Managing Director- Equity Research Analyst- BDC's

We are seeking an experienced and highly driven Managing Director to lead our Equity Research coverage of the Business Development Company (BDC) sector in Washington D.C. This is a senior, client-facing role responsible for building a differentiated research franchise, delivering high-impact insights, and driving meaningful revenue through institutional client engagement.

The ideal candidate will bring deep expertise in credit markets, private lending, and income-oriented equities, along with a proven track record of building relationships with institutional investors and corporate management teams.

Key Responsibilities:

• Lead and own coverage of the BDC sector, establishing a top-tier research franchise with differentiated, value-added insights
• Publish high-quality research including initiation reports, earnings notes, thematic pieces, and sector outlooks
• Develop and maintain complex financial models with a focus on NAV, dividend sustainability, credit quality, and portfolio risk
• Drive revenue generation through client engagement, idea flow, and partnership with sales & trading
• Cultivate and expand relationships with corporate management teams, private credit sponsors, and industry participants
• Provide actionable investment recommendations and maintain a strong, visible presence in the BDC and broader credit markets
• Collaborate cross-functionally with sales, trading, and capital markets to support broader firm initiatives
• Mentor and develop junior analysts and associates, fostering a high-performance research team

Qualifications:

• 10+ years of experience in equity research, credit research, or related financial services roles, with meaningful sell-side experience preferred
• Demonstrated expertise in BDCs, private credit, leveraged lending, or structured finance
• Strong understanding of the regulatory framework governing BDCs (1940 Act), portfolio construction, and yield-driven investment strategies
• Proven track record of institutional client engagement and revenue generation
• Exceptional financial modeling and valuation capabilities
• Established relationships with buy-side clients and corporate management teams
• Outstanding written and verbal communication skills, with the ability to articulate complex ideas clearly and persuasively
• Bachelor’s degree required; MBA and/or CFA strongly preferred