Investment Manager, SME Funds, Private Equity Funds

CDC Group - London
23 Mar 2021

Our mission

  • CDC is the UK’s development finance institution. Founded 70 years ago, we invest in the most challenging markets of Africa and Asia with the aim of supporting economic development. CDC has net assets of £6.4bn and a portfolio of £4.7 billion.
  • In 2019 we committed over £1.66 billion of capital to business in Africa and Asia and are now invested in 1,200 businesses which directly employ over 875,000 workers and support many more.
  • 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 years.
  • In 2020 we have expanded our presence in Africa and Asia by opening new offices.
  • 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 likeminded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 450 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

Team and role overview

Private Equity Funds sits within the Private Equity and Corporate Debt Group which manages all of CDC’s investment activities in SMART Industries, (Services, Manufacturing, Agriculture, Real Estate and Technology) (SMART). SMART is organised along product lines: (i) Private Equity Funds, (ii) Direct Private Equity, (iii) Venture Capital, (iv) Corporate Debt, and (v) Portfolio Management.

Private Equity Funds comprises of five sub-teams (SME Funds, Mid/Large Funds, Sector Funds, South Asia Funds and Restructuring) that are involved in sourcing, managing, developing and where necessary, restructuring fund investments in Africa and Asia. The SME Funds team will closely collaborate with other sub-teams (Mid/Large Funds, Sector Funds, South Asia Funds and Restructuring) to achieve CDC’s objectives.

Private Equity Funds takes a hands-on patient approach to develop the private equity industry across Africa and Asia, ensuring the right teams, strategies, skills and sectors are focused on in order to make underlying businesses sustainable, successful and impactful in the long term.

Purpose

The Investment Manager (SME Funds) will support the sub-team’s strategy in developing innovative solutions to enable the growth of the SME sector across Africa and South Asia, through the provision of capital to enable self- sustaining teams. We will pursue opportunities that will deliver:

  • Provision of goods and services accessible to all to improve the quality of life
  • Paths towards institutionalisation of the informal sector, supporting more responsible business practices
  • Development of human capital
  • Provide income generating opportunities through direct and indirect employment

The title structure in the team is; PA, Associate, Executive, Manager, Director and Team Head.  The team has 7 team members and this role is reporting into the Team Head.

Responsibilities include:

Specific responsibilities will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:

  • Lead role in managing a portfolio of SME funds in Africa and South Asia, including actively monitoring the financial performance and development impact of the funds and their compliance with CDC’s investment policy
  • Lead role in analysing and completing new proposals to invest in SME funds, with the objective of selecting fund managers with the most potential 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 in relation to ESG standards
  • Building and nurturing relationships with key stakeholders in in our markets to support portfolio management and investment origination
  • Keep up to date deal flow, deal management and portfolio monitoring databases for all funds on which s/he is a team member
  • Maintaining up-to-date market knowledge and relationships
  • Assist in preparing presentations to support team strategy and CDC’s brand building with stakeholders
  • Supporting and coaching junior team members in the SME Funds team and in deal teams

Current investment performance and compliance

  • Formally, through the receipt and analysis of quarterly financial information and representing CDC in advisory board meetings,
  • Informally through active engagement with the fund managers, other investors, and other organisations active in the regional business community
  • Collaborate with all teams across CDC to support and add value to our investees

Evaluating new investment opportunities 

  • Building an effective network in the Private Equity Funds business
  • Leading in the selection of funds which will meet CDC’s objectives, including utilising CDC internal tools for mapping proposals and implementing market scoping studies as relevant
  • Reviewing proposals and preparing screening papers and, where relevant, leading the due diligence process on fund proposals
  • Leading in the preparation of recommendations to the Investment Committee

Reviewing documentation and negotiating fund commitments

  • Engaging with fund managers and other investors including regarding fee and incentive arrangements, investor rights, reporting, the powers of the management company and its relationship with investors, and CDC’s side letter
  • Seeking input early from Environmental and Social, Business Integrity, Development Impact, Finance and Legal teams and working alongside them in the investment process of each new fund

Maintaining up-to-date market knowledge 

  • Develop and maintain expertise on the economic, political and social conditions in markets where CDC’s funds operate, or potentially wish to operate

The Candidate

Background

  • Experience with private equity fund management and/or fund-of-funds management
  • Experience working in the development finance space
  • Equity valuation and experience of direct investing.
  • Proven business experience in an international environment, including a track record of working in emerging market finance
  • Strong academic credentials, preferably including a post-graduate qualification such as CA, CFA, IMC, MBA or equivalent.
  • Detailed working knowledge of and an active interest in investing in developing countries
  • Demonstrable alignment with CDC mandate, mission and values
  • Ability to analyse and bench-mark fund / investment performance reports / data
  • Potential to develop relationships with fund management teams
  • Experience with most of: PPMs, diligence processes, financial terms, legal terms

Technical Skills

  • Rigorous approach to following fund selection investment process
  • Knowledge of relevant markets and sectors to enable cross-examination of new fund strategies
  • Portfolio management skills, including techniques for track record analysis, team skills analysis and an appreciation of the role of ESG

 

Our Cultural Values 

We look for team members who aspire, as we do, to work at our best and to be:

  • Impact-led, commercially rigorous;
  • Tenacious in the face of challenges;
  • Collaborative and caring.

CDC is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background. 

 

Please provide a cover letter with your application