Senior Principal, Funds Private Investments (London Office)
The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. For more information about the CPP Investment Board, please visit www.cppib.ca.
Role Summary
Reporting to the Vice President – Head of Funds, the Senior Principal will be based in CPPIB’s London office and lead deal teams in making and managing private equity fund investments globally, with a focus on the European market. The Senior Principal will lead deal teams in evaluating potential private equity fund managers, conducting research, developing recommendations, negotiating terms and executing fund commitments. The Senior Principal also has primary responsibility for managing relationships, monitoring investments and participating in group investment decisions.
Role Specific Accountabilities:
A) Analyze Investment Opportunities:
i) Review:
- Source attractive private equity fund investment opportunities
- Lead the research, analysis and evaluation of private equity fund managers, including managing the overall evaluation process
- Oversee the development of complex dynamic financial models to analyze investment opportunities (including testing assumptions and sensitivities)
- Lead the deal team in performing due diligence on private equity funds managers including past investment performance, quality of investment teams, investment merits and risks, expected returns, etc.
- Oversee the analysis of track record information of managers
- Joint responsibility for the maintenance of a private equity fundraising forward calendar
- Meet with fund managers and review past performance, strategy, outlook, industry issues, and other relevant topics as required
- Conduct reference calls with portfolio company management, Limited Partners and others
- Apply “Total Portfolio Approach” as it applies to fund commitments, including PME+ and other analysis
ii) Recommend:
- Make investment recommendations based on the results of the team’s due diligence and analysis
- Oversee the drafting of Manager Recommendations outlining potential investment opportunities
- Present investment recommendations to the Private Investments Investment Committee and the Investment Department Decision Committee and Board, as required
B) Execute Fund Commitments:
- Manage relationships with investment partners (other Limited Partners) and advisors (financial, legal, etc.)
- Lead the negotiation and execution of confidentiality agreements, LPAs, and other transaction-related legal documentation
C) Monitor Private Equity Funds:
- Review and approve capital calls and distributions related to fund commitments
- Coordinate with CPPIB Finance Operations group with respect to monitoring of fund commitments
- Monitor ongoing financial performance of funds and portfolio companies
- Oversee the valuation reviews of funds
- Attend annual meetings and advisory board meetings as required
- Primary responsibility for building and leveraging relationships with Limited Partners and others
- Assist in sourcing co-investment, co-sponsorship, secondaries and private debt (and others) opportunities in support of other CPPIB investment activities
D) Build the Team:
- Represent CPPIB externally and be an active communicator of the organization’s strategies and objectives
- Review, analyze and comment on investment recommendations prepared by other team members
- Help to lead the strategic decision making process for the team
- Participate in and contribute to weekly team meetings
- Lead the training and development of team colleagues
- Play a lead role in recruiting activities including liaising with universities, networking, sourcing candidates and interviewing prospective hires, as required
- Other relevant duties and projects as assigned
If you possess the following, we’d like to hear from you:
- 10 to 15 years of private equity, investment banking or other relevant experience
- MBA (with finance focus), LLB or equivalent is considered an asset
- CFA, CBV or CA designation is considered an asset
- Additional languages an asset
- Strong research, financial modeling, analytical and valuation skills
- Proven experience in leading successful deals (e.g. sourcing, analysis, due diligence, execution and monitoring)
- Experience leading successful negotiations with multiple stakeholders and executing a wide range of agreements (confidentiality, Limited Partnership Agreements, etc.)
- Proven track record of successful investment recommendations
- Solid, demonstrated experience building, overseeing, leading, coaching and developing deal teams (e.g. recruiting, training, coaching, etc.)
- Demonstrated persuasive skills
- Superior interpersonal skills; solid, demonstrated communication skills (oral and written) as well as exceptional presentation skills
- Professionalism and integrity
- Flexibility, adaptability, initiative and creativity
- Excellent judgement and “sense of the deal”
- Ability to meet tight deadlines and work well under pressure
- Team player who enjoys a high performance culture
- Willingness to travel extensively.
If you are looking for an exciting opportunity and to build a career in an innovative and dynamic investment organization, please submit your resume online JOB ID 464
We thank all applicants for their interest; however, only candidates selected for interviews
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