Equity Investment Manager or Director, Consumer Businesses Team focusing on Technology and Telecoms

Team: Investment

Location: London, UK

Employment Type: Permanent

Salary: Competitive

Closing Date: 03 September 2018

Equity Investment Manager or Director, Consumer Businesses Team focusing on Technology and Telecoms

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

  • Contribute to the development and implementation of a strategy for CDC’s private equity investments in the technology and telecoms sector across Africa and South Asia. We currently have investments in leading e-commerce, online learning and mobile payments players, and plan to make $300m of new investments in the sector over the next 3 years. Our priority sub-sectors include fibre connectivity, data centres and enterprise software services. Our typical investment is in the range $20-200m
  • Working with the rest of the Consumer Businesses as part of team leadership to help define team strategy, mentoring of junior team members and to potentially help lead investments in other sub-sectors within the team
  • Work with the Head of Consumer Businesses and the other Investment Directors (both in London and in our offices in South Asia) to contribute to the overall development of CDC’s private equity business, including helping to manage and develop a team of high-quality investment professionals.
  • Develop and maintain a broad understanding of the TMT sector in Africa and South Asia with a view to:
  • Identify trends, opportunities, issues, etc.
  • Develop understanding of potential target companies, relationships with their shareholders and senior management, insight into their businesses, etc.
  • Develop and maintain a broad network of potential co-investors, joint-venture partners, advisers, bankers, non-executive directors, etc.
  • Maintain up-to-date knowledge and expertise on conditions in the emerging markets and specifically the economic, political and social conditions in markets where CDC operates, or potentially wishes to operate.
  • Lead thorough research on potential investments in target companies, trends in industry/sectors, country analysis and monitoring performance of portfolio companies.
  • Lead deal teams to analyse and evaluate new investments including comprehensive legal, financial and commercial due diligence, with lead responsibility for preparing recommendations to CDC’s Investment Committee.
  • Build strong relationships with company management and lead negotiations with companies, management and other investors to conclude successful private equity transactions.
  • Engage actively with the relevant portfolio companies’ post-investment, in order to drive and manage performance of the investments from a commercial, developmental and ESG perspective.
  • Take a pro-active approach to building value and to resolving problems of under-performance and/or non-compliance at investment level.
  • Advise other areas of CDC (such as Debt and Funds) on matters related to TMT.
  • CDC is also in the early stages of considering the launch of a direct venture capital strategy, whilst it is likely that this will have an independent team, it will be incubated within the Consumer Businesses team and it is likely that the manager/director in TMT will play a role in its strategy and formation.

Responsibilities

  • Reporting to the Consumer Business Head and together with him and the rest of the Consumer Businesses team, you will take primary responsibility for CDC’s private equity deal origination and execution activities with relation to TMT across Africa and South Asia;
  • Establish and maintain relationships in Africa and South Asia with a range of potential investee companies and partners to generate deal flow of the best quality;
  • Apply commercial judgement to ensure that CDC’s deal teams work on the right deals at the right time in accordance with the overall Consumer Businesses Team;
  • Prepare investment reports and communicate the rationale for investing in the target company to the investment committee together with a balanced view of the risks, opportunities and potential financial and developmental returns;
  • Conduct a thorough analysis on the potential investment; and find mitigating factors to manage risk;
  • Conduct a detailed valuation on companies using various methods, compare valuation against trading companies and past transaction. Provide detailed analysis on valuation;
  • Conduct a thorough due diligence on a company, sector, and country.
  • Manage third party due diligence advisors to achieve well-run transaction processes;
  • Apply good judgment and historical analysis to issues or problems discovered during due diligence, and formulates sounds plans to mitigate problems;
  • Keep up to date with market developments and all other areas that can affect the markets, e.g. movements in the economies of relevant countries;
  • Put in place appropriate post-investment portfolio management strategies and where appropriate represent CDC on governance boards in portfolio companies;
  • Develop collaborative working relationships with the other CDC teams, especially Funds, Debt, ESG, Legal and Finance and maintain compliance with CDC’s policies and procedures;
  • Track progress of investments against agreed measures including ESG.

 

The Candidate

Background and Competencies

  • University degree or equivalent qualification;
  • Extensive private equity investment experience including having led multiple transactions from origination through portfolio management and ideally to exit;
  • Transaction experience across emerging markets preferred, particularly Africa and South Asia;
  • Specific TMT sector and transaction experience in some or all of our target sub-sectors also significantly preferred;
  • Interest in development finance/impact investing;
  • Strategic thinker, able to contribute to the formulation and implementation of sector strategies in the emerging markets context;
  • Experience of structuring, negotiating and reviewing investment proposals;
  • Equity valuation, financial structuring and experience of direct investing;
  • Strong portfolio management skills and proven ability to drive value in portfolio companies;
  • Comfortable communicating with all levels of management internally and externally;
  • Strong numerical, analytical and problem-solving skills;
  • Ability to work to deadlines and manage multiple projects effectively;
  • Demonstrable alignment with CDC mandate, mission and values.
  • Ability to lead sector-mapping and to create a clear investment strategy within the TMT Sector;
  • Commercial judgment and ability to assess risk and opportunity in potential investments;

Personal Skills

  • Strong team working and management skills
  • Focus on achievement of objectives
  • Strong written and oral presentation skills
  • Speaks out – makes intelligent contributions
  • Works out solutions independently

 

Please include a cover letter with your application

Role Posted on: 07/08/2018

Role Closes on: 03/09/2018

Salary: Competitive

Apply now