Senior Associate / Investment Manager | Transition Private Credit

We are adding one Associate and one Investment Manager to the team. You will play a pivotal role in originating, structuring and executing tailor-made private credit solutions, and in shaping the next phase of a strategically important growth area for PCP. The Transition investment team provides senior secured financing to mid-market businesses and projects across decarbonisation, the circular economy and resilient infrastructure, supporting capex, M&A and refinancings. We are a small, international team in Stockholm, part of M&G's £73bn private markets business. That combination offers the entrepreneurial feel of a boutique, the backing of a global platform, and real responsibility and senior exposure from day one. About P Capital PartnersP Capital Partners (PCP) is a leading European multi-strategy private credit asset manager. We help entrepreneurs and family-owned businesses grow and sustainable technologies scale, and have invested approximately EUR 5bn over the last 20 years. PCP recently became part of M&G Investments' £73bn private markets business, complementing its established £19bn private credit platform. PCP TransitionThrough our Transition strategy (AUM EUR ~700m), we provide private credit to European projects and businesses that contribute meaningfully to decarbonization, the circular economy and resilient infrastructure, with a focus on the underserved mid-market. We design mainly senior secured, tailor-made financing for capex, M&A and refinancings. We stay actively engaged throughout the investment lifecycle, pairing rigorous underwriting with hands-on portfolio support. The Transition team is a highly international group of five professionals, and English is the working language across the firm. The RoleThe Transition team is growing, and we are looking to add two motivated and driven team members: one Associate and one Investment Manager. You will play a key role in the origination, evaluation, execution and ongoing management of investments across the Transition strategy. You will work closely with the senior team in a collaborative environment and be expected to operate with a high degree of autonomy. We are looking for self-starters with strong credit judgement and modelling skills. You should be able to screen opportunities, form an initial view on risk and structuring, and propose preliminary commercial and credit terms. You will take ownership of transactions from screening through closing and contribute actively to negotiations and investment committee discussions, with the level of responsibility reflecting your experience. ResponsibilitiesOriginationScreen inbound opportunities and prepare initial investment assessmentsMaintain the origination pipeline alongside senior team members Investment analysis, modelling and due diligenceCarry out detailed credit and investment analysisBuild and maintain bottom-up financial modelsSupport commercial due diligencePrepare credit memoranda and investment committee materials Transaction executionReview documentation, coordinate advisors and manage closing processesNegotiate commercial and financial terms alongside senior team members Portfolio monitoringTrack portfolio performance and covenant complianceIdentify early warning signals and contribute to proactive credit and risk managementPrepare portfolio and asset-level reporting Strategy, team and investor relationsHelp refine underwriting frameworks, monitoring tools and investment processesContribute to sector research and thematic workSupport fundraising, investor reporting and marketing materials What We're Looking For2–7 years of relevant experience in project finance (borrower or lender), private credit, private equity or debt advisory, with title set according to experienceStrong financial modelling skills, including integrated operating models, scenario analysis and downside casesHands-on familiarity with project finance or complex financing structures and their documentationA structured, detail-oriented approach to underwriting, due diligence and documentationGenuine interest in European energy transition, infrastructure and sustainability themesA proactive, ownership-driven mindsetExcellent written and verbal communication skills in EnglishStrong work ethic, integrity and long-term ambition in private markets investingNice to have: prior private credit or infrastructure investing experience, exposure to asset-heavy or transition sectors Why PCPWe offer an entrepreneurial environment with significant responsibility, close senior exposure and the opportunity to help build a differentiated European transition-focused private credit strategy. The role is based in Stockholm.