The role will be primarily responsible for providing analytical support for managing and constructing LPPI’s Credit Investments portfolio in accordance with the agreed investment strategy.
Key activities include:
- Sourcing and researching investments.
- Producing internal reports and papers and presenting to the relevant Committees and groups.
- Monitoring the Credit Portfolio; managing risks and reporting performance.
- Liaising with various teams and functions across the Investments group to facilitate effective portfolio management.
In accordance with the approved objectives and asset class mandate, optimise the risk-adjusted returns of the Credit Portfolio. Assist the Portfolio Manager in ensuring that LPPI’s investments are:
- Consistent with the Fund’s investment aims of maximizing returns without undue risk of loss and minimising expected losses
- Managed by ‘best of breed’ managers by contributing to manager selection whilst monitoring and reviewing existing managers against their respective performance metrics
- Fulfilling LPPI’s cash flow requirements
- Providing value for money by managing the fund’s expense ratio efficiently
- Improving the underlying fund managers’ accountability and asset-level transparency
Contribute to developing the Credit Strategy and monitoring developments in the marketplace and available investment opportunity sets.
Producing regular portfolio management reports for internal monitoring and client reporting. Ensuring that Credit Portfolio information fact sheets and marketing materials for external consumption are accurate and updated.
- Perform due diligence work and prepare investment reports. This will include both qualitative and quantitative analysis.
- Play an important role in the researching of appropriate fund managers.
- Carry out valuation direct investments using internal valuation model and present the valuations regularly to the Fair Value Pricing Committee. Produce valuation papers and be prepared to justify and explain the model and inputs to the model.
- Assist in negotiating terms and legal documentation with fund managers. This includes review and completion of subscription documentation and side letters from the Credit team’s commercial perspective.
- Ensure that approved investments are fully implemented and executed by driving the implementation process and liaising with Strategy, Risk, Operations, Legal, Finance, Governance, Compliance and Responsible Investing teams.
- Manage day-to-day cash management including FX hedging of the Credit Portfolio by liaising with the Hedge Manager, Operations, and other relevant parties.
- Analyse individual investment proposal in direct special purpose vehicles or segregated mandate accounts (as applicable) and formulate recommendations.
- Based on recommendations that have been approved by the Delegated Authority or Investment Committee, ensure that recommended actions are implemented, including necessary modification of legal agreements, if applicable.
- Fully understand and track the fees paid to the managers and, where possible, help in driving improved value for the clients.
- Continually develop knowledge and skill on all matters relating to Credit assets and attend professional courses and/or seminars as approved by the Portfolio Manager.
- Attend appropriate Credit Asset class networking group activities to develop relationships with fund managers and other Credit asset investors.
- Degree level educated, preferably gained within a finance, economics, mathematics, or statistics related discipline.
- An enthusiastic and enquiring personality backed by a desire to take on new challenges and learning opportunities.
- A proactive, self-motivate team player who can manage a high workload with multiple deadlines, ensuring expectations are managed throughout.
- Ideally three to four years of experience in private markets investments or financial analysis gained within a relevant organisation. Possession of post-graduate qualifications in accounting or finance an advantage.
- A demonstrable knowledge in private credit, and ideally previous experience in manager selection, co-investment and direct deals.
- Demonstrable theoretical knowledge and practical experience of portfolio optimisation and asset allocation encompassing alternative asset knowledge.
- Qualitative and quantitative analytical capabilities including advanced use of spreadsheets and database software.
- High proficiency in MS Office applications including Word, Excel and PowerPoint.
- Excellent writing skills and ability to produce high quality, professional reports.
- The ability to build positive and productive working relationships with a variety of internal and external partners including fund managers.
- An understanding of the breadth of the diversity agenda including embedding good practice and an understanding of LPP’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.