Founding Partner — Capital Formation
The Opportunity
Silver Ledge Capital is a private credit fund manager being formed by the founders of New Silver Lending, a technology-enabled lender in the residential transition loans (RTL) space. The fund will invest in residential transition and ground-up construction whole loans (~9.5–11% coupons), expanding into warehouse and other related verticals as it scales. This is an opportunity for the right, entrepreneurially minded and experienced individual, to partner with us at the ground level.
What This Seat Is — And Is Not
This is a founder seat, not a job. There is no base salary until the fund reaches its first close. Compensation is GP equity in the management company, carried interest participation, and a market salary that activates at first close.
You will be taking founder risk alongside the existing partners, who are funding the build. We are deliberately not hiring a salaried head of IR. We are looking for someone who has considered launching their own firm, understands what that risk profile means, and would rather do it with an institutional-grade origination engine, a differentiated structure, and a live seeder process already underway — instead of from zero.
The Mandate
Own the institutional fundraise end-to-end: strategy, pipeline, materials, and closing responsibility for the $250 M first close and beyond
Co-lead the active seed-investor negotiations, including term-sheet strategy and management of parallel seeder conversations
Build and own relationships across the institutional LP landscape: seeders and strategic platforms, insurance general accounts, consultants and OCIOs, funds-of-funds, endowments and foundations, and large family offices
Select, negotiate with, and manage placement agents where they add value; own consultant coverage and databases
Sit on the management company's leadership team and shape firm strategy, product roadmap, and the Phase 2 interval-fund conversion
Who We Are Looking For
10+ years raising institutional capital for private credit, real estate credit, or specialty finance strategies — at a fund manager, placement agent, or seeding platform
A personal, attributable track record of institutional capital raised — you can name the LPs, the checks, and the funds
Live, current relationships with allocators relevant to a $250M–$1B evergreen private credit vehicle; seeder and insurance-channel relationships are especially valuable
Fluency in fund structures and terms: evergreen and hedge-style vehicles, revenue-share seed economics, gates and lock-ups, REIT sleeves, and eventually registered (interval fund) products
Entrepreneurial disposition: comfortable with ambiguity, document-forward, and willing to build materials and process, not just work a rolodex
Financial capacity and temperament to work without a base salary for a defined runway period
Appropriate securities licensing history (e.g., Series 7/63/82) or a clean path to operating within the issuer exemption; unblemished regulatory record
Economics & Structure
GP equity: own part of the management company, vesting over time or milestones, with founder-level participation in the incentive allocation
Pre-close: no base salary; optional: modest expense draw / deferred compensation accrual payable at first close
Post-close: market base salary activates at first close, funded from the management fee stream and OpCo economics
Title path: Founding Partner at signing; Managing Partner, Capital Formation as AUM milestones are met
Alignment: to be discussed