Credit Research Intern

About Us

BSP is a leading alternative credit manager dedicated exclusively to unlocking opportunity in this fast-evolving market. Founded as an early pioneer in the space, we have guided investors through multiple market cycles with discipline, creativity, and resilience.

Alternative credit is what we do. Our expertise spans direct lending, real estate debt, liquid credit, structured credit, and other alternative credit strategies. This depth of specialism, coupled with global reach and long-standing local relationships, enables us to connect investors with tailored, high-quality opportunities designed to deliver attractive, risk-adjusted returns across conditions.

We are a wholly owned subsidiary of Franklin Templeton, one of the world’s largest asset managers. This partnership provides the strength and scale of a global institution while preserving our investment and operational independence. The integration of Alcentra in 2022 added two decades of European expertise, creating one of the most diversified alternative credit platforms worldwide. Together, we offer clients the benefits of BSP’s agility, specialization, and entrepreneurial culture, supported by Franklin Templeton’s resources, infrastructure, and $1.68 trillion in assets under management.

Today, we manage $92 billion in assets for institutions and individuals globally. Our heritage, partnership culture, and enduring relationships continue to set us apart, enabling us to deliver flexible, high-quality credit solutions and consistent, risk-adjusted returns for our investors.

Position Overview

We are looking for a motivated, detail-oriented individual to join the European Liquid Credit Research team as a either a Junior Credit Research Analyst or Intern/Graduate to cover the leveraged loan and high yield bond markets, primarily in Europe, while closely collaborating with our U.S. team. The ideal candidate will be intellectually curious, collaborative and able to support multiple senior analysts in evaluating credit risk of existing investments, as well as potential new investment opportunities. A robust understanding of financial statements is a must, and financial modelling skills are required. Beyond modelling, the role will also entail other forms of due diligence, including summarising and analysing earnings results, interacting with management teams, and synthesising third party research, including sell-side and rating agency research. Overall, the role will play a key role helping the research team evaluate, both qualitatively and quantitatively, the credit risk of our investments in leveraged loans and high yield bonds.

Responsibilities

Responsibilities include but are not limited to:

• Financial model construction and maintenance

• Collaboration with senior analysts to diligence existing and potential investments utilizing all available resources: Bloomberg, 3rd party research, expert networks, etc.

• Understanding and analysing credit terms and documents

• Analysis of relative value and comparable transaction analysis, including creation and maintenance of standardized relative value comparison tables

• Construction of credit papers for presentation to Investment Committee(s)

• General industry analysis on assigned sector(s)

Qualifications / Skills

The successful candidate will ideally possess:

• Up to 2 years of experience analysing financial statements, ideally with a leveraged finance / credit focus; internship and junior analyst candidates will be considered

• Familiarity with leveraged credit markets and investment funds

• Strong Excel technical and modelling skills, ideally including financial modelling

• High attention to detail

• Intellectual curiosity and willingness to learn