About Private Capital
The Barrenjoey Private Capital business focusses on investments in private markets assets (equity, credit, real estate assets or social purpose), matching them to various forms of private capital such as large institutions, foundations, family offices through to high-net-worth individuals.
Since 2022, Barrenjoey Private Capital has raised ~A$5bn AUM across 14 offerings, serving 1,300+ institutional and wholesale clients.
Barrenjoey is merging with ASX-listed Magellan Financial Group, subject to ACCC approval, and the merger will enhance the Group's offering to corporate, institutional and government clients and deepen our global distribution.
About the role
Barrenjoey Private Credit is seeking a Portfolio Credit Analyst to join the Barrenjoey Asset Backed Income Fund (ABIF) team. BABIF invests in mezzanine notes of Australian residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) transactions, targeting risk-adjusted returns through selective, disciplined credit underwriting.
The Credit Analyst will work closely with and report directly to the Senior Portfolio Manager, supporting the full investment lifecycle from origination and analysis through to portfolio monitoring and investor reporting. The role will also be supporting the broader private credit agenda including the execution and launch of new funds.
The role is well suited to a candidate with a strong foundation in structured finance or credit analysis who is seeking to develop expertise in Australian securitisation markets and funds management.
Responsibilities
Investment Analysis and Due Diligence
- Prepare investment committee memoranda for new RMBS and ABS transactions, incorporating pool analysis, rating agency presale report review, structural assessment, and investment recommendation.
- Conduct loan file due diligence reviews on warehouse portfolios, assessing borrower identity, serviceability, credit quality, and asset verification across RMBS, ABS, and SME asset classes.
- Analyse pool cut data, arrears performance, prepayment behaviour, and loss history across underlying collateral pools.
- Review Fitch, S&P, and Moody’s presale reports and rating agency methodologies relevant to Australian RMBS and ABS transactions.
- Research originator and servicer credit quality, including review of financial disclosures, ASIC filings, and relevant market intelligence on non-bank financial institutions.
Portfolio Monitoring and Reporting
- Maintain and update portfolio holding records for private credit funds and for ABIF’s underlying investments, tracking key characteristics using details sourced from issuers monthly investor reports.
- Monitor ongoing arrears, credit enhancement levels, trigger events, and other surveillance metrics for transactions in the portfolio, flagging material developments to the Senior Portfolio Manager.
- Assist in the preparation of monthly and quarterly investor updates, including economic commentary, portfolio activity summaries, and performance metrics, with attention to accuracy and consistency of language.
- Support preparation of Investment Committee meeting materials and minutes, including portfolio review summaries, proposed trade approvals, and administrative matters.
Fund Development and Support
- Support the preparation of materials for the launch of new private credit funds, including fund documentation, investment committee papers, and investor-facing materials across corporate credit and real assets strategies.
- Assist with data compilation, financial analysis, and modelling tasks required during the establishment and execution phases of new fund launches, adapting analytical skills across asset classes as needed.
- Contribute to operational and reporting setup for new fund strategies, including the development of portfolio tracking templates, performance reporting frameworks, and investor update materials.
Market Intelligence and Research
- Monitor developments in private credit including new products, entrants and other activities.
- Monitor Australian RMBS and ABS market activity, including new issuance, spread movements, rating actions, and regulatory or macro developments relevant to the portfolio.
- Track developments at non-bank financial institutions (NBFIs), credit funds, and other originators in the warehouse and securitisation pipeline, including credit events and structural changes relevant to BABIF’s due diligence framework.
- Contribute to internal briefings and competitor analysis for private credit, including comparison of Fund’s positioning against peer credit funds and market participants.
About You
- 2–5 years of experience in structured finance, credit analysis, or a related investment role, with exposure to RMBS, ABS, or securitisation preferred.
- Demonstrated ability to prepare clear, well-structured written analysis, including investment memoranda or credit committee papers.
- Strong quantitative and analytical skills, including experience working with pool-level or loan-level data in Excel or similar tools.
- Understanding of credit enhancement structures, waterfall mechanics, and trigger frameworks in securitisation transactions.
- Tertiary qualification in finance, economics, law, or a related discipline.
- Familiarity with Australian non-bank lending and the NBFI sector, including residential mortgage, equipment finance, and SME lending asset classes.
- Experience reading and interpreting rating agency presale reports (Fitch, S&P, Moody’s) in the context of Australian RMBS or ABS transactions.
- Experience conducting loan file due diligence or credit audits on retail or commercial loan portfolios.Progress towards or completion of CFA, CA, or equivalent professional qualification.
- Proficiency with Python, VBA, or other data tools for credit analysis or portfolio management workflows.
- High degree of accuracy and attention to detail, particularly in written analysis and numerical work.
- Self-motivated and outcome-oriented, with the internal drive to progress work independently, meet deadlines, and follow through on commitments without close direction.
- Intellectual curiosity and a genuine interest in credit markets, structured finance, and macroeconomic developments.
- Strong written and verbal communication skills, with the ability to present complex credit analysis clearly and concisely to investment committee and investor audiences.
- Ability to manage multiple workstreams concurrently, including live transactions, ongoing surveillance, and reporting obligations.
- Collaborative and collegial working style, suited to a small, high-performing team environment.
