Senior Associate, Private Equity – Healthcare

Senior Associate, Private Equity – Healthcare

About the Organisation:

A global private equity firm with a dedicated healthcare investment franchise is seeking a Senior Associate to join its Munich-based team. The firm invests across the healthcare value chain, with a track record of control and significant minority transactions in established businesses. Capital is deployed with a focus on durable franchises, operational improvement and long-term value creation rather than financial engineering alone.

The healthcare platform is sector-specialised. Investment professionals are expected to develop genuine domain depth (spanning providers, services, life sciences services, medtech and adjacent sub-sectors) and to underwrite businesses against a rigorous view of industry structure, reimbursement dynamics, competitive positioning and operational scalability. The Munich office forms an integral part of the firm’s European healthcare coverage.

The Opportunity:

As Senior Associate, you will work directly with the healthcare investment team on the full cycle of capital allocation: origination support, underwriting, transaction execution and early portfolio work. The role is based in Munich and requires on-site presence.

This is not a generalist associate seat. The firm is looking for someone who can operate with increasing independence on healthcare-specific situations, form a clear view of business quality and risk, and contribute materially to investment judgement. Work product will be reviewed by the partners responsible for the sector. The standard is precision, commercial literacy and the ability to distinguish a well-presented healthcare asset from a durable investment case.

Key Responsibilities:

• Conduct original industry and company research to identify and screen healthcare investment opportunities, with particular attention to market structure, reimbursement, regulatory risk and competitive dynamics across European markets.
• Lead or materially own financial modelling, operating case construction and valuation work on prospective investments.
• Support and, where appropriate, lead workstreams in commercial, financial and operational due diligence, coordinating external advisers without ceding judgement.
• Contribute to the development of investment theses and the preparation of investment memoranda and decision materials for internal investment committees.
• Assist in transaction structuring, negotiation support and execution through closing, including engagement with management teams, sellers and financing counterparties.
• Monitor portfolio company performance and support value-creation initiatives, with a focus on operational improvement, growth initiatives and the translation of underwriting assumptions into post-close priorities.
• Build and maintain relationships with industry experts, intermediaries and advisors within the European healthcare ecosystem.
• Stay current on sector trends, regulatory developments and competitive shifts that affect underwriting and portfolio strategy.

Candidate Profile:

• Several years of relevant experience in private equity, investment banking (healthcare or generalist with strong transaction exposure) or a comparable principal investing or advisory role.
• Demonstrable experience evaluating or executing healthcare transactions, or a clear ability to develop sector depth quickly.
• Strong financial modelling, accounting and valuation skills, combined with the ability to write clearly and defend an investment argument under scrutiny.
• Intellectual independence and commercial judgement. The firm requires candidates who can move beyond process support to form and articulate a view.
• Professional maturity and discretion, with the capacity to engage management teams, advisors and internal stakeholders effectively.
• Fluency in English is required. Strong German is a significant advantage.
• Based in, or prepared to relocate to, Munich. On-site presence is required. Regular travel within Europe is expected.

What Distinguishes This Mandate

The role offers direct exposure to healthcare investing inside a specialised platform, rather than as one of many sectors within a generalist fund. The successful candidate will work close to decision-making on live transactions, develop genuine sector expertise with a European focus, and contribute to both underwriting and the early phase of ownership.

The search is being conducted on a confidential basis. All approaches should be handled with corresponding discretion.