Private Equity Principal or Advanced VP, Special Situations, Full-time, Los Angeles

About the Company

This is a newly formed lower middle market private equity firm raising its debut institutional fund, targeting roughly $200 million to pursue special situations: flexible, opportunistic capital deployed into distressed and stressed businesses, rescue and event-driven financings, and complex or illiquid situations that traditional buyout and credit funds tend to pass over. The firm is led by a small, senior investment team based in Los Angeles and supported by a group of remote operating partners.

About the Role

This Advanced VP or Principal role sits on the deal team of a first-time institutional fund built around a special situations mandate, targeting founder- and family-owned lower middle market businesses facing dislocation, complexity, or time pressure, where creative structuring across debt, equity, and hybrid capital creates an edge. You will be one of the first two investment hires as the fund closes its first round of institutional capital, working directly alongside the firm's senior leadership on every deal.

What Makes This Opportunity Compelling

This is a genuine ground-floor seat at a firm in its earliest stage of institutional growth, not a supporting role on a large, established platform. You will own transactions from initial screening through close, help build the analytical and diligence infrastructure of a growing firm, and work directly with senior leadership on structuring, valuation, and portfolio company oversight. The mandate itself is differentiated: complex, dislocated special situations opportunities that most lower middle market funds pass over, backed by an aggressive return target and meaningful carry as a primary economic driver.

The Path Forward

This role carries a genuine, performance-based path to Managing Director as the fund scales and raises subsequent vehicles. Carry is structured to reward builders: typically around 2%, with flexibility toward 3% for the right candidate, vesting over time. As the firm grows past its debut fund, this hire is expected to take on greater deal leadership and, over time, a broader partnership role.

Key Responsibilities

Deal Execution

• Source, evaluate, and lead execution of special situations investments: distressed and stressed businesses, rescue and opportunistic financings, event-driven opportunities (M&A transitions, carve-outs, litigation or regulatory-driven situations), and complex or illiquid assets.
• Drive financial modeling, valuation, and structuring across debt, equity, and hybrid solutions, with a strong emphasis on downside protection alongside upside participation.
• Develop investment theses and manage diligence workstreams and third-party advisors through to close.
• Own transaction documentation and negotiation alongside senior leadership.

Portfolio & Firm Support

• Partner with portfolio company management on performance monitoring, strategic initiatives, and operational improvement post-close.
• Help build the firm's investment processes, tools, and diligence infrastructure as an early team member.
• Mentor and help onboard junior investment staff as the team scales.
• Represent the firm in the market with intermediaries, advisors, and industry contacts to help build deal flow and reputation.

Professional Experience & Qualifications

• 7+ years in private equity, special situations, distressed debt, or related investing, with meaningful reps executing transactions from inception to close.
• Direct experience with distressed, rescue financing, event-driven, or complex/illiquid investments strongly preferred.
• Genuine lower middle market fluency; comfort with founder- and family-owned businesses.
• Strong financial modeling, structuring, and negotiation skills across debt, equity, and hybrid capital.
• Self-directed builder who can operate without heavy infrastructure and set a high bar for a growing team.
• Entrepreneurial orientation, genuinely motivated by carry and long-term equity upside, not solely by cash comp.
• Willing and able to be on-site in Los Angeles, CA.