Investment Manager, Asia, Funds & Capital Partnerships

Team: Investment

Location: Mumbai

Employment Type: Permanent

Salary: Competitive

Closing Date: 24 August 2020

Investment Manager, Asia, Funds & Capital Partnerships

 

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 2020.
  • 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 400 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

 

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 Funds and Capital Partnerships: PA, Associate, Executive, Manager, Director and MD. This role is a Manager level role reporting to the Director, Asia, Funds & Capital Partnerships.

The Asia team will be based in Mumbai and focuses on investing and monitoring private equity funds, managed accounts, co-investments and other intermediated investment vehicles across South Asia. The team takes a hands-on, patient approach to develop the private equity and credit industry across South Asia, ensuring the right teams, strategies, skills and sectors are focused on in order to make underlying businesses sustainable in the long term.

 

Purpose

The Manager will play a leading role in strategy development, origination, structuring, execution and monitoring of CDC’s Funds and Capital Partnership investments in South Asia. 

This will include the following aspects of the Asia Funds business on a day-to-day basis:

  • Responsibility for sourcing, analysing and completing new proposals to invest in tailored intermediates structures across South Asia, with the objective of selecting fund managers and co-investments with the most potential financial and developmental impact
  • Responsibility for a portfolio of funds, including monitoring financial performance and development impact of the funds and their compliance with CDC’s investment policy
  • Mentoring more junior member of the team to increase their skill and effectiveness in monitoring existing fund manager relationships
  • Review and negotiation of fund commitment and co-investment agreements, including mobilising the assistance of CDC’s ESG (Environmental Social and Governance), Business Integrity, Legal and Finance teams in support of both fund selection and relationship management
  • Taking a pro-active approach (with Director support) to resolving problems of under-performance and/or non-compliance at fund manager level, including in relation to ESG standards
  • Manage the monitoring of development impact of each relevant fund
  • Maintaining up-to-date market knowledge
  • Keeping up-to-date on trends and transaction opportunities across in South Asia
  • Researching and developing target partners and focus areas for Fund and Capital Partnership transactions

 

Responsibilities

Transaction structuring and execution

  • Leading multiple aspects of fund transactions including origination, structuring and execution
  • Screening and prioritising new opportunities
  • Reviewing proposed teams: track record, investment strategy, internal systems and processes, etc
  • Reviewing and structuring tailored intermediated equity proposals looking at all aspects of the transaction including: pricing, risk and portfolio analysis 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

Portfolio management

  • Proactively managing relationships with fund managers (General Partners), other investors (Limited Partners) 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

Business development

  • Building relationships with fund managers (General Partners), other investors (Limited Partners), PE associations, banks, other DFIs, other potential investors in CDC’s markets and market intermediaries to ensure the Funds and Capital Partnerships team keeps abreast of relevant trends, transaction structures and proposals in our markets
  • Liaising closely with relevant CDC teams including Direct Equity/Debt, the broader Funds and Capital Partnership, both Regional and in London to share information and ensure a coordinated approach

Research and strategy

  • Assisting in the design and implementation of market scoping studies as relevant
  • Developing knowledge of tailored intermediated investment products and structures being offered in CDC’s regions to assess where CDC can most effectively contribute particularly in mobilising capital from third parties

Team building and operations

  • Contribute to team meetings and broader CDC initiatives (e.g. sector working groups) and develop collaborative working relationships with other CDC teams
  • Assist in development of the Funds & Capital Partnerships team strategic direction and plans
  • Act as a regional ambassador for CDC, including speaking at conferences and engaging with agreed stakeholders

 

The candidate

Background

  • Experience as an investor in private equity funds and/or fund-of-funds management.
  • Equity valuation and experience of direct investing.
  • Extensive business experience in an international environment, including a track record of working in emerging market finance.
  • Strong academic credentials, including a post-graduate qualification such as CFA, ACA, IMC, MBA or equivalent.
  • Detailed working knowledge of and an active interest in investing in developing countries.
  • Demonstration of identity with CDC’s proposition including:
  • An awareness of and appreciation for CDC’s objectives
  • An appreciation of what CDC is doing and a real desire and passion to be part of the next phase of development
  • History of working with 'best in class' employers in their respective fields
  • Appropriate periods with each previous employer and explicable career moves
  • the flexibility and desire to spend time in the countries in which CDC invests

Technical Skills

  • Ability to analyse and bench-mark fund / investment performance reports / data
  • Capacity to sustain long term relationships with investee management teams
  • Good management/mentoring skills
  • Familiarity with PPMs, diligence processes, financial terms, legal terms
  • Understanding of monitoring and on-going relationships
  • Rigorous approach to following fund selection investment process
  • Knowledge of relevant markets and sectors to enable cross-examination of new fund strategies
  • Strong portfolio management skills, including techniques for track record analysis and an appreciation of the role of ESG.

 

CDC’s Values

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 include a cover letter with your application 

 

Role opened: 20 July 2020

Role closes: 24 August 2020

Salary: Competitive 

Apply now