Investment Associate, Debt, Project Finance
- 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 2019.
- 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 300 and place immense value on diversity within our organisation.
- Read more about us on our website cdcgroup.com
The Associate will support the work of the debt team from the origination to the execution and monitoring of debt transactions within the Project Finance Team. This will include research and strategy work, the initial assessment of new opportunities, credit analysis, due diligence, and portfolio management activities, as required, as well as liaising with other relevant transaction support teams (Legal, Environmental and Social, Business Integrity and Development Impact).
An experienced Associate will be capable of:
- Analysing new debt propositions, preparing screening and credit proposals, including financial analysis and modelling, as well as preparing monitoring papers.
- Completing discrete due diligence tasks such as company, industry and economic analysis.
- Reviewing legal documentation together with the internal legal team.
Due diligence, credit analysis and deal execution:
- Supporting senior members of the team and colleagues working on new debt proposals.
- The Associate will be responsible for analysis, including: sector / market analysis; company / borrower analysis (including credit analysis and financial modelling); macro-economic analysis.
- Responsibility for drafting the relevant sections of investment proposals.
- Over time, the Associate will gain experience in all aspects of credit assessment and due diligence, and will take responsibility for a broader range of due diligence and deal completion related work.
- Supporting role on monitoring the portfolio of existing loans.
- Responsibilities include: reviewing company reports; monitoring compliance with covenants; flagging any potential credit issues and preparing monitoring papers for review by CDC’s investment committee.
- Updating internal systems such as eFront as required.
Research and strategy:
- Contributing to sector and country strategies; collecting market data and other ad-hoc research and analytical activities relevant to CDC’s debt business.
- Keeping up-to-date with deal-flow, deal management and portfolio monitoring databases for all transactions covered by the debt team.
- At least two years of relevant experience within a DFI or banking/investment environment, preferably with exposure to project finance.
- University degree in finance, economics, corporate finance accounting, or other relevant degree. CFA, ACA or MBA would be an additional advantage
- Analytical and research skills (including the ability to analyse company reports, sector data, macroeconomic and relevant political events);
- Credit analysis skills and ability to analyse a company’s financial statements and make commercial assessments;
- Financial modelling and excel skills;
- Ability to work on multiple projects across products and sectors while working to deadlines and managing time effectively;
- Good business communication and presentation skills;
- Evidence of relationship building and ability to develop a network of relevant external contacts, as well as internally across different teams;
- As a member of a small team, a flexible and “hands on” approach is a prerequisite;
- Foreign language skills, particularly those spoken in CDC’s geographies (e.g., French, Portuguese, etc.) would be an additional advantage;
- An active interest in investing in developing countries and understanding of emerging market environments, with a willingness to travel;
- Demonstrable alignment with CDC’s mandate, mission and values.
Candidate values / traits
Candidates must be strongly motivated by CDC’s proposition.
- An awareness of and appreciation for CDC’s objectives;
- Evidence of alignment with CDC’s development impact objectives (through work history, volunteering or other personal activities);
- An appreciation of CDC’s activities and a passion to be part of CDC’s continued growth;
- History of working with 'best in class' employers;
- Appropriate periods with each previous employer and explicable career moves;
- The flexibility and desire to spend time in the countries in which CDC invests;
- An understanding of the remuneration and its structure, with the trade-offs it requires;
- Willingness to take time to support colleagues.