Portfolio Manager, Infrastructure

at  Local Pensions Partnership

PORTFOLIO MANAGER, INFRASTRUCTURE

Location: London
Job Ref: P0303
Function: Investments
About LPPI: One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said – our people, flexibility and collaboration.If you would like to join a company that is inclusive and forward-thinking, please read on.
Role Purpose: The Portfolio Manager, Infrastructure (“PM”) is responsible for leading the underwriting and monitoring for the indirect funds activities of the LPPI Infrastructure Pooling Vehicle (“IPV”) at Local Pensions Partnership Investments (“LPPI”). The role is responsible for managing client capital committed to the IPV; this includes setting portfolio construction objectives, managing deployment and redemptions, working with direct infrastructure team colleagues and collaborating across the real assets and wider LPPI investment team to meet client requirements. The PM will be accountable for monitoring and reporting on the performance of the IPV, including the direct IPV investments, the commitments to internally managed funds such as GLIL Infrastructure (“GLIL”) and the London Fund, as well as the balance sheet positions held by individual clients. The PM is tasked with ensuring that client commitments are invested, and the existing portfolio is managed in accordance with LPPI’s and clients’ strategic objectives, policies and relevant regulations.
Key Responsibilities: Setting strategy and implementation for the IPV, including portfolio construction, mix of funds, co-invest and direct investments (noting that GLIL commitments are treated as direct for these purposes); working in conjunction with the Head of Real Assets, and liaising with senior colleagues in the Real Assets team; Ensuring that the infrastructure investment monitoring and asset management activities are performed to a high standard by the investment team; Managing the team members focused full time, or part time, on underwriting and monitoring indirect investments; working closely with the Head Investments, GLIL and the Head of Asset Management regarding infrastructure resourcing and staffing; Responsible for origination of opportunities with funds and for co-investments for both IPV and for GLIL where relevant; includes attending relevant conferences and events for infrastructure sector, as well as attending advisory committees, meetings and site visits; Supporting investment decisions relating to infrastructure covering the Environmental Opportunities Fund (“EOF”) mandate alongside the PM for the EOF fund; the EOF is expected to have a substantial orientation to higher risk infrastructure; Engaging with the Real Estate investment team and responsible individuals regarding the sourcing and underwriting for new investments in the London Fund; includes monitoring existing infrastructure investments in the London Fund; Participate in marketing for both internal and external client activities; Working with internal LPPI teams to ensure that the IPV is on track to meet its benchmark returns, monitor the risk parameters versus the asset class mandate, as well as measure and monitor net zero and wider ESG commitments. Adhere to the Individual Conduct Rules as defined in the FCA Handbook at all times and raise immediately any potential issues that could compromise the same with their manager. The role incumbent is to have an accurate and current Fit and Proper certificate in place at all times and notify their manager immediately if anything has changed that may impact the validity of the same. Take personal accountability for completing all required individual inputs into the annual Fit and Proper certification process such as background screening, timely completion of mandatory elearnings and attend all required training. If the individual is also a manager of one or more certified persons: Identify, with support from Compliance and People & Culture, all Certified Person roles within the direct team; Take immediate action where information comes to light that may impact the validity of a Fit and Proper certificate for one of their direct reports or has the potential to be a breach of the Conduct Rules; Take personal accountability for completing all required manager steps in completing the Fit and Proper annual certification process for their direct reports and actively championing the importance of SMCR.
Requirements for the role: Demonstrated experience in originating, executing and managing infrastructure investments with third party fund managers; can include real estate experience, but seeking majority infrastructure focus; Experience evaluating fund managers, individual co-investments, including an understanding of direct investment opportunities is preferred; Post-graduate level qualified; in possession of a relevant Investments/Finance related qualification (such as CFA); Capability to deliver and operate within a customary investment process, applying sound principles and developing improvements where appropriate; Skills and experience to lead in a project sponsorship capacity; Highly effective communication, influencing and relationship management skills including personal credibility in delivering strategic information to peers, senior decision makers in LPPI and to relevant committees to facilitate high level decision making; The ability to build positive and productive working relationships with a variety of internal and external parties, including investors, advisers and clients; Excellent level of numerical, analytical and report writing skills, including the ability to use Microsoft office tools to assist in communication of key messages to facilitate decisions; A proactive, self-motivated team player who has the ability to manage a high workload with multiple deadlines ensuring expectations are managed throughout; Advanced people management skills with the ability to lead and motivate junior team members through a staff management process. These include effective performance appraisals and implementing continuing learning and development plans to aid succession planning; Promotes positive behaviour through own actions and attitude with the ability to deliver solutions within a team environment and be a flexible and supportive team player; An understanding of the breadth of the diversity agenda including embedding good practice and an understanding of LPPI’s commitment to combating discrimination and promoting equality of opportunity.Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work

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