Development Finance Debt, Investment Manager recruitment

CDC is the world’s oldest development finance institution and is wholly owned by the UK government’s Department for International Development (DFID). DFID uses a range of tools to achieve development and poverty reduction, including aid, budgetary support and technical assistance, but also private sector development. The private sector is the engine for economic growth and long-term poverty reduction. CDC plays a key role in DFID’s strategy to help build a thriving private sector in the developing world. 

CDC’s mission is to foster growth in sustainable businesses, helping raise living standards in developing countries. To do this, CDC provides much-needed capital to invest in promising businesses in developing countries where a lack of capital is holding back growth. Crucially, CDC operates as a commercial investor, expecting an appropriate return from its investments in order to encourage other private investors to put their capital to work in poorer countries and to ensure the businesses in which it invests are sustainable. It is a measure of CDC’s success that it has received no fresh investment from government since 1995 and has returned a profit (which has been reinvested) of £1.8bn since 2004. 

Debt investments will represent up to 20% of CDC’s total portfolio by 2015, so that CDC can target frontier markets where investment infrastructure is under-developed. This change will be particularly helpful to small and medium size enterprises.

Working on new debt business and existing debt transactions, increasingly taking full responsibility for origination. Identifying appropriate opportunities within CDC geography and leading or supporting on the structuring of primary transactions.

An experienced Manager will be capable of selecting and analysing new debt transactions, leading negotiations, and managing existing relationships.  

Day-to-day duties include:

• New Business:  Lead on selected new debt proposals, managing a deal team to select, analyse and execute such proposals. Take responsibility for negotiating and completing transaction documentation. The Manager will be responsible for building and managing selected relationships as well as supervising and training Executives and/or Analysts assigned as part of the team

• Portfolio management:  Responsibility for managing a portfolio of debt investments, working with an Analyst or Executive on each relationship. The Manager will be responsible for signing off on valuations and monitoring reports on such relationships. Also be responsible for compliance with CDC’s Investment Code on each such relationship, giving early warning to the MD of any serious breach or potential reputational issues for CDC.

• Evaluations: Where applicable you will be responsible for the appropriate valuation of debt investments. The Manager will identify case studies and assist in disseminating them to Corporate Communications, ESG, etc.

• Planning and Strategy: where applicable, contribute to planning and strategy.

Suitable candidates will have:

• At least six years business experience within an international financial environment, of which at least two years will have been spent in (or advising on) debt transactions, especially project finance

• Transaction origination and structuring  experience especially on project finance as part of a team, with good credit analysis and financial modelling skills.

• An active and demonstrable interest in developing countries, particularly Africa, with a willingness to travel.

•  PC literate, with a good understanding of database functionality.

• Communication skills (both oral and written), interpersonal skills and a desire to work in a multicultural environment.

•  As a member of a small team, a flexible, collaborative and “hands on” approach is a prerequisite.

Environmental, Social and Governance (ESG) Considerations

• As an employee of CDC, you must be aware of the importance of ESG considerations and support the continued delivery of CDC’s ESG compliance process.

• As a member of the investment team you will need to give certain attention and devote time to managing ESG performance of fund managers and also, indirectly, to portfolio companies.

• ESG matters should also be addressed in your ongoing dealings with fund managers and portfolio companies and in particular during site visits.

• CDC provides regular ESG training on relevant topics and issues throughout the year which, as a member of the investment team, you will be expected to attend.