As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Investment Associate, Impact Funds, Funds & Capital Partnerships

at CDC Group plc in London, UK

About the Job

Team and role overview

CDC is one of the leading providers of development capital to private equity funds in Africa and South Asia. By supporting locally based fund management teams, CDC is developing the local investment market, human capital and small and medium businesses. This role sits within the Impact Fund Team – through the Impact Fund portfolio, CDC is able to accept higher risk to achieve particular development objectives such as benefiting excluded or undeserved groups and supporting some of the most challenging markets (across both Africa and Asia) in CDC’s mandate. The Impact Fund currently has commitments of approx. $200m across 13 funds with exposure to sectors such as energy, agriculture, healthcare, education and financial inclusion. There are 5 job levels in the team – Associate, Executive, Manager, Director & Team Head.

Purpose

Join an enthusiastic, mission driven team that manages fund and intermediated investments across Africa and South Asia
Support senior investment professionals in portfolio management of the Impact Funds (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 executes new proposals to invest in African and Asian funds, with the objective of selecting fund managers with the highest potential for financial and developmental impact
Review all aspects of fund commitment agreements and assist in the negotiation process, including working with CDC’s Environmental and Social, Business Integrity, Development Impact, CDC Plus (grant facility for technical assistance), Legal and Finance teams in support of both fund selection and relationship management
Take 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
Maintain 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 Impact funds business
Develop expertise on economic, political and social conditions in relevant 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 Africa and Asia 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, CDC Plus, 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 Africa and Asia, is desirable
Experience within private equity, fund-of-funds management, impact investing, investment banking or broader financial services or management consulting experience 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 & Other Requirements

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 and Asia
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

Candidates should be strongly motivated by CDC’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity

Please provide a cover letter with your application
Role opened: 21/05/2019
Role closes: 19/06/2019
Salary: Competitive

Qualifications

Technical Skills & Other Requirements

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 and Asia
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

To apply

https://isw.changeworknow.co.uk/cdc_group/vms/e/careers/positions/cnFUQSyDHp6i6pl1Il33Tk

CDC Group plc

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