Investment Director, Equity - Financial Institutions
- 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 380 and place immense value on diversity within our organisation.
- Read more about us on our website cdcgroup.com
Team and role overview
There are 5 levels in the team – Associate, Executive, Manager, Director & Team Leader. For this vacancy, we are looking for an Investment Director to join the team
- Work with the Head of Financial Institutions Equity to implement a strategy for CDC’s FI investments in Africa and South Asia. Our current priority sub-sectors include banking, speciality lending companies, insurance, digital financial services and market infrastructure.
- Contribute as part of the Financial Institutions leadership team, helping to define the strategy and mentoring the team members to execute the strategy.
- Develop and maintain a broad understanding of the financial services market in Africa and South Asia with a view to:
- Identify trends, opportunities and challenges
- Develop an understanding of potential target firms and platforms, relationships with their principals, shareholders and senior management teams and insights into business drivers
- Develop and maintain a broad network of potential co-investors, advisers, brokers, bankers and NEDs
- Lead analysis and evaluation of new proposals to invest in CDC target market investments, including due diligence and joint responsibility for preparing recommendations to CDC’s Investment Committee.
- Lead structuring and negotiations with target companies and other investors and oversee all aspects of investment agreements.
- Lead on closing of investments and ensure compliance with CDC procedures.
- Actively monitor the performance of the investments from a commercial, developmental and ESG perspective and their compliance with CDC’s investment policy.
- Taking a pro-active approach to building value and to resolving problems of under-performance and/or non-compliance at investment level.
- Maintaining up-to-date knowledge and expertise on the economic, political and social conditions in markets where CDC operates, or potentially wish to operate.
- Advise other areas of CDC (such as Debt and Funds) in their FI initiatives and identify areas of potential collaboration.
- Establish relationships in CDC target geographies with a range of potential financial services companies/ platforms to generate a high-quality deal flow matching an agreed investment strategy.
- Lead the preparation of investment reports and communication of the rationale for investing in the identified target to the investment committee together with a balanced view of the risks, opportunities and potential returns.
- Conduct thorough analysis of potential investments and identifying mitigating factors to minimise the exposure risk to CDC.
- Lead workstreams valuating identified targets using various methods and providing detailed outputs and rationale for the chosen methodology.
- Conduct thorough due diligence on an opportunity, sector, and country. Manage third party due diligence advisors, arrange meetings with various stake-holders;
- Apply good judgment and historical analysis to issues or problems discovered during due diligence and formulate structuring ideas 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.
- Writing research reports and investment ideas.
- Represent CDC on governance boards and committees in portfolio companies.
- Develop collaborative working relationships with the other CDC teams, especially Funds, Debt, ESG, Legal and Finance.
- Track progress of investments against agreed measures including both commercial and development impact indicators.
- Put in place appropriate post-investment portfolio management strategies and help drive value in portfolio companies.
- Coach members of the FI team and take responsibility for individuals’ career development.
Background and Competencies
- Relevant University degree and, preferably, MBA or post-graduate professional qualification or equivalent;
- Extensive private equity investment experience in the FI sector including having led multiple transactions from origination through portfolio management and exit;
- Transaction experience across emerging markets preferred, particularly Africa and South Asia;
- Transaction experience in some or all our target sub-sectors also significantly preferred;
- Interest in development finance/impact investing;
- Strategic thinker, able to contribute to the formulation and implementation of sector strategies in the emerging markets context;
- Experience of structuring, negotiating and reviewing investment proposals;
- Equity valuation, financial structuring and experience of direct investing;
- Strong portfolio management skills and proven ability to drive value in portfolio companies;
- Comfortable communicating with all levels of stakeholders internally and externally;
- Strong 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 sector-mapping and to create a clear investment strategy within the Financial Institutions Sector;
- Commercial judgment and ability to assess risk and opportunity in potential investments;
- Strong team building and leadership skills
- Focus on achievement of objectives
- Strong influencing skills
- Demonstrates good commercial judgement
- Works out solutions independently
- Ability and desire to spend significant time in our markets
- Fluent French an advantage
- Impact-led, 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.
To learn more about the CDC investment team visit our website: https://www.cdcgroup.com/en/about/our-people/teams/investment-teams/
Please provide a cover letter with your application
Role opened: 08/08/2019
Role closes: 09/09/2019