Investment Associate, - Manufacturing, Food & Agriculture, and Forestry

at  CDC Group

OUR MISSION AND OBJECTIVES

• British International Investment is the UK’s development finance institution, owned by the UK Government. We invest with the aim of solving the biggest global development challenges by investing patient, flexible capital to support private sector growth and innovation.
• We have over 75 years of experience successfully supporting the sustainable, long-term growth of businesses in Africa and Asia, and have recently expanded to invest in the Indo-Pacific and Caribbean.
• We invest to achieve impact and a financial return which is then reinvested for more impact. Over the past five years, we have committed almost £7 billion of new investments, with our net assets growing in value to approximately £7.7 billion. We are now invested in 1,200 businesses which directly employ over 900,000 workers and support many more. Over the next five years, we plan to grow further, and aim to commit around £9 billion of new investments over the period.
• Our new five-year strategy responds to the opportunities and challenges facing developing and emerging economies. To ensure our capital is used in the best way possible to meet these opportunities and challenges, it sets out three clear strategic objectives – to invest in productive, sustainable and inclusive development. These objectives mean an increased focus on climate finance, including investing in green infrastructure; on financing digital transformation; and on driving inclusive outcomes, including through gender and diversity finance.
• We changed our name to British International Investment in 2022, to more accurately reflect our central role in the UK Government’s international financing offer.
• In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Myanmar, Nepal, Nigeria, Pakistan, Ghana and Singapore; with additional locations opening soon.
• 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.
• Deliver impact. We are a growing team of over 500 and place immense value on diversity within our organisation.

• Read more about us and the new strategy at co.uk

  BII’s investment activities are organised across 3 principal groups:

• Industries, Technology and Services (“ITS”) Group – this group oversees our investment activity in sectors including manufacturing, agriculture, consumer services and social infrastructure, technology, and telecommunications.

• Financial Services Group– this group oversees our investment activity via financial institutions and into financial services companies.
• Infrastructure and Climate Group– this group oversees our investment activity in energy sectors and wider infrastructure sectors such as transport.

ITS consists of five sub-teams – i) Technology & Telecom, ii) Manufacturing, Food & Agriculture, and Forestry, iii) Consumer Services and Social Infrastructure, iv) Private Equity Funds & Co-Investments (PEFCO), and v) Private Debt. We utilise equity, debt, and intermediated (primarily funds) investment instruments to reach our target sectors. Investment Associates may work across equity transactions, debt (Private Debt) or funds (PEFCO). The present position will be dedicated to the Manufacturing, Food & Agriculture, and Forestry team, representing expertise for any investment in these sectors for all instruments and in charge of a portfolio totalling £1.3b investments, mostly composed of Direct Investments.
At Investment Associate level, you will support in origination, evaluation and execution of equity, debt and funds transactions and portfolio monitoring. This will include research and strategy work, initial assessment of new opportunities, financial modelling, valuation analysis, due diligence, and portfolio management activities, as required, as well as assisting and liaising with other relevant transaction support teams (Legal, Environmental, Social and Governance (ESG), Business Integrity and Development Impact).

Deal Structuring and Execution:

• Supporting in evaluating new investment opportunities with the objective of selecting partners with the highest potential for financial returns and development impact.
• Completing discrete due diligence tasks such as company, industry, geographic and economic analysis. Managing any external consultants engaged as part of the due diligence process.
• Producing and reviewing financial models including fund models, cash flow analysis, debt sizing and sensitising for the purpose of assessing commercial viability of a transaction, determining optimal capital structure, and assisting in client negotiation.
• Liaising with potential providers of capital by way of information gathering, questioning and deal negotiation.
• Supporting (in conjunction with partners) the creation of alternative vehicles and platforms to deliver BII’s objectives, including the design of vehicle strategies, building/hiring of management teams, establishment of key governance functions (Board/Investment Committee) and mobilisation of third-party capital.
• Identifying transaction risks and how these can be mitigated.
• Reviewing term sheets and legal documentation together with the internal legal team.
• Managing the engagement of support teams (Environmental, Social, Business Integrity and Development Impact), ensuring all internal stakeholders can achieve their objectives.
• Preparing detailed investment papers that capture all of the above for presentation and recommendation to investment committee.

Portfolio Monitoring:

• Supporting the active engagement with fund managers, portfolio companies and other investors related to portfolio issues and ongoing monitoring.
• Monitoring investments through quarterly financial information, (advisory) board meetings, and regular dialogue with investee companies, fund managers and other investors.
• Reviewing company reports, monitoring compliance with covenants, flagging any potential credit issues, reviewing any waiver requests or amendments, preparing, and presenting monitoring papers for consideration by BII’s investment committee.
• Keeping up-to-date deal-flow, deal management and portfolio monitoring databases for transactions covered by the team.

Market Knowledge:

• Supporting the building of an effective network in the relevant sectors and markets.
• Developing expertise on investment climate and conditions in BII’s target geographies.
• Specifically, developing and maintaining views on economic, political and social conditions in markets where BII’s investees and fund managers operate or potentially wish to invest.

The candidate
Background, skills, aptitude

The successful candidate should demonstrate the following aptitudes:

• Results Focus: Drive to achieve objectives/results
• Personal Effectiveness: Organising self/teams to meet agreed deadlines
• Team Working: Collaboration with own team and the wider BII community
• Influencing/Persuading: Ability to obtain agreement and cooperation in a ‘win-win’ fashion
• Mission driven: Alignment with BII’s objectives including an interest in development and sustainability issues
• Relevant experience might include working in financial markets or management consultancy, ideally with experience in investment banking, private debt or equity investing, and/or emerging markets’ finance

Expected technical skills comprise of:

• Advanced knowledge of Excel and associated cash flow modelling skills;
• Strong financial and analytical skills to analyse company financial statements, forecasts, sector data, and macroeconomic context;
• Ability to gather knowledge through due diligence and to form views based on that due diligence;
• Solid written and oral presentation skills, including the ability to write reports and to present conclusions and ideas to an audience; and appreciation of the role of ESG and impact in the day-to-day investment decision-making process.

Please refer the Job description for details