Associate – Private Equity Investment

Job Description

Investment Associate | 42 Asset Management

The Tone:
This is a full-time role at 42 Asset Management, located in New York City. 42 AM is an SEC-registered investment adviser and insurance-focused asset manager providing customized private credit, asset-based finance, and fixed income strategies to U.S. life & annuity insurers and affiliated reinsurance platforms. The firm integrates institutional investment underwriting with hands-on operating expertise across insurance, capital markets, and specialty finance, currently managing approximately $700 million in AUM. This role is central to a lean, entrepreneurial private-equity style investment team, operating at the intersection of financial services-focused private equity, private credit, and insurance balance sheet investing, and spans the full deal lifecycle with significant responsibility.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: In-person, New York, NY
• Pay: $100000–$150000 yearly
• Team: Investment team, reports directly to senior leadership
• Mission: To contribute to all stages of the investment lifecycle for private credit, asset-based finance, and insurance-backed assets, integrating complex insurance-specific considerations.

What You’ll Actually Do
• Investment Underwriting & Evaluation: Build detailed financial models, cash-flow projections, and valuation analyses across various asset classes, while conducting comprehensive commercial, financial, and operational due diligence.
• Deal Execution: Support all components of transaction execution, including deal structuring, term sheet negotiation, documentation review, and closing processes, coordinating with external advisors like legal and actuarial consultants.
• Origination and Sector Research: Participate in thematic research across key verticals such as specialty finance and insurance solutions, track market dynamics, and build relationships with lenders, originators, bankers, and operating partners.
• Portfolio Monitoring and Value Creation: Monitor portfolio performance, KPIs, credit trends, and collateral reporting, support ongoing interactions with insurer and reinsurer partners, and contribute to strategic initiatives and board-level materials.
• Internal and Cross-Functional Responsibilities: Collaborate with senior team members across asset management, reinsurance strategy, operations, and investor relations, preparing analytical materials for LPs and clients, and developing internal processes.

The Must-Haves
• Background: Investment Associate with a strong academic record, demonstrating core domain knowledge in investment banking and/or private equity.
• Experience: 3–4 years in investment banking and/or private equity with the demonstrated ability to lead transactions and a track record of success.
• Skills: Advanced financial modeling, valuation analysis, credit quality assessment, collateral composition analysis, structural protection evaluation, and excellent writing and oral communication skills.
• Bonus: A desire for meaningful ownership, broad transaction exposure, and the opportunity to help build a scaled alternatives platform that combines private-equity value creation with institutional insurance asset management.