Investment Director and Team Lead, DFID Impact Accelerator Fund, Equity Investments
- 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
- CDC is currently deploying a £333m ‘Impact Accelerator’ fund (IA) on behalf of (the Department for International Development (DFID), investing across Africa and South Asia.
- The facility invests in highly developmental businesses and projects that have a more challenging risk/return profile versus CDC’s main balance sheet and commercial investors. Many of the investments will be early stage opportunities and greenfield JVs (often with blue-chip multinational partners); hence the facility is a unique combination of traditional private equity investing and ‘business building’.
- The facility aims to tackle developmental impact by focusing on investing in opportunities that are not getting the appropriate capital but that it believes would over time be economically sustainable and if they are funded would have a significant developmental impact in the geographies and supply chains it serves. It does this through targeting the harder geographies; the underserved and innovative business models.
Scope of the role
- Manage, lead and mentor a culturally diverse team of 17 people (currently in three offices) in building a balanced investment portfolio that has a mandate of development first and a goal of capital preservation at its heart.
- Underscore and evolve IA’s leadership position in the Impact Investment space with its unique approach and capabilities.
- Further develop and evolve a strategy and implementation plan leading to the execution of investments and the building of a balanced portfolio.
- Manage and develop the relationship with DFID which is CDCs sole shareholder and governor of the facility
- Ensure that CDC and specifically IA have the appropriate presence in the Impact Investment community through interaction with peers in the market, communication materials, conference attendance and collaboration with third parties in investments.
- Identify the countries and sectors most appropriate to the mandate of the facility and build a road map for the identification of target companies and potential JV partners
- Provide leadership to a new and young team on how to work with management and promoters of target companies to develop ideas for potential investment opportunities – a good percentage of what IA does is built from scratch with executing partners.
- Structure the IA portfolio of investments to allocate risks and incentives appropriately, with a view to helping the businesses achieve commercial viability, while at least returning IA’s capital investment at a portfolio level
- Support CDC Executive Committee (Exco) in all aspects of its growth and evolution of qualifying strategies pertaining to concessional finance.
- Provide input and support to Exco and the Development Impact (DI) team in all aspects of the management and communication of Development Impact
- Build trust with the Investment Committee and provide the bridge for the team to ensure the best alignment when presenting potential investments. This is particularly important with regards to the external members of the Investment Committee.
- Provide leadership and mentoring on the origination of appropriate deals.
- Show leadership in the entire deal execution process, including all aspects of due diligence, deal structuring and documentation.
- Create an environment through the more senior members of the IA team to ensure development and learning both pre and post deal.
- Post-deal activity is significant in the IA portfolio and active board participation by the team lead and other members of the team will be required.
- Ensure that the team understand the delicate nature of its investment environment and that CDC reputational risk is not compromised and all team activities are performed in compliance with CDC’s investment policy.
- Maintaining up-to-date knowledge and expertise on conditions in the emerging markets and specifically the economic, political and social conditions in markets where CDC’s funds operate, or potentially wish to operate.
- Ensure that investment reports and investment papers are communicated to the investment committee with a balanced view of the risks, opportunities and potential returns;
- Guide the team on how to apply good judgment and analysis to issues or problems discovered during due diligence, and formulate sound plans to mitigate problems.
- Keep up to date with market developments and all other areas that can affect the markets, e.g. movements in the economies of relevant countries.
- Advise portfolio companies on market developments and precautionary measures to be taken;
- Considering how the economic implications of factors such as natural disasters, weather, wars, etc. might affect the performance of portfolio companies;
- Monitoring the financial news and updating Equity Investments team of material information in the target countries, sector and companies;
- Ensure a collaborative culture within the team when working with the other CDC teams, especially Equity, Funds, Debt, (Environmental and Social Responsibility), ESR, DI, Legal and Finance and Business Integrity (BI)
- University degree and, preferably, MBA or post-graduate professional qualification;
- Significant senior level experience in private equity or business development in emerging markets such as Africa and/or South Asia;
- Evidence of leadership, charisma and tenacity enabling progression in challenging environments
- Experience of developing investment strategies and building things from scratch
- Creative business thought processes and entrepreneurial spirit
- Significant experience of structuring, negotiating and reviewing investment proposals;
- Equity valuation, financial structuring and experience of direct investing;
- Experience of successfully leading and developing an investment/business development team;
- Comfortable in communicating with all levels of management and stakeholders internally and externally;
- Strong numerical, analytical and problem solving skills;
- Ability to work to deadlines and manage multiple projects effectively;
- Demonstrable alignment with CDC mandate, mission and values
- Ability to lead investment teams from start to finish
- Ability to understand requirements of various stakeholders in a project (government, regulators, contractors, customers, debt and equity financiers, etc.)
- Strong business judgment
- Visionary and ability to bring unrelated elements and people together to create successful new ventures and environments
- Ability to deal with and navigate to positive conclusions very divergent stakeholders and institutions
- Familiarity with financial modelling and analysis
- Ability to assess risk and opportunity in potential investments
- Potential to develop relationships with management teams and intermediaries
- Familiarity with diligence processes, financial terms, legal terms, etc.
- Understanding of monitoring and ongoing relationships
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
Please submit a cover letter with your application.
Posted on: 25th July 2017
Closing date: 23rd August 2017