Investment Associate, Asia, Funds & Capital Partnerships

Team: Investment

Location: Mumbai

Employment Type: Permanent

Salary: Competitive

Closing Date: 24 August 2020

Investment Associate, Asia, Funds & Capital Partnerships

 

Our Mission 

  • CDC is the UK’s development finance institution. Founded 70 years ago, we invest in the most challenging markets of Africa and South Asia with the aim of supporting economic development. CDC has net assets of £5.1bn, with over 1300 growing businesses in the portfolio.
  • Last year we committed over £1billion of capital across 50 transactions. 
  • CDC is wholly owned by the UK government, who has committed a further £3.5bn of capital for CDC to deploy over the next two to three years.
  • We are expanding our presence in Africa and South Asia with further new offices openings in 2020.
  • At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
  • Primarily, CDC invests to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
  • CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 400 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

 

Team and role overview

The Funds and Capital Partnerships team at CDC invests in private equity and credit funds in Africa and South Asia, deploying approximately $500 million annually across our Growth and Catalyst portfolios.

It also takes the lead inside CDC on mobilising capital into our markets and on establishing partnerships with financial and operating partners to develop new investment products that further enhance our ability to invest in some of the more challenging regions and sectors in Africa and South Asia.

There are 6 levels in Funds and Capital Partnerships: PA, Associate, Executive, Manager, Director and MD. This role is a Associate level role reporting to the Director, Asia, Funds & Capital Partnerships.

The Asia team will be based in Mumbai and focuses on investing and monitoring private equity funds, managed accounts, co-investments and other intermediated investment vehicles across South Asia. The team takes a hands-on, patient approach to develop the private equity and credit industry across South Asia, ensuring the right teams, strategies, skills and sectors are focused on in order to make underlying businesses sustainable in the long term.

 

Purpose

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:

  • Support in evaluating new investment opportunities to invest in Asian funds, tailored intermediates structures and co-investments, with the objective of selecting teams with the most potential financial and developmental impact.
  • Research on trends, innovations and intermediated transaction opportunities across in South Asia
  • Asia funds’ portfolio management responsibilities, including actively monitoring the financial performance and development impact 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.
  • Maintaining deal pipeline report

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; this may also include supporting the deal lead in 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 Asia funds business.
  • Develop expertise on investment climate and conditions in relevant Asian countries.
  • Specifically, develop and maintain views on economic, political and social conditions in Asian markets where CDC’s funds operate, or potentially wish to invest.

 

The Candidate

Background

  • Experience with private equity fund management and/or fund-of-funds management is desirable.
  • Typically gained from relevant professional experience within Private Equity, Fund-of-Funds, M&A, Equity Research, Investment Banking or Corporate Finance
  • Demonstrable active interest in investing in Asian countries. An understanding and comfort with emerging market environments, with a willingness to travel within South Asia
  • 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

  • Demonstrable professional approach and ability to develop relationships
  • Understanding and comfort with emerging market environments
  • Knowledge of relevant markets and sectors to enable cross-examination of new fund strategies.
  • Strong technical writing ability
  • 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’s Values

We look for colleagues who are

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

 

CDC is committed to diversity and inclusion and welcomes all applicants regardless of gender, age, educational background, national origin, ethnic origin, disability, sexual orientation and religion.

 

Please include a cover letter with your application 

 

Role opened: 20 July 2020

Role closes: 24 August 2020

Salary: Competitive 

Apply now