Investment Associate, Intermediated Equity at CDC Group plc

Job description

The Role

Purpose

• Join an enthusiastic, mission driven team that sources and manages fund and intermediated strategies across Africa, including through our Impact Fund
• Support senior investment professionals in portfolio management of the Intermediated Equity (private equity funds and managed strategies) portfolio, including actively monitoring the financial performance and development impact of the funds and their compliance with CDC’s investment policy
• Member of deal team that sources, analyses and completes new proposals to invest in African funds (including Impact Funds), with the objective of selecting fund managers with the highest potential for financial and developmental impact
• Reviewing all aspects of fund commitment agreements and assisting in the negotiation process, including working with CDC’s Environmental and Social, Business Integrity, Development Impact, Legal and Finance teams in support of both fund selection and relationship management
• Taking a pro-active approach to identify problems of under-performance and/or non-compliance at fund manager level, including Environmental, Social and Governance standards, and to propose tangible solutions
• Maintaining up-to-date market knowledge/intelligence, geographic and sector mappings, and sharing the same within the team and CDC more broadly
• Responsibilities
• Assessing investment performance and compliance
• Active engagement with the relevant fund managers (General Partners) and other investors (Limited Partners)
• Formally, through the review and analysis of quarterly fund reports; this may also include supporting the deal lead in advisory board meetings;
• Informally, through regular dialogue with the fund managers, other investors, and other organizations active in the regional business community
• Supporting the work of the deal lead or other senior investment professionals on each fund relationship
• Monitoring and reporting on the financial performance, compliance, ESG, and any other issues that relate to existing portfolio investments
• Supporting analysis and creating frameworks for analysis under the guidance and supervision of other colleagues
• Evaluating new investment opportunities and maintaining market knowledge
• Assisting in the design and implementation of market scoping studies as relevant
• Support building an effective network in the Africa and Impact funds business
• Develop expertise on economic, political and social conditions in relevant African countries
• Engage in the process to catalyse/incubate new private equity managers
• Assisting in the selection of funds which will meet CDC’s objectives under its development grid, including utilising CDC’s internal tools for mapping proposals
• Preparing investment proposals/papers, conducting due diligence, and presenting investment recommendations to CDC’s Investment Committee
• Traveling to African markets and conducting onsite meetings as required
• Assisting in the preparation of recommendations to CDC’s CEO, Board of Directors, and Investment Committee
• Reviewing documentation and assisting in fund commitment negotiations
• Working with fund managers and other investors to achieve alignment of investment contracts and legal documents – including fee and incentive arrangements, financial metrics reporting, management company rights and investor protections
• Seeking input early from Environmental and Social, Business Integrity, Development Impact, Finance and Legal teams and, in conjunction with those teams, scoping their role in the investment process of each new proposal

The Candidate

Background

• Strong academic credentials, preferably including a post-graduate qualification such as CFA, ACA, IMC, MBA or equivalent
• At least 3 years’ relevant business experience. Exposure to emerging market finance, especially in Africa, is desirable
• Experience within private equity and/or fund-of-funds management or consulting is desirable
• Report writing, proficient business communication and presentation skills is imperative
• Analytical, research and valuation skills, including the ability to analyse company reports, sector data, economic situations and relevant political events
• Ability to work to deadlines and manage time effectively
• An active interest in investing in developing countries
• Demonstrable alignment with CDC’s mandate, mission and values

Technical Skills

• Ability to analyse and benchmark investment performance reports and technical data
• Demonstrable professional approach and ability to develop relationships
• Understanding of fund/manager assessment skills
• Familiarity with diligence processes, financial terms, legal terms
• Understanding and comfort with emerging market environments
• Willingness to travel within Africa
• Relationship building within team and across internal CDC teams
• Strong analytical skills and technical writing ability

Focus on achievement of objectives, aptitude and willingness to learn
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