Investment Executive, Impact Funds, Intermediated Equity

Team: Investment

Location: London, UK

Employment Type: Permanent

Salary: Competitive

Closing Date: 27 April 2018

Investment Executive, Impact Funds, Intermediated Equity

Our Mission

  • Our mission is to support the building of businesses throughout Africa and South Asia, to create jobs and make a lasting difference to people’s lives in some of the world’s poorest places.
  • We aim to invest in countries where we can have the greatest impact. In countries where the private sector is weak and jobs are scarce.
  • We invest in sectors where growth leads to jobs – both directly and indirectly. In sectors such as manufacturing, agribusiness, infrastructure, financial institutions, construction, health and education. Last year, the businesses we invest in created more than a million jobs. 
  • We are successful because we are a high quality investment organisation, using the best commercial skills and judgement to make investments in great companies and support them to grow over the long term.  We therefore want to attract people with these skills but who are motivated to use them to dramatically improve the private sector in Africa and South Asia
  • For further information, please visit our website cdcgroup.com

The Role

Purpose

CDC is one of the leading providers of development capital to private equity funds in Africa and South Asia.  By supporting locally based investment teams, CDC is developing the local private equity market, human capital and small and medium businesses. These investments are made by the Intermediated Equity team which is divided into three focus areas:

  • Impact Fund – through the Impact Fund portfolio, CDC is able to accept higher risk to achieve particular development objectives such as benefiting excluded or underserved groups and supporting some of the most challenging markets (across both Africa and Asia) in CDC’s mandate.
  • Africa – CDC is the largest single investor in private equity funds in Africa, supporting more than 60 funds across the continent, including Côte d'Ivoire, DRC, Ethiopia, Ghana, Kenya, Liberia, Mozambique, Nigeria, Sierra Leone, Tanzania, and Zimbabwe.
  • Asia – as one of the largest investors in private equity funds in South Asia, CDC supports more than 40 funds investing across the region, including India, Afghanistan, Bangladesh, Pakistan, Nepal, Sri Lanka and Myanmar.

Responsibilities

Specific responsibilites will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:

  • Evaluating new investment opportunities to invest in impact funds, with the objective of selecting fund managers with the most potential developmental and financial impact.
  • Impact funds’ portfolio management responsibilities, including actively monitoring the performance of the funds and their compliance with CDC’s investment policy.
  • Maintain up-to-date market knowledge and relationships.
  • Prepare presentations to support team strategy and CDC’s brand building with stakeholders.

 

Evaluating new investment opportunities 

  • Participate in the design and implementation of market mapping / scoping studies.
  • Engage in the selection of funds which will meet CDC’s financial, development and mobilisation objectives under its mandate, including catalysing new managers.
  • Review investment proposals, prepare investment committee papers, and actively engage in the due diligence process.
  • Ensure incorporation of CDC’s Investment Code, ESG matters, and legal requirements.
  • Review all aspects of fund commitment agreements, assist in the commercial and legal negotiation process.
  • Coordinate with fund managers and other investors to drive investment approvals and closings.

Monitoring investment performance and compliance

  • Active engagement with fund managers (General Partners) and other investors (Limited Partners) related to portfolio issues and ongoing monitoring.
  • Monitor investments through quarterly financial information, advisory board meetings, and regular dialogue with General Partners and Limited Partners.
  • Take a pro-active approach to identify problems of under-performance and/or non-compliance at fund manager level, including in relation to ESG standards, and to propose solutions.
  • Portfolio analysis under the guidance and supervision of senior colleagues.
  • Support the work of colleagues on fund relationships and portfolio management projects.
  • Assist in the monitoring of funds’ development impact, liaising with the ESG team and Development Impact team.

Maintaining up-to-date market knowledge 

  • Support building an effective network in the impact funds business.
  • Develop expertise on investment climate and conditions in relevant African and Asian countries.
  • Specifically, develop and maintain views on economic, political and social conditions in African and Asian markets where CDC’s funds operate, or potentially wish to invest.

The Candidate

Background

  • Experience with private equity fund management, impact investing, and/or fund-of-funds management is desirable.
  • Equity valuation and experience of direct investing.
  • Professional experience in an international environment, including a track record of working in emerging market finance.
  • Strong academic credentials, preferably including a post-graduate qualification such as CFA, ACA, IMC, MBA, Law or equivalent.
  • Detailed working knowledge of and an active interest in investing in developing countries.
  • Demonstrable alignment with CDC mandate, mission and values.

Fund assessment skills

  • Familiarity with most of: financial analysis, PPMs, diligence processes, financial terms, fund legal terms.
  • Potential to develop relationships with fund management teams, investors and market participants.
  • Ability to analyse and benchmark fund / investment performance reports / data.
  • Ability to lead assignments, pro-actively research, analyse and present (written / oral) relevant and concise information for decision making.

Technical Skills

  • Rigorous approach to following fund selection investment process.
  • Knowledge of relevant markets and sectors to enable cross-examination of new fund strategies.
  • Financial modelling and analytical abilities related to company financials / valuation.
  • Portfolio management skills, including techniques for track record analysis, team skills analysis, and an appreciation of the role of ESG.

CDC Identities

  • We look for candidates who share our culture and reflect our identity, the CDC identities are described as follows:
  • Compassion is central to everything we do
  • We owe our clients and prospective clients a fast and thoughtful process
  • We accept the tough challenges inherent in our mission
  • We are quick and non-defensive when things go wrong
  • We oppose bureaucracy
  • We never forget that we are investing and spending tax payers’ money
  • We promote a fulfilling work environment

 

Please submit a cover letter with your application.

Posted on: 29 March 2018

Closing on: 27 April 2018

Salary: Competitive

Apply now