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 FCP: PA, Associate, Executive, Manager, Director and MD. This role could be a Manager or Director level role reporting to the Director and Team head of Intermediated Credit.
The Intermediated Credit team is a new team within the Funds and Capital Partnerships team responsible for:
- Partnership management with banks: working with CDC Financial Institutions teams (specifically key relationship managers) to design how we can better partner with priority banks, to achieve impact in target sectors. This will initially focus on originating and executing Risk Sharing Facilities (RSFs) with partner banks, with the aim of enhancing access to credit for target segments (e.g. MFIs, SMEs)
- Originating & executing private credit funds: broadening CDC’s fund investing capability to include private credit funds to help grow the asset class
- Structuring credit transactions using, for example, new credit vehicles, securitizations, CLOs, etc, to channel capital into markets we cannot adequately reach with existing products
The Manager/Director, reporting to the Head of Intermediated Credit, will be primarily responsible for leading day-to-day the origination, structuring, execution and portfolio management of Credit Fund investments and structured transactions.
This will include leading the following aspects of the Credit Fund and structured transactions on a day-to-day basis: keeping up-to-date on trends and new credit fund and structured transaction opportunities in CDC’s geographies, researching and developing target partners and focus areas for credit funds and structured transactions, meeting with potential partner credit funds, banks and other lenders / investors in CDC’s markets, initial assessment of new opportunities, credit analysis, due diligence, investment committee process, negotiating transaction documentation with support from legal, portfolio monitoring activities, ongoing portfolio management and liaising with relevant transaction support teams (Environmental and Social Responsibility, Business Integrity, Compliance and Development Impact).
Transaction structuring and execution
- Leading all aspects of Credit Funds and structured transactions’ origination, structuring and execution
- Screening and prioritising new opportunities
- Reviewing Credit Fund teams’: track record, investment strategy, internal systems and processes, currency hedging, pricing etc
- Preparing investment proposals / papers and presenting investment recommendations to CDC’s Investment Committee
- Structuring and negotiating terms with clients to commercially acceptable standards, ensuring legal documentation that is best in class
- Analysis and transaction modelling – including sector / market analysis and macroeconomic analysis
- Leading relationships with relevant transaction support teams including: Environmental and Social Responsibility, Business Integrity, Compliance and Development Impact
- Proactively managing relationships with Credit Fund managers, other investors and other partner institutions to assess investment performance and compliance
- Reviewing and analysing quarterly fund reports, reporting information and attendance at advisory board meetings. Informally monitoring, through regular dialogue with the fund managers, other investors and other organisations active in the regional business community
- Monitoring and reporting on the financial performance, impact, compliance, ESG and any other issues that relate to existing fund investments / facilities
- Applying appropriate portfolio monitoring processes that include preparation of periodic monitoring reports for CDC’s investment committee, checks for early warning signals, review of waiver requests and amendments, and then presenting recommendations for CDC’s investment committee or as required to comply with relevant regulations
- Building relationships with Credit Fund managers, corporates, banks, other DFIs, other potential lenders/investors in CDC’s markets and market intermediaries to ensure the Intermediated Credit team keeps abreast of relevant trends, transaction structures and proposals in our markets
- Liaising closely with relevant CDC teams including Direct Debt, Africa and Asia Funds, geographical and Financial Institutions teams to share information and ensure a coordinated approach
Research and strategy
- Leading the design and implementation of market scoping studies as relevant
- Driving the development of strategy for Credit Funds and structured credit transactions, and contributing to the broader strategy for Intermediated Credit
- Developing knowledge of debt products and structures being offered in CDC’s regions to assess where CDC can most effectively contribute particularly in mobilising capital from third parties
Deal team management
- Managing more junior members of the team on transactions
- Sharing knowledge and developing the skills of other team members
- Significant and relevant experience within a banking, fund, investment and/or DFI environment with in depth experience of originating and structuring credit transactions in Africa
- Ideally experience as a Credit Fund GP / LP in Africa
- University degree in finance, economics, corporate finance accounting, or other relevant degree. CFA, ACA or MBA would be an additional advantage
- Experience of building relationships with GPs, LPs, banks, investors and other market participants in Africa
- Excellent credit analysis, structuring and transaction execution skills from Corporate debt and/or FI transactions
- Team player who is collaborative and keeps other teams involved and informed of initiatives and strategies
- Flexibility to work across a number of different transactions. Ability to work on multiple projects across products and sectors while working to deadlines and managing time effectively
- Leadership and management skills
- Strong analytical and research skills
- Good report writing, business communication and presentation skills
- Financial modelling and excel skills
- Experience financing in Africa and understanding of emerging market environments with a willingness to travel within Africa
- 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, particularly those spoken in CDC’s geographies (e.g. French, Portuguese, etc) would be an additional advantage
Candidate generic values / traits
Candidates must be strongly motivated by CDC’s proposition. This requires:
- 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.
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 provide a cover letter with your application.
Role opened: 22 July 2020
Role closes: 21 August 2020