Investment Associate, Corporate Debt Team

Team: Investment

Location: London, UK

Employment Type: Permanent

Salary: Competitive

Closing Date: 05 January 2019

Investment Associate, Corporate Debt Team

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 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 Role

Reporting to the Head of Corporate Debt, this role will contribute to the continuing expansion and development of the Corporate Debt direct investment business through origination, structuring, execution and monitoring of debt investment opportunities that meet CDC’s commercial and development impact criteria.

The role is focused on debt transactions across CDC’s geographies (Africa and South Asia) and in sectors that would support significant employment creation such as healthcare, education, agribusiness, general manufacturing, telecoms, industrials and real estate.

There are 5 levels in the team – Associate, Executive, Manager, Director & Team Leader – and there are 3 parts of the job (at all levels):

  • Strategy & Origination –finding & evaluating investment opportunities, and building and maintaining relationships with companies;
  • Deal Structuring & Execution – analysing investment opportunities in detail, conducting due diligence, navigating the Investment Committee process, agreeing legal terms; and
  • Portfolio monitoring – engaging with Borrowers to monitor performance and contribute in areas where we can help achieve better outcomes from a financial, impact, E&S or governance perspective.

 

At Investment Associate level, you will spend the majority of your time on Deal Structuring & Execution and Portfolio Monitoring, and responsibilities will include:

  • Deal Structuring & Execution:
  • Completing discrete due diligence tasks such as company, industry and economic analysis. Managing any external consultants engaged as part of the due diligence process.
  • Liaising with potential borrowers by way of information gathering, questioning and deal negotiation.
  • Producing financial models including cash flow analysis, debt sizing and sensitising for the purpose of assessing commercial viability of a transaction, determining optimal capital structure and assisting in client negotiation.
  • Drafting term sheets and reviewing legal documentation together with the internal legal team.
  • Identifying transactions risks and how these can be mitigated.
  • Managing the engagement of support teams (Environmental, Social, Business Integrity and Development Impact), ensuring all internal stakeholders can achieve their objectives.
  • Preparing detailed credit papers that capture all of the above for presentation and recommendation to CDC’s investment committee.
  • Portfolio Monitoring:
  • Supporting role on the portfolio of existing loans.
  • Responsibilities include reviewing company reports, monitoring compliance with covenants, flagging any potential credit issues, reviewing any waiver requests or amendments, preparing and presenting monitoring papers for consideration by CDC’s investment committee.
  • Keeping up-to-date deal-flow, deal management and portfolio monitoring databases for transactions covered by the corporate debt team.
  • Ensuring the maintenance of a high-quality portfolio post-disbursement including financials, development impact and environmental, social and business integrity, leveraging internal specialists as needed.
  • Strategy & Origination:
  • Supporting the identification of new debt investments by utilising CDC’s relationships with commercial banks, other development finance institutions and clients directly.
  • Preparing pitch books and other marketing materials that effectively communicate CDC’s investment priorities and credit risk appetite to partners and clients.
  • Contributing to market-mapping exercises, where relevant, in close co-operation with other teams in CDC as well as help research and develop targeted debt origination strategies to focus our investment into sectors and geographies where we have natural advantage and where our capital is needed most.

 

The Candidate

An experienced Associate will

  • have strong training in fundamentals (commercial/financial analysis, financial modelling, written communication) from a top tier investment/commercial bank, DFI, private investment fund or strategy consulting firm;
  • be capable of analysing new corporate debt investment propositions and contributing to the structuring of a transaction, preparing and presenting screening and credit papers, as well as preparing and presenting monitoring papers;
  • have experience with structured credit and mezzanine lending transactions; and
  • have at least 2-years work experience (including experience working in Africa or South Asia).

 

Critical softer skills required include the ability to:

  • work seamlessly, openly and collaboratively with colleagues from multiple teams;
  • be flexible, pro-active and ‘hands-on’ while working as a part of a small team and in dynamic transaction contexts;
  • look at complex problems and get to the root of the issue;
  • build relationships with companies;
  • communicate clearly in person (and on paper); and
  • multi-task.

 

Candidates should be strongly motivated by CDC’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.

Foreign language skills are also required, in particular those spoken in CDC’s geographies (e.g., French, Portuguese, etc.).

The flexibility and desire to spend time in the countries in which CDC invests is also important.

 

Please include a one-page cover letter with your application.

Role Posted on: 07/12/2018

Role Closes on: 05/01/2019

Salary: Competitive

Apply now