Investment Manager, Private Equity Funds and Co-Investments (Mumbai)
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
Team and role overview
Industries, Technology and Services Group (“ITS”) consists of five sub-teams – i) Technology & Telecoms, ii) Manufacturing, Agribusiness and Forestry, iii) Consumer Services and Social Infrastructure, iv) Private Equity Funds & Co-Investments (PEFCO). We use equity, debt, and intermediated (primarily funds) investment instruments to reach our target sectors. The PEFCO team covers generalist funds and co-investments.
PEFCO is involved in sourcing, executing and managing fund investments and co-investments in Asia and Africa that are aligned with BII’s strategy around Productive, Sustainable and Inclusive impact. The PEFCO team closely collaborate with sector teams to achieve BII’s objectives.
PEFCO takes a hands-on patient approach to backing funds that are aligned with BII’s impact objectives across BII’s target markets, ensuring the right teams, strategies, skills and sectors are in place to make underlying businesses successful and impactful in the long term. PEFCO also focuses on co-investing alongside the funds in the portfolio which allows us to target our capital to deals aligned with BII’s objectives.
There are 5 levels in the team – Associate, Executive, Manager, Director & Team Head. In practice, people at all levels are involved in all aspects of our work and transactions including presenting to Investment Committee and representing BII externally. Directors and Managers act as deal and portfolio leads/oversights.
Responsibilities
Specific responsibilities will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:
• Lead role in managing a portfolio of funds in BII target markets (predominantly South Asia for now, could expand over the years), including actively monitoring the financial performance and development impact of the funds and their compliance with BII’s investment policy
• Lead role in sourcing, analysing and executing new fund investments and co-investments, with the objective of selecting fund managers/co-investments with the highest potential financial and developmental impact
• Working with BII’s Environmental and Social, Business Integrity, Development Impact, Climate, Gender and Diversity, Legal and Finance teams in support of both fund selection and relationship management
• Building and nurturing relationships with key stakeholders in Asia to support portfolio management and investment origination
• Travelling to BII target geographies to conduct onsite meetings as required
• Keep up to date deal flow, deal management and portfolio monitoring databases for all funds on which s/he is a team member
• Maintaining up-to-date market knowledge and relationships
• Leading the preparation of presentations to support team strategy and BII’s brand building with stakeholders
• Supporting and coaching junior team members in the PEFCO team and in deal teams
• Collaborating with colleagues across BII, including providing sharing market perspectives gained via our investments
Managing investment portfolio
• Formally, through the receipt and analysis of quarterly financial information and representing BII in advisory board meetings,
• Informally through active engagement with the fund managers, other investors, and other organisations active in the regional business community
• Collaborate with all teams across BII to support and add value to our investees and to drive synergies for BII from our portfolio • Preparing materials and analysis for BII Portfolio Review
• Taking a pro-active approach to identify problems of under-performance and/or non-compliance at fund manager level
Evaluating new investment opportunities
• Building an effective network in the PEFCO business, including co-investments (including mapping the portfolio companies and pipeline for co-investments), direct debt and equity and Technical Assistance opportunities
• Leading in the selection of funds which will meet BII’s objectives, including using BII internal tools for mapping proposals and implementing market scoping studies as relevant
• Reviewing proposals and preparing screening papers and, where relevant, leading the due diligence process on fund and assessment of co-investment proposals
• Leading in the preparation of recommendations to the Investment Committee and taking proposals through the Investment Committee process
Reviewing documentation and negotiating fund commitments
• Reviewing all aspects of transaction documentation and leading the negotiation process
• Engaging with fund managers and other investors, as potential issues arise, including regarding fee, investor rights, reporting, and compliance with BII’s side letter Page 3 of 3
• Seeking input early from Environmental and Social, Business Integrity, Development Impact, Climate and Gender and Diversity, Finance and Legal teams and working alongside them in the investment process of each new fund Maintaining up-to-date market knowledge
• Develop and maintain expertise on the economic, political and social conditions in BII markets and share internally and externally where relevant
About You:
• Suitable experience in private equity fund management and/or fund-of-funds management
• Proven business experience in an international environment, including a track record of working in emerging market finance • Deal leadership experience, including managing and coach the junior deal team members.
• Equity valuation and experience of direct investing desirable
• Good academic credentials, preferably including a post-graduate qualification such as CA/ACA/CIMA, CFA, IMC, MBA or equivalent
• Rigorous approach to fund assessment and experience with relevant investment processes • Familiarity with diligence processes, financial terms, legal terms
• Ability to analyse and bench-mark fund / investment performance reports / data
• Ability to develop relationships with fund management teams • Knowledge of relevant markets and sectors to enable cross-examination of new fund strategies
• Portfolio management skills, including techniques for track record analysis, team skills analysis and an appreciation of the role of ESG
• Demonstrable professional and collaborative approach and ability to develop relationships within BII as well as externally
• Strong written and verbal communication skills
• Willingness to travel within BII target markets
• Current Resident / willingness to be resident of Mumbai
• Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to impact 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.
