Job Title: Investment Director/Portfolio Manager
Client: Financial Services Institution
Salary: Competitive Salary Package + Benefits
- Support the CEO in delivering Client’s investment strategy and oversee the implementation/setup of the private equity fund (GP) and investment subsidiary.
- Manage Fund of Funds and Direct Investments (Normal Investment and Special Situations Investment) for the Client.
- Actively participate in the Board and Investment Committee meetings of the PE fund (GP) and investment subsidiary.
- Lead the investment process including deal sourcing, initial deal screening, conduct preliminary analysis and evaluation, structuring and due diligence, asset management and reporting and exit planning.
- Provide strategic direction for the execution of each fund’s objectives including fund raising, investor relations, fund management and reporting and general operations oversight.
- Responsible for business development and generating investment pipeline.
Duties and Responsibilities
- Provide leadership support and strategic direction in the execution of each funds’ mandate.
- Prepare and implement the strategic and annual plans for each fund and ensure that these are formally updated on a regular basis.
- Provide advice to the Board on rebalancing, asset management, fund level control and investment mandate compliance for the combined assets under management in each fund.
Business Development and Generating Investment Pipeline
- Attract and retain a long-term and balanced investor base.
- Work with the team to develop a strong pipeline of good quality investment opportunities.
- Present Client’s views and provide information on its investment management operations in internal and external forums.
- Establish relationships within the global investment community e.g. investment managers, dealer counterparties, central banks and other professionals operating in financial services industry.
- Develop Client’s communications and media profile.
- Manage communications with external stakeholders.
Fund Raising and Investor Relations
- Develop and deliver fund raising strategy for the Client.
- Develop diverse range of sustainable funding to support Client’s objectives.
- Play a key role and be instrumental in providing information to various appropriate investors to support fund raising efforts.
- Engage donors and investors and prospective donors and investors to discuss the current and potential impact of each investment.
Initial Deal Screening
- Ensure that the potential transactions are in line with the fund’s strategy, development impact objectives and highlight relevant regulatory and reputational risks, conflict of interest and environmental and social issues.
- Ensure that there is thorough preliminary analysis and evaluation of potential transactions and validation of the investment thesis prior to the deal being presented to the investment committee.
- Lead financial, legal, commercial and ESG due diligence activities.
- Manage and interact with the different consultants as regards making investment decisions.
- Build a detailed financial model
- Ensure that the Final Investment Approval Memo to IC meets best in class standards with minimal rejection rates at the IC
- Finalise negotiations of shareholder rights and deal structure
- Ensure preparation of investment approval document containing a detailed analysis on the investment opportunity, deal structure and terms and the results of the detailed legal, financial, commercial and other specialist due diligence on the portfolio company.
- Develop and maintain internal guidelines to support the management of investment portfolio in accordance with each fund’s investment strategy.
- Serve as the senior investment executive and an expert in all aspects of investment management from deal-flow to execution.
- Review published trade research reports of portfolio companies and sectors.
- Interact with the management of portfolio companies and review performance on regular basis.
- Discuss with portfolio companies the strategies or action steps to enhance performance.
- Inform the Board on investment management activities and the developments within each fund through regular reporting.
- Oversee the compilation of periodic reports (monthly, quarterly and annual reports).
- Distribute investor quarterly and annual reports.
- Independently monitor and report on industry trends to minimize investment risks.
- Ensure that there is proper financial completion of procedures of transactions and relevant
- memoranda prepared.
- Ensure preparation of watch list reports if required and enhance active management.
Business Operations Management
- Propose an annual budget and cost framework for business operations to the Client Board.
- Prepare and deliver reports on proposed investments to the Client Board.
- Assist the CFO in preparing the required monthly, quarterly and yearly reports.
Investment Exit Management
- Develop exit strategy for the fund in case of maturity or declining value.
- Perform an ongoing review of the exit strategy.
- Oversee exit activities to ensure expected value is realized from portfolio companies.
Leadership and People Management
- Provide oversight, direction and coaching to team members.
- Create an enabling environment that empowers staff to achieve set goals and objectives.
- Provide appropriate assignments and experiences to support the learning and development of team members.
- Carry out regular reviews and assessment of all staff once a year.
- Demonstrate high standards of ethical behaviour and integrity.
- Address inappropriate behaviour demonstrated by team members and handle accordingly as set out in the company policy.
- Perform other duties assigned by the management and/or Board or related committees.
- Bachelor’s degree from a reputable university with MBA/MSc or PhD/DBA in relevant field.
- Relevant internationally recognized professional certification such as CFA/CPA/ACCA.
- Minimum of 15 years’ experience in private equity with profound understanding of origination, structuring, business valuation and closing of investment banking deals and/or Fund management.
- Excellent oral and written communication, business presentation and analytical skills with good general knowledge of key investment sectors.
- Strong business acumen, maturity and tact, including the ability to relate with highest levels of management of financial institutions.
- Experience in a start-up within the financial services or private equity space.
- Experience in disposing or exiting investments.
- Strong quantitative skills that can be applied to developing original financial models as well as reviewing the quantitative work of other team members.
- Knowledge of investments risk management.
- Proven experience in managing people.
- Knowledge of impact investing and prior experience working or interacting with DFIs in Africa.
- Deal sourcing, evaluation and execution experience in Africa.
- Strong track record of raising equity financing for companies operating in Africa.
- Deep understanding of the Bank’s mandate and strategy.
Skills & Competencies
- Financial Modelling Skills
- Knowledge of Equity Investment and Project Finance
- Business/Marketing intelligence
- Business Valuation
- Portfolio Management
- Financial and Business Management
- Deal Origination and Management
- Knowledge of relevant regulations in the financial services industry
- Attention to detail
- Relationship Management
- Deal structuring and negotiations
- Experience/success in PE exits or sales
- Risk Management
- Honesty and integrity.
Key Performance Metrics
- Increase in revenue attributable to portfolio
- Change in NPV of portfolio
- Return on investment
- Internal Rate of Return (IRR) of portfolio
- Portfolio Value Vs. Cost
- Budget variance
- Number of transactions rejected at IC on matters which are within the control of CIO
- Number of unsuccessful investments due to inactions by the CIO.
- Degree of strategic alignment of proposed portfolios
- Effectiveness of proposed portfolio management strategy
- Time to implementation of identified improvements in portfolio companies.
- Feedback from stakeholders.
- Timeliness of assessment report of proposed portfolio
- Regulatory and Compliance
- Number and frequency of sanctions received by regulatory bodies
- Number and frequency of compliance violations raised by Compliance Officer.