KKR

Principal, Structured Products & ABF

KKR  •  $175k - $230k/yr  •  New York City, NY (Onsite)  •  2 hours ago
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Job Description

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

TEAM OVERVIEW

The Insurance Investments team is a group of 45 dedicated professionals with deep connectivity to the broader KKR platform. A tenured team with experience across market cycles, it operates with direct access to KKR's global resources across Private Equity, Global Macro & Asset Allocation, Real Assets, and Credit & Markets.

Global Atlantic's (GA) Co-Chief Investment Officers, together with the Investment Committee, retain ultimate control over the investment portfolio, including strategy and asset allocation for GA's balance sheet and its sponsored third-party vehicles. KKR's investment teams provide the asset-class expertise and scale to directly originate high-quality assets suited to insurance balance sheets, based on the strategies and guidelines GA sets.

This is a senior role on the KKR Insurance Investments Structured Credit team reporting directly to the Portfolio Manager. The team oversees capital deployment and portfolio management across a wide variety of asset classes spanning the risk/return and liquidity spectrum, including residential real estate, consumer finance, small business, transportation, equipment, renewable energy, infrastructure, commercial real estate, and CLOs, expressed across securities, whole loans, direct lending, whole assets, and platform investments.

This individual will be integrally involved with all aspects of the investment process for all structured and asset-backed credit, including: evaluating potential investments and executing transactions, developing strategies to increase origination, tracking markets, assessing relative value across asset classes, determining asset allocation and portfolio construction, designing portfolio rotation trades, and managing existing positions. As the primary point of interface between the Insurance business, KKR PMs, and KKR structured credit traders, they will drive execution of Global Atlantic's (GA) investment strategy within structured credit and enable firmwide collaboration across structured credit asset classes.

Ideal candidates have ~6 - 10 years of experience across structured products asset classes in an investments role (e.g. trading, portfolio management, or investment/asset management). The ability to analyze relative value across products and present and communicate ideas in group settings is essential. We are looking for candidates with exceptional technical and interpersonal skills and strong relationships across the street and investor community, with a preference for a strong background in residential and commercial real estate.

RESPONSIBILITIES

1. Tracking Markets & Generating Relative Value Views

  • Continuously monitor structured products markets (RMBS, CMBS, ABS, CLO) as well as adjacent liquid and illiquid sectors, tracking spreads, new issue economics, technicals, and relative value across asset classes
  • Regularly consume research and form market views, including an understanding of where peers are allocating capital
  • Generate cross-sector relative value ideas through market research and coordination with KKR structured credit traders
  • Distribute regular market color and relative value commentary to the broader investment team and firm stakeholders
  • Present market themes, positioning recommendations, and relative value analysis to internal committees and senior leadership

2. Asset Allocation & Portfolio Construction

  • Translate market views and relative value analysis into actionable asset allocation recommendations (e.g., which sectors to overweight/underweight, duration positioning, fixed vs. floating rate mix, liquidity)
  • Support the PM in designing GA's capital deployment strategy across structured credit, incorporating economics, capital efficiency, and ALM considerations
  • Track the new issue pipeline and market themes to ensure alignment with deployment objectives

3. Portfolio Rotations & Active Positioning

  • Design and recommend portfolio rotation trades to improve yield, capital efficiency, and ALM positioning (e.g., shifting sector allocations, rotating short-term positions into permanent allocations, extending or shortening duration)
  • Monitor the existing portfolio for risks and opportunities, identifying positions to trim, hold, or add to based on evolving market conditions
  • Collaborate with the PM and KKR structured products traders to execute portfolio trades

4. Dealer Engagement & Market Interface (External)

  • Regularly interface with the dealer community to understand product flows and market dynamics, and communicate KKR Insurance objectives and axes to the Street
  • Gather intelligence on peer positioning (other insurers, asset managers, banks) and communicate that competitive intelligence internally
  • Flag time-sensitive opportunities and actionable new issue deals to the PM for decision-making

5. KKR Interface & Deal Support (Internal)

  • Serve as the primary point of interface with KKR investment as they screen opportunities, iterating on needs and axes, assessing how trades fit the broader investment plan, and providing real-time feedback to accommodate deal timelines
  • Supply market context and comparables for deals the team is evaluating (both traded and privately originated)
  • Collaborate across asset classes to facilitate investment decision-making

QUALIFICATIONS

  • Bachelor's degree in Finance, Economics, or a related field
  • ~6 - 10 years of experience in structured products in an investing role
  • Deep knowledge of structured credit asset classes, with experience in residential and commercial real estate most highly prioritized
  • Demonstrated ability to form independent views on relative value across structured credit sectors and express conviction; a “relative value thinker” who naturally sees the cross-sector opportunity set rather than analyzing any single product in isolation
  • Strong existing relationships with both sell side and peer institutions and a demonstrated ability to source market intelligence and read competitive positioning through personal networks
  • Exceptional interpersonal skills; personable, relationship-driven, and comfortable being the primary point of contact with KKR investment teams and communicating ideas to senior leadership across the firm as well as external parties (e.g., banks, issuers, investors)
  • Strong presentation and communication skills; able to present market themes and relative value analysis clearly to senior stakeholders and internal committees, and to author market color that is concise, quantitative, and actionable
  • Energetic, inquisitive self-starter with the initiative to take on high-impact projects, comfortable operating independently in a fast-paced market environment with minimal supervision
  • Proficiency with Bloomberg and standard structured credit analytical tools (Intex, TREPP, etc.)
  • Knowledge of insurance company-specific investment and accounting considerations (NAIC capital charges, RBC, ALM, duration management) a plus
  • Comfort using AI-powered tools to improve productivity and quality of work

Joining the KKR Insurance Structured Credit team offers a unique opportunity to serve as a senior member of one of the largest and most active insurance portfolios in structured credit. If you have deep structured credit background, strong technical and communication skills, and ability to assess and analyze asset relative value across asset classes, we invite you to apply and join our team.

This is the expected annual base salary range for this New York-based position. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.
Base Salary Range
$175,000$230,000 USD

KKR is an equal opportunity employer. Individuals seeking employment are considered without regard to race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, or any other category protected by applicable law.

KKR will provide reasonable accommodations as required by applicable federal, state, and/or local laws. Individuals seeking an accommodation for the application or interview process should email Benefits@kkr.com Emails sent for unrelated issues, such as following up on an application, will not receive a response.

If you are a qualified individual with a disability or a disabled veteran, you may request a reasonable accommodation if you are unable or limited in your ability to use or access https://www.kkr.com/careers because of your disability. You can request reasonable accommodations by sending an email to Benefits@kkr.com Only emails left for this purpose will be returned.

Massachusetts Applicants: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. This notice applies only to applicants and employees who work or will work in Massachusetts, in accordance with applicable state law.

KKR

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities.

KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

For additional information about KKR (NYSE: KKR), please visit www.kkr.com. For additional information about Global Atlantic Financial Group, please visit www.globalatlantic.com.

KKR will never request personal information, account details, payments and transfers over digital chat applications, social media, email or through SMS: https://www.kkr.com/security-and-fraud-awareness

Industry
Finance & Insurance
Company Size
10,000+ employees
Headquarters
New York, New York
Year Founded
Unknown
Website
kkr.com
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