Building Credit Research Across a Seven-Company Portfolio
Ran end-to-end credit research across a live portfolio, synthesizing fragmented industry data into investment-grade notes
Moin Chunawala
Associate at Northern Arc Capital
From their time as
Associate
Northern Arc Capital • 2024
Overview
Moin joined Northern Arc as an Associate stepping into a book of legacy transactions. Over time, the most substantive part of his work became the market research and industry analysis that underpinned each investment note.
The Story
Moin joined Northern Arc as an Associate stepping into a book of legacy transactions. Over time, the most substantive part of his work became the market research and industry analysis that underpinned each investment note.
For every new deal, he built the research from scratch. He pulled IPO prospectuses, industry reports, and competitor filings, identified the patterns that held across sources, and filtered out what was company-specific or potentially biased. The goal was a coherent narrative that an investment committee could interrogate.
He covered a range of sectors, including B2B commerce platforms like Metalbook and Rippler, consumer rental businesses like Furlenco and Rentomojo, and EV lending through Zip Electric. Each sector required a different lens on receivable and inventory risk, and the research had to make that risk legible to the committee.
At any given time, Moin was managing two live deals alongside a portfolio of seven existing clients. He handled the research, the client communication, and the monitoring in parallel, prioritizing by client urgency and deal stage.
He also prepared research reports for the advisors and arrangers who sourced deals into Northern Arc, building a working knowledge of the intermediary landscape alongside the credit analysis.