service, marital status, familial status, genetic information, domestic violence victim status or any other classification protected by applicable federal, state and local laws and ordinances. This policy applies to hiring, placement, internal promotions, training, opportunities for advancement, recruitment advertising, transfers, demotions, layoffs, terminations, recruitment advertising, rates of pay and other forms of compensation and all other terms, conditions and privileges of employment. This policy applies to all Oaktree applicants, employees, clients, and contractors. Staff members wishing to report violations or suspected violations of this policy should contact the head of their department or Human Resources.
T
he base salary for this role will be $250,000-$275,000
plus a discretionary bonus and
comprehensive benefits package
Equal Opportunity Employment Policy
Oaktree is committed to diversity and to equal opportunity employment. Oaktree does not make employment decisions on the basis of race, creed, color, ethnicity, national origin, citizenship, religion, sex, sexual orientation, gender identity, gender expression, age, past or present physical or mental disability, HIV status, medical condition as defined by state law (genetic characteristics or cancer), pregnancy, childbirth and related medical conditions, veteran status, military service, marital status, familial status, genetic information, domestic violence victim status or any other classification protected by applicable federal, state and local laws and ordinances. This policy applies to hiring, placement, internal promotions, training, opportunities for advancement, recruitment advertising, transfers, demotions, layoffs, terminations, recruitment advertising, rates of pay and other forms of compensation and all other terms, conditions and privileges of employment. This policy applies to all Oaktree applicants, employees, clients, and contractors. Staff members wishing to report violations or suspected violations of this policy should contact the head of their department or Human Resources.