Investment Manager, Project Finance (focus on CDC’s African geographies excl. South Africa and Morocco)
- 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
- To play an important management role in the development of CDC’s Project Finance Debt with the other senior team members and the Head of Project Finance for the effective origination, structuring, execution and monitoring of project finance 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) however with a particular emphasis on CDC’s African geographies excl. South Africa and Morocco . The project finance focus sectors that would support significant employment creation such as energy, transport, ports, industrial processing and real estate.
- The Project Finance team is part of CDC’s Debt team which comprises of Project Finance, Corporate Debt, Financial Institutions and Trade Finance, and Off Grid Solar. Debt has ambitious growth plans within the next 4 years.
- The financial commitments range from $15 up to $150m depending on certain criteria. Common for all is the high level of complexity of project finance especially through the strong focus on both commercial robustness and development impact aspect of the deals.
- Originate Project Finance investment opportunities utilising your own and CDC’s relationships with commercial banks, DFIs and clients directly, and in co-operation with CDC’s Direct Equity and Sector teams and the Intermediated Equity team.
- Develop/maintain a network of relevant contacts with commercial banks, DFIs, advisors, and an identified list of clients.
- Contribute to market-mapping exercises, where relevant, in close co-operation with the Sector teams as well as 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.
- Develop marketing and pitch-book materials that effectively communicate CDC’s investment priorities and credit risk appetite to partners and clients.
- Provide visibility to CDC’s Project Finance business by participating in conferences, etc.
- Develop innovative approaches/products to fill market gaps and complement existing product offerings.
- Prepare and present high-quality investment proposals through CDC’s investment process.
Loan Structuring and Execution
Portfolio Construction and Monitoring
- Assist to deliver a high quality, diversified portfolio of Project Finance transactions.
- 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 managing the process with more junior team members on assigned deals for the preparation of periodic monitoring reports for CDC’s investment committee, checking for early warning signals, reviewing of waiver requests and amendments, liaising with the Head of project finance team and thereby present recommendations for CDC’s investment committee or as required to comply with relevant regulations.
Deal Team Management
- Lead small deal teams within the structure of the project finance team to execute on the above.
- Guide, mentor and develop more junior members of the Debt Team, through sharing of experience and implementation of best practice in financial analysis, cash flow modelling, term sheet preparation and written presentation.
- Inclusively 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 project finance team on deal progress, issues and team development.
- Managing external lenders advisors through due diligence work streams, such as legal, model audit, technical, environmental & social and insurance.
- Managing responsibility for the completing of discrete due diligence tasks such as company, industry and economic analysis.
- Responsible for managing and co-ordinating the analysis, including: sector / market analysis; company / borrower analysis (including credit analysis financials and financial modelling); macro-economic analysis. Including all aspects of credit assessment, identify transactions risks and how these can be mitigated, and will take responsibility for deal completion related work including managing conditions precedents to ensure efficient and timely financial close.
- Reviewing and commenting on legal documentation together with the internal legal team.
- Structure and negotiate terms with Borrowers and co-lenders appropriate to commercially acceptable standards, ensuring legal documentation that is best of class.
- Managing the preparation and presentation of screening and credit papers for new deals, as well as the preparation and presenting monitoring papers for existing deals.
- Leading the deal team and managing the interface with support teams.
- Liaising regularly with the Head of Project Finance.
Contribute to Strategic and Other Internal Initiatives
- Work with the other senior project finance team and Head of project finance to collaboratively steer the business growth development and monitoring in accordance with strategic objectives.
- Develop/maintain relationships with CDC’s Direct Equity and Sector teams and the Intermediated Equity team, as well as other support teams.
- Maintain/develop knowledge of markets, geographies and sectors relevant to CDC’s Corporate Debt business.
- Lead/contribute to other ad hoc internal initiatives, strategic or otherwise.
A proven background and track record, at an appropriate level, in international Project Finance Lending investments in emerging markets, and previous experience in some of our core sectors of energy, water, ports, transport and real estate preferably from:
- Investment bank or
- Development Financial Institution (“DFI”) or Multilateral Development Institution.
However, we will also consider candidates with a background from:
- Project finance transaction advisory
- Project or corporate finance teams of a project developer
Candidates should also have:
- Transactional experience in Africa, with a regional contact network
- Proven track record of originating, structuring and closing complex Project Finance transactions in difficult environments
- Ability to work on multiple opportunities across sectors while working to deadlines and managing time effectively
- 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 proactive “hands-on” approach is important, as well as the ability to mentor junior team members
- Management experience of leading deal teams, a skilled transactor that will also nurture the development of others
- Master’s degree in a relevant field (finance, economics, business administration) if relevant, but is not a prerequisite
- Proficiency in another language spoken in Africa would be advantageous, for example a native language, French, Portuguese.
We will be considering the following as important:
- Excellent credit, financial and structuring skills
- Strong understanding of diligence processes, financial terms, legal terms
- Project Finance product knowledge including an understanding of market practice and credit risk structuring experience in emerging market economies
- Good business communication skills, written and verbal and presentation
Please include a one-page cover letter with your application
Role Posted on: 21/09/2018
Role Closes on: 20/10/2018