Investment Executive or Manager, Off-Grid Solar (Debt Team) – CDC
- Team: Investment
- Location: London, UK
- Employment Type: Permanent
- Salary: Competitive
- Closing Date: 13 December 2017
- 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 has recently approved a strategy to invest debt in the off-grid solar (OGS) sector across CDC geographies. The strategy focuses on direct lending, investing via local banks and investing in dedicated debt funds, and will be executed predominantly in local currency.
- The role would be part of the CDC Debt Team, and specifically the sub-team focused on OGS. There are currently two members of the OGS debt team; this is expected to grow to 4-5 over time.
- The Executive or Manager will play a key role in expanding CDC’s capacity to deliver high-quality, impactful debt investments in the OGS sector.
- An Investment Manager will be expected to lead and coordinate transaction work (deal selection, due diligence, structuring, negotiation, monitoring) whereas an Investment Executive will support more senior members of the team in this work.
- Identification of new lending opportunities by developing and maintaining a network of relevant contacts, including with other development finance institutions (DFIs), commercial banks, advisors, etc.
Evaluation and execution of new investment opportunities:
- Filtering and prioritizing new investment proposals according to CDC’s mandate and strategy
- Sector/market, competitive and macroeconomic analysis
- Analysis of company business model and operational plans
- Analysis of financial statements and projections including reviewing and/or building financial models
- Assessment of key credit risks and potential mitigation strategies
- Due diligence including desktop research, company visits and engagement with specialist advisors and other lenders
- Transaction structuring and negotiation of key terms
- Production of written investment proposals for the Investment Committee (including coordination of inputs from CDC operations teams) and participation in meetings
- Review and negotiation of key legal documents (term sheets, loan agreements, etc.) in collaboration with CDC’s internal legal team and external legal advisors
- Coordination of closing and disbursement processes
- Closely monitor the portfolio of existing loans
- Reviewing company reports and financials
- Analysing and processing requests for waivers and amendments
- Monitoring compliance with covenants
- Identifying potential credit issues related to the company, sector or country
- Preparing and presenting monitoring papers for review by the Investment Committee.
- Ad hoc strategy or sector research/analytical work
- Proven experience in a relevant investment setting, for example at a bank, fund, DFI etc.
- Experience working in emerging or frontier markets, preferably in Africa or South Asia
- University degree in a relevant field (economics, finance, corporate finance, accounting etc). A Masters in a similar field, CFA, ACA or MBA would be an advantage.
- Exposure to the OGS sector, and knowledge of the market, business models, etc, would be a significant advantage.
- Experience in receivables financing, risk sharing/guarantee structures and/or local currency lending would also be a significant advantage.
- Analytical, valuation and research skills (including the ability to analyse company reports, sector data, economics and relevant political events);
- Credit skills and ability to analyse financial statements and make sound commercial judgements;
- Excellent financial modelling and Excel skills;
- Good business communication and presentation skills;
- Outstanding writing and document production skills in Word and PowerPoint
- Strong understanding of typical debt structures and terms
- Relationship building and interpersonal skills, effective at building and maintaining relationships with relevant external contacts, as well as internally across different teams;
- Foreign language skills, particularly those spoken in CDC’s geographies (e.g. French, Portuguese etc.) would be an additional advantage;
- Ability to work on multiple opportunities in parallel while working to deadlines and managing time effectively;
- As a member of a small team, a flexible and “hands on” approach is a prerequisite;
- An active interest in investing in developing markets and understanding of emerging market environments, with a willingness to travel to the countries in which CDC invests;
- Demonstrable alignment with CDC mandate, mission and values.
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: 14th November 2017
Closing on: 13th December 2017
Please find more information here.