Position Title: Partner – Private Credit/Mezzanine Fund (SBIC)
Location: Flexible (Preference for candidates on the East Coast: Philadelphia, DC, or NYC)
Type: Full-Time, Leadership Role
Start Date: TBD – (Contingent on the SBIC license approval process). To be discussed in-person.

About the Opportunity:
Alliance Holdings, a private equity firm specializing in the lower middle market, is planning to incubate a new mezzanine credit fund/firm that will operate independently from Alliance Holdings and have its own dedicated management team. As anchor investor, Alliance Holdings will support the new fund’s launch, which will focus on subordinated debt and equity solutions for lower middle-market companies. The fund will operate as an SBIC (Small Business Investment Company) and will be a generalist in terms of sector focus, allowing for diversified investments across various industries to support growth, acquisitions, and recapitalizations.

Position Summary:
The Partner will play a foundational role in establishing this new fund, overseeing its SBIC application process and helping to define and lead its investment philosophy and approach. The new Partner will work closely with another Partner, a current Alliance Holdings team member, who will guide the launch of the new fund as lead Partner. Together, they will shape the fund’s investment strategy, build a team, and drive all initiatives required to launch an SBIC fund. Alliance Holdings seeks an entrepreneurial leader with significant experience in mezzanine financing and a strong origination track record. The Partner will benefit from substantial incentives, including a significant share of the fund’s economics.

Key Responsibilities:

• SBIC Fund Launch and Application:
  • Actively guide the SBIC application process, working with regulators and advisors to secure the fund’s SBIC license.
  • Contribute to fund-building efforts, from shaping strategy to establishing operational processes, ensuring the fund’s successful launch and development.
• Investment Strategy and Execution:
  • Define and execute the fund’s investment strategy in subordinated debt and equity co-investments, aligned with the fund’s strategic goals.
  • Focus on originating high-quality deals within the lower middle market across a broad range of sectors, managing the entire investment process from sourcing to execution.
• Deal-Origination and Structuring:
  • Drive origination efforts by leveraging an extensive network across private equity, banking, and related sectors.
  • Structure and negotiate subordinated debt and equity co-investments, ensuring thorough due diligence and alignment with fund objectives.
• Portfolio-Management and Value-Creation:
  • Actively monitor and manage portfolio performance, collaborating with management teams to maximize value.
  • Oversee risk management, portfolio diversification, and adherence to SBIC guidelines.
• Fundraising and Investor Relations:
  • Engage in fundraising activities, working alongside the lead Partner (current Alliance Holdings team member) to secure ~30% of the fund’s total target capital. According to SBIC licensing rules, Alliance Holdings, as anchor investor, can contribute no more than 70% of the fund’s total capital.
  • Build and maintain strong relationships with banks, financial institutions, family offices, and other LPs.
  • Represent the fund and communicate regularly with investors, providing updates on performance, strategy, and the SBIC process.

Qualifications:

• Experience:
  • Minimum of 10+ years in private credit, mezzanine financing, or related fields, with a strong focus on deal origination and a successful track record of sourcing subordinated debt and equity investments.
  • Extensive Investment Committee experience, ideally 5 years or more, or comparable experience leading deals end-to-end. Exceptional candidates with fewer than 5 years of Investment Committee experience will be considered if they have led at least 10 transactions, including 5 successful exits.
  • Prior experience with an SBIC fund or regulatory process is highly advantageous.
  • Demonstrated ability to launch, grow, or operate in a fund-building environment is preferred.
• Skills:
  • Expertise in subordinated debt and equity investment structuring, with deep knowledge of the credit space.
  • Demonstrated breadth of experience in originating and leading the underwriting and execution of sponsored/non-sponsored transactions.
  • Proven track record in a similar strategy fund.
  • Strong relationship-building skills and an extensive network for originating deals and managing bank relations.
• Education:
  • Bachelor’s degree in Finance, Business, or a related field; MBA or CFA designation preferred.

Ideal Candidate:
We are seeking a seasoned professional currently serving as a Partner/senior team member at an existing mezzanine fund who handles the full spectrum of fund-management duties, including originations, underwriting, portfolio management, and fundraising. This role is designed for someone ready to step out of their comfort zone and take on the unique challenge of building a new fund from the ground up. The ideal candidate will have extensive expertise but may lack the desired level of fund economics in their current role. We want someone with a strong entrepreneurial drive and a long-standing ambition to launch and manage a new fund.

Compensation:
The Partner will receive a significant share of the fund’s equity/carry (target fund size is $100M), with the size of the carry contingent upon the Partner’s level of experience, drive, and active contribution to establishing and growing the fund.

Please send resume to Ibrakhim Ibragimkhodjaev at ibrakhim@allianceholdings.com