Private Equity Fund Associate - Wells Fargo Strategic Capital Fund Investing Division

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application.

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Commercial Banking provides financial solutions to businesses with annual sales generally in excess of $5 million. Our business lines are Wells Fargo Commercial Capital, Middle Market Banking, and Treasury Management & Payment Solutions.

Wells Fargo Commercial Capital

• A market-leading provider of working capital, investment capital, trust services, and sales financing solutions that help customers optimize liquidity and grow their business through their lifecycle

The Fund Investing Division at Wells Fargo invests bank capital in private equity and private debt funds. Fund strategies include buy out, structured equity, venture capital, mezzanine and other market approaches. The group offers a comprehensive platform for fund investments by leveraging its long term relationships, industry clout and Wells Fargo trusted resources to earn strong performance benchmarks. The Fund Investing Division sits under Wells Fargo Strategic Capital (“WFSC”) and draws on Wells Fargo's strong breadth and depth of relationships, product offerings, and expertise to provide value-added solutions. Applying its relationships and resources, FID serves businesses through three distinct structures:

• As a Limited Partner (LP), the team invests into private credit and private equity funds. Investments are executed through Volcker complaint structures.
• Co-investment, the team invests alongside respected fund managers, sponsors, and other WFSC divisions. As a co-investor, we make direct debt and equity investments into businesses.
• General Partner (“GP”), the team assists Wells Fargo Strategic Capital (“WFSC”) through the Bank Managed SBIC Fund. As a GP, the greater WFSC team sources, diligences, decisions and monitors direct investments into businesses that are structured into the bank’s fund.

Wells Fargo has been investing in SBIC and other types of funds for over 30 years and works closely with the research analysts, attorneys and advocacy groups that support fund investments. A leader in the private investment field, the Fund Investing Division carefully examines the provision of growth capital, acquisition financings, balance sheet / dividend recapitalizations and management or shareholder buyouts to preserve capital and earn a premium on debt and equity capital. The team is comprised of investment professionals with experience in private equity investing (both direct co-investing and as a fund LP), fund management, investment banking, management consulting, impact investing, and deal sourcing. The Associate position offers a tremendous opportunity for a high-energy candidate who is a motivated self-starter.

As a member of lean deal teams, this Associate will have the opportunity to participate in all aspects of the investment process by providing support to the team in all aspects of potential and active investments where key job responsibilities include, but are not limited to:

New Business
Helps to source new SBIC and other types of private equity funds by complete the initial deep dive into the data due diligence, helping to generate approval memos, engage in committee approval discussions, complete necessary compliance requirements, work with external legal counsel on LPA, subscription, side letter, closing process.

Portfolio Management
Monitor performance through quarterly reports, participate in advisory committee calls, capital calls and distributions, risk rate and quarterly/annual memorandums.

Industry benchmarks
Create private equity benchmarks through interaction with 50+ fund managers and 2,000 underlying companies.

Compliance and Operations
Respond to exam requests (RAR, Credit) and compliance needs (operational, regulatory, compliance, etc.), LEIF, Accounting transactions, etc.

Interaction with fund managers
Develop relationships with fund managers to ask for co-investment opportunities, complete surveys, ask to attend Wells Fargo events and gather industry best practices.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

• 1+ year of experience in one or a combination of the following: investment banking, capital markets, private equity, commercial banking, merchant banking, direct investing, consulting, or operations in any above area

• Ability to take on a high level of responsibility, initiative, and accountability
• Excellent verbal, written, and interpersonal communication skills
• Strong analytical skills with high attention to detail and accuracy
• Strong accounting skills
• Advanced Microsoft Office (Word, Excel, and Outlook) skills

• 2+ years work experience in one or a combination of: venture capital, private equity, investment banking, or strategy consulting
• Familiarity with evaluating and executing transactions related to private equity, venture capital, or credit related products.
• Passion for, knowledge of, and experience in the capital markets or technology industry preferred.
• Strong integrity, work ethic, and a team player
• Strong skills in financial modeling (e.g., analyze financial statements, create financial models, private capital valuation methodologies)
• Graduate level degree (e.g., MBA) or equivalent expertise preferred
• Ability to work independently or in teams and thrive in a fast paced, loosely-structured, entrepreneurial environment
• Curiosity and eagerness to learn

• Ability to travel up to 10% of the time

TX-HOU-Downtown: 1000 Louisiana St - Houston, TX
NY-New York: 30 Hudson Yards - New York, NY
CA-Irvine: 2030 Main St - Irvine, CA

All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Benefits

Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.