Experienced Summer Intern - Infrastructure Equity (MBA, MSc or equivalent)

About BII

British International Investment is the UK’s development finance institution, owned by the UK Government. With a mission to solve the biggest global development challenges, we aim to create a virtuous circle of investment and impact. Your contribution will be essential. 

It won’t be easy: we do the hardest work in the most complex markets. Be prepared to test your skills, get creative and say your piece as you take on high-profile work as part of a diverse team of exceptionally smart, passionate people. 

In return, you can take your career to all-new places in a culture that rewards curiosity and collaboration, and balances high performance with wellbeing.

BII at a glance

75 years supporting sustainable business growth in developing and emerging markets

£8.1 billion in net assets

1,400+ businesses invested in

950,000 workers in the businesses we support

£9 billion in new investments planned in the next 5 years

600+ people in our diverse global team

3 key development objectives: Productive | Sustainable | Inclusive

The Team

• BII’s Infrastructure Equity Team for Africa & Pakistan invests equity and equity-like capital in businesses in infrastructure sub-sectors such as power generation/ transmission/distribution, transport, and water, across Africa, Asia and the Indo-Pacific.
• Over the past 10 years the team has built a $1bn+ portfolio of 10 exciting developmental assets in Africa & Pakistan including a controlling stake in leading Africa independent power producer, Globeleq (assets in 8 countries), and partnerships in Africa with top tier international groups such as DP World in ports and logistics (Senegal, Somaliland, Egypt), Scatec and the Aga Khan groups in hydropower (Uganda, Rwanda, Burundi, DRC, Malawi), and Metito in water. The team has also invested in leading BEE renewables player in South Africa, H1, in a renewables joint venture in Pakistan with a Pakistani industrial sponsor, and a rural renewables utility in north-eastern DRC.
• Our typical equity investment size is $20-200m of growth capital for expansion.
• The team comprises 13 investment professionals. The team structure is designed to be very flat; employees at all levels are involved across all aspects of deals and portfolio management and in presenting to important stakeholders such as Investment Committee and external third parties.
• The Infrastructure Equity Team for Africa & Pakistan is part of the Infrastructure and Climate department which is one of three investment team verticals.
• For reference, the title structure at BII is Graduate Analyst, Associate, Executive, Manager, Director and MD.

The Role

• The Intern will support the work of the Infrastructure Equity team in the origination, evaluation, and execution of new investments and portfolio management of existing investee companies.
• Tasks will include research and strategy work, initial assessment of new opportunities, financial modelling, valuation analysis, due diligence, and portfolio management activities, as well as assisting and liaising with other relevant transaction support teams such as Environmental & Social, Business Integrity, Climate, Development Impact, Gender and Diversity Finance, among others.

Responsibilities

Deals:

• Assessing investment proposals for deals that fit within BII’s developmental and investment mandate.
• Analysing financial information relating to specific companies.
• Building or analysing financial models and conducting sensitivity analysis.
• Assisting with reports to be presented to investment committee for approval and participating in the meetings.
• Conducting detailed valuations on companies using various methods.
• Assisting with the due diligence on a specific company, sector, and country.

Portfolio Monitoring:

• Working with investees and preparing periodic reports to help in the monitoring of investees financial and strategic performance.

Business Development:

• Undertaking research into regions, countries, and sub-sectors on an ad-hoc basis. This will include providing support to sector mapping exercises.
• Undertaking research relating to specific businesses or projects.
• Keeping up to date with market developments and monitoring factors that can affect the markets and considering how these might affect the pipeline and portfolio companies.
• Monitoring the financial news and updating the team of material information in target countries, sub-sectors and companies.

The Candidate (please note, this programme is not for undergraduates) 

Essential

• University degree or equivalent and currently enrolled in an MBA or equivalent programme

Ideal

• Prior work experience in Sub-Saharan Africa in business, financial services, professional services, consulting;
• Interest in development;
• Experience in financial modelling and analysis;
• Analytical and research skills and ability to make commercial assessments;
• Understanding of debt and equity investments and the challenges/issues involved with a type of investment
• Ability to work on multiple projects across products and sub-sectors while working to deadlines and managing time effectively;
• Business communication and presentation skills;
• Relationship building skills and ability to develop a network of relevant external contacts, as well as internally across different teams;
• Proficient in Microsoft Excel, PowerPoint, Word.

Desired

• Existing experience in infrastructure sector is welcome but not essential if a candidate without existing experience is able to display an active interest in learning more about the sector. 

Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

• Impact-led, commercially rigorous
• Tenacious in the face of challenges
• Collaborative and caring

British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background. 

Application Process 

• Please provide a cover letter with your application, and tell us why you would like to join the Summer Internship at BII, and why you have chosen to apply for this business area / team
• Please apply for one internship only
• Position opened: 28 October 2024
• Position closes: 01 December 2024
• Salary: £65,810 (pro-rated over 8 or 10 weeks)

Please note BII will pay for flights to London for those studying internationally