Job of the Week: Distressed Mid-Market is the Word

This week Highland Capital Management is advertising for a private equity analyst/associate to focus on middle market distressed/special situation investment opportunities.

According to the job vacancy showcased on peHUB’s careers page in association with eFinancial Careers, the analyst/associate will assist in all aspects of the investment and restructuring process.

According to a mid-market report from Deloitte, private equity has seen mid-market deal volumes recover from 2009 lows of 798 deals to reach 1,290 for Q2 2012. These figures are still well below the 2007 level when private equity firms accounted for 1,506 buyouts in the mid-market, according to figures from Thomson Reuters.

Market sentiment in the overall mid-market indicates there is a shortage of quality deals and the ones that do exist are increasingly expensive, according to Deloitte.Thomson Reuters figures suggest the average enterprise multiple/EBITDA multiple for US mid-market transactions for Q2 2012 was 8.2x, up significantly from recession lows of 5.4x in 2009.

In response to these challenges, Deloitte suggests some private equity firms are turning to alternative strategies to generate returns by becoming more aggressive in pursuing new deals and working harder on operational improvement for their portfolios, says Deloitte.

Distressed and special situation mid-market deals are therefore becoming more sought after as illustrated by this week’s job vacancy.

The position is based in Dallas, Texas and according to the job description the successful candidate will “work with investment banks and other intermediaries to identify potential investment opportunities; take a leading role in the evaluation, diligence, structuring and negotiation of potential investments and communicate investment opportunities, merits and risks to the most senior members of the firm.”

In addition, the candidate will be working “with senior operating professionals and portfolio company management to identify and implement value creation projects and perform dividend recapitalizations and exits and will be performing various support projects for the private equity team including building and updating portfolio company valuations, crafting investor update documents, etc.”

To qualify for the position, candidates must have two to eight years post-undergrad experience at a top-tier investment bank, restructuring firm or private equity firm; an undergraduate degree or MBA from a top-tier school; strong analytical and financial acumen, outstanding modeling skills and solid business judgment.

For further details on the position and to apply please click here.

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