Summer Intern, Intermediated Equity/Funds (3 positions available across Africa, Asia and Impact teams)

Team: Investment

Location: London, UK

Employment Type: Intern

Salary: £47,055 pro–rated over 10 weeks

Closing Date: 28 January 2018

Summer Intern, Intermediated Equity/Funds (3 positions available across Africa, Asia and Impact teams)

Our Mission

  • 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

 

The Role – Funds Investing

CDC is one of the leading providers of capital to private equity funds in Africa and South Asia. These investments are made by the Intermediated Equity team which is divided into three focus areas:

  • Africa - CDC is the largest single investor in private equity funds in Africa, supporting 58 funds investing in 32 out of the 54 countries on the continent.
  • Asia - CDC are one of the largest investors in private equity funds in South Asia, supporting 37 funds investing across the region, including in 25 out of India's 29 states. 
  • Impact Fund – Through the smaller Impact Fund portfolio, CDC is able to accept higher risk to achieve particular development objectives such as benefiting excluded or underserved groups, supporting some of the hardest markets in CDC’s mandate.

One intern will be allocated to each of these teams so please ensure you make your preference clear in your application; however from time to time you may be required to work across other Intermediated Equity teams.

The primary focus of an intern, will be to support the Asia, Africa or Impact Fund deal teams.  Responsibilities will include assisting with:

  • Support on special strategy projects;
  • Undertaking research into specific sectors, countries and regions with a view to mapping market opportunities, active fund managers, and potential new teams;
  • Support the team in evaluating new investment proposals, including conducting financial analysis as required;
  • Preparing presentation materials for investment committees;
  • Support the team in monitoring the portfolio of existing investments.

 

Responsibilities

Specific responsibilites will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:

 

Research

  • Undertaking research into specific sectors, countries and regions as part of an on-going mapping exercise
  • Undertaking research on an ad-hoc basis, as part of the background analysis for specific proposals
  • Producing market developments updates across the continent, monitoring factors that could have an impact on pipeline and portfolio companies, using open-source information and specialized publications

 

Evaluation of new investment proposals

  • Updating the CDC deal tracking system on a regular basis
  • Initial filtering of investment proposals for fit within CDC’s developmental and investment mandate
  • Assisting with the due diligence on specific proposals
  • Assisting with preparing presentations and participating in meetings with co-investors, potential investees and portfolio funds where appropriate
  • Assisting with preparing investment committee papers and participating in the meetings.

 

Portfolio Monitoring

  • Preparing reviews of investee funds’ financial and strategic performance, including compliance with CDC’s Environment, Social and Governance requirements.
  • Updating internal monitoring tools as appropriate.

 

The Candidate

 

Background

  • University degree or equivalent level of education, currently enrolled in an MBA or equivalent programme
  • Demonstrable business experience in an international environment, including exposure to emerging market finance
  • Experience within private equity and/or investment banking is desirable
  • Demonstration of identity with CDC’s proposition including:
  • An awareness of and appreciation for CDC’s objectives, outside of personal motivations and strongly motivated by these aims
  • Some evidence of these values is useful (E.g., volunteering, career changes due to changing motivations)
  • An appreciation of what CDC is doing and a real desire and passion to be part of our development
  • Appropriate periods with each previous employer and explicable career moves
  • An understanding of the remuneration and its structure, with the trade-offs it requires

 

Technical Skills

  • Rigorous approach to due diligence and deal selection process
  • Analytical, research and financial modelling skills
  • Report writing and advanced knowledge of Excel
  • Some knowledge of relevant markets and sectors
  • Basic commercial insight into the challenges and issues that businesses face in South Asia and Sub-Saharan Africa
  • Understanding of equity investments and the challenges inherent in this type of investment
  • Understanding of emerging market environments and inherrent challenges working in these environments
  • Strong written and oral presentation skills
  • Ability to analyse data, draw conclusions and present ideas

 

Personal Skills

  • Communication: Strong written/verbal communication skills to effectively carry out role
  • Team Working: Collaboration with own team and the larger employee community
  • Results Focus: Drive to achieve objectives/results
  • Personal Effectiveness: Organising self/teams to meet agreed deadlines
  • Influencing/Persuading: Ability to obtain agreement and cooperation in a ‘win-win’ fashion

 

CDC Identities

  • We look for candidates who share our culture and reflect our identity, the CDC identities are described as follows:
  • Compassion is central to everything we do
  • We owe our clients and prospective clients a fast and thoughtful process
  • We accept the tough challenges inherent in our mission
  • We are quick and non-defensive when things go wrong
  • We oppose bureaucracy
  • We never forget that we are investing and spending tax payers’ money
  • We promote a fulfilling work environment

 

Application Process:

  • Please provide a covering letter and state your preference out of the Asia, Africa and Impact Fund teams
  • Please apply for a maximum of two Summer Internships, clearly stating your preference in your covering letter 
  • The closing date for applications will be 28 January 2018
  • Salary: £47,055 pro–rated over 10 weeks
  • Please note that CDC will not be able to provide relocation costs
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