Investment Manager and/or Director Credit Intermediation (2 positions available)
- 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 Funds and Capital Partnerships team is responsible for leading our efforts in four areas:
- Intermediated Credit: creating new credit partnerships through risk-sharing facilities as well as structuring and investing in new credit vehicles;
- Corporate Partnerships: developing partnerships with multinational corporations and best-in-class local operators to co-invest in areas of joint strategic interest;
- Mobilisation: mobilising more debt and equity capital in our markets.
- Funds: supporting locally-based investment teams and providing capital to private equity funds in Africa and South Asia.
- The two roles will play a leading role in growing CDC’s Intermediated Credit business through origination, structuring, execution and monitoring of new credit partnerships that meet CDC’s commercial and development impact criteria.
- The role is on establishing risk-sharing facilities and structuring of new credit vehicles across CDC’s geographies (Africa and South Asia) but with a specific focus on growing the Africa business. The investments would into commercial banks, non-bank financial intermediaries (NBFIs) as well as listed entities and/or funds.
- Originate investment opportunities utilising your own and CDC’s relationships with commercial banks, DFIs and other networks, and in co-operation with CDC’s Financial Institutions (FI) Debt and FI Equity teams as well as other relevant departments.
- Develop/maintain a network of relevant contacts with commercial banks, investment banks, investors, DFIs, advisors, consultancy and research firms.
- Contribute to market-mapping exercises, where relevant, in close co-operation with the FI Debt and FI Equity teams as well as develop targeted origination strategies to focus our investments into commercial banks/ NBFIs and geographies where we can achieve scale and significant development impact.
- Develop marketing and pitch-book materials that effectively communicate CDC’s investment priorities and credit risk appetite to potential partners.
- Provide visibility to CDC’s Credit Intermediated business by participating in conferences, etc.
- Develop innovative approaches / products to fill market gaps and complement existing product offerings.
- Present high-quality investment proposals through CDC’s investment process.
Deal Structuring, Execution, Portfolio Construction and Monitoring
- Deliver a high quality, diversified portfolio of Intermediated Credit transactions that include risk-sharing facilities with banks and structuring of new credit vehicles.
- Structure and negotiate terms with partners appropriate to commercially acceptable standards, ensuring legal documentation that is best-in-class.
- Manage the preparation and presentation to the Investment Committee of screening and credit papers for new deals, as well as the preparation and presentation of monitoring papers for existing deals.
- Ensure the maintenance of a high-quality portfolio post-disbursement including financials, development impact and environmental, social and business integrity, leveraging internal specialists as needed.
- Apply 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. Present recommendations for CDC’s Investment Committee as required to comply with relevant regulations.
Deal Team Management
- Lead small deal teams to execute on the above.
- Guide more junior members of the team through sharing of experience and implementation of best practice in financial analysis, structuring, due diligence, term sheet preparation, negotiation of covenants and written and formal presentation to Investment Committee.
- Include and manage the engagement of support teams (Environmental, Social, Business Integrity and Development Impact), ensuring all internal stakeholders can achieve their objectives.
- Liaise regularly with the Head of the Funds and Capital Partnerships team on deal progress, issues and team development.
Contribute to Strategic and Other Internal Initiatives
- Develop/maintain relationships with other relevant teams across CDC in London and based in our regional offices.
- Maintain/develop knowledge of markets and geographies sectors relevant to CDC’s Intermediated Credit business.
- Lead/contribute to other ad hoc internal initiatives, strategic or otherwise.
A proven background in international finance, preferably in corporate / investment banking or another DFI; focused on debt investments, capital markets (loan origination), risk sharing products, structured finance or trade finance team in emerging markets.
Proven track record of originating, structuring and closing complex credit transactions in difficult environments.
Management experience of leading deal teams, a hands-on transactor that will also nurture the development of others.
Previous experience working in or with financial institutions will be a distinct advantage.
Master’s degree in a relevant field (finance, economics, business administration) if relevant, but is not a prerequisite.
Proficiency in French would be an advantage.
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
- Excellent credit, financial and structuring skills.
- Strong understanding of due diligence processes, bank loan portfolio reviews, financial terms, legal terms.
- Loan product knowledge including an understanding of market practice and credit risk structuring experience in emerging market economies.
- Strong interpersonal and negotiation skills.
- Strong written and verbal communication skills.
Please include a one-page cover letter with your application
Role opened: 08/04/2019
Role closes: 07/05/2019