Analyst Transaction Modelling

The Company

Botany Bay Asset Management was set up in 2022 and since then has grown to a team 30 professionals across four jurisdictions providing full scope services to Cheyne Capital including underwriting support, asset management, development project management, loan-on-loan financing and legal deal execution. The team currently manages c.84 loan investments with over £6.1 bn of total commitment of which c.50% is in the UK, 25% in France and the remaining 25% across the rest of continental Europe. Over the last year, the team has also provided underwrite support on 100+ deals requiring various levels of involvement from deal assessment to taking a deal through to the final investment committee and execution.

Our parent company Acepark Ltd., with over 350 members of staff, provides asset management, property management, facilities management, retail, serviced office space, construction and logistics throughout the UK, allowing us to leverage significant resource and skills as required.

The Client

Cheyne Capital is one of Europe's leading alternative asset managers having launched its first fund in 2000 and today managing net assets of more than $8.5 billion across a diversified range of products and strategies such as Real Estate, Credit, Event Driven, Equities and Convertibles.

The Cheyne Real Estate Debt team originates predominantly UK and wider European senior, stretched senior and mezzanine commercial real estate loans, but also participates in joint ventures and equity interests in properties. Most transactions comprise of the repositioning of prominently located assets or new developments within the major regional cities of the UK, and in particular London as well as assets in France, Germany, Spain, Portugal and Italy. Cheyne's new origination loan appetite is in the ticket bracket between £50m to £500m and recent loans and investments include office redevelopments, student housing, residential (built to sell or built to rent), senior living, hotels and logistics.

Main responsibilities

The successful candidate will be expected to carry out the following key responsibilities:

Asset Management Models

Assume responsibility for building and managing Asset Management cashflow models of closed UK and European Loan deals, working in conjunction with the Cheyne transaction portfolio manager and Head of Transaction Modelling.

Track business plan against actual, liaising with the Cheyne portfolio managers on divergences from plan.

Ongoing cash flow modelling of each deal to Fund level, reflecting actuals (interest, drawdowns, leverage, costs) as and when they happen.

Updating models with actual IPDs, corporate expenses and bank movements.

Identify variances between the model and middle office trade postings via tableau, escalating it to Asset managers along with Head of the team and portfolio manager.

Investor reporting and updates as and when required.

Attend financial modelling training sessions and consistently use the format/ best practices in all the new and existing models.

Underwriting Models

Work with Cheyne transaction originator and portfolio manager to build investment cash flow models for new deals and write investment committee papers.

Standardise the underwriting models under the guidance of Head of the team and Cheyne Portfolio Manager.

Assist Loan underwriters to Manage the conditions precedent process.

Help Loan underwriters in drafting deal summaries for Cheyne's investors.

Candidate Requirements

The ideal candidate should have:

Minimum 2 years' experience in real estate finance (real estate lenders, debt funds, real estate advisory firms, Big 4, loan asset management or special servicing)

Strong financial modelling and data management skills.

Good understanding of cash flow and accrual concepts.

An understanding of development finance and development assets would be beneficial

Experience with building, adjusting and updating excel cashflow models

The ideal candidate should:

Be a goal-oriented, highly diligent and motivated individual

Be able to manage multiple priorities

Have strong interpersonal and communication skills

Terms:

Remuneration: competitive salary and discretionary bonus

Employee Benefits:

25 days annual leave plus holiday purchase program (up to 5 days)

Company pension