About LPPI (-%About LPPI)

One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.

We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said - our people, flexibility and collaboration.

If you are an infrastructure investment professional and would like to join a company that is inclusive and forward-thinking, please read on.

Role Purpose (-%Role purpose)

The Deputy Portfolio Manager (“DPM”) role sits within the Infrastructure Investment team at Local Pensions Partnership Investments (“LPPI”). The Infrastructure Investment team is responsible for investing and managing client capital committed to LPPI Infrastructure IPV, GLIL Infrastructure Fund and directly owned infrastructure assets.
This role’s responsibilities span the full investment cycle from deal sourcing, through to investment analysis, deal execution and asset management. The person is involved in all elements of financial, regulatory, legal and tax, commercial and technical due diligence for potential new acquisitions. The DPM is expected to support performance reporting and value-creation within existing portfolio businesses. The individual reports to Investment Director, Infrastructure.
Over time, the individual is expected to build knowledge and capability across the investments function in order to support the wider team through the professional development of junior staff and the monitoring of investments.

Key Responsibilities (-%Key responsibilities)

1. Work with broader team across both direct and indirect investments to assist on idea generation for the Infrastructure asset class (strategic and tactical), by analysing sectors and companies, considering alternative options and preparing presentation materials as required.

2. Actively assist in execution of direct investment opportunities by supporting key transaction workstreams through:
• Overseeing and leading financial analysis and modelling performed by financial advisers;
• Developing internal valuation cases using various valuation techniques, assumptions and sensitivities.
• Managing due diligence and related advisers.
• Engaging with deal partners and co-investors.
• Engaging with wider LPPI functions, including Responsible Investment (“RI”); Compliance, Finance, Operations / Middle office and Legal teams.
• Reviewing capital structure options and managing external financing for transactions.
• Developing and presenting Investment Committee analysis and presentations.

3. Oversee execution of co-investment opportunities with third-party Infrastructure fund managers by:
• Engaging with third-party manager to understand due diligence undertaken to verify robustness of the proposed investment case.
• Conducting analysis of the proposed investment case, including running sensitivities and understanding impact of various fees and costs on LPPI’s net returns.
• Working closely with LPPI Operational Due Diligence team to conduct due diligence on the fund managers.
• Engaging with Legal, Compliance and RI teams to make sure that the co-investment is properly structured, and all of the required internal approvals are received prior to Investment Committee;
• Producing and presenting Investment Committee papers;
• Working with senior team members and IC members on key commercial documents and terms.

4. Support the Asset Management function by:
• Liaising with management teams and overseeing portfolio companies;
• Reviewing business plans and Board reports to track business performance against underwriting case and budget;
• Attending or representing the Funds on the Boards of portfolio companies;
• Ensuring governance procedures are followed; shareholder consents are obtained when required; and all statutory, contractual and corporate regulations are appropriately complied with;
• Assisting with oversight of portfolio performance and reporting;
• Leading on quarterly and annual portfolio valuation and reporting processes, including presentations to the Fair Value Pricing Committee and Investment Committee;
• Monitoring performance of follow-on investments and co-investments.

5. Continually develop both knowledge and skill in the professional investments arena by maintaining up to date information in relation to market development and regulation changes, through the attendance of external seminars and other professional courses as necessary.

6. Develop relationships with institutional investors, developers, fund managers, advisers and other infrastructure market participants.


Requirements for the role (-%Requirements for the role)

• Effective communication skills including the ability to influence and build good working relationships at all levels both internally and externally with potential partners and advisers.
• Excellent presentation skills (both preparation and delivery).
• Good level of numerical, analytical and report writing skills including a working knowledge of MS office tools to assist in the communication of key messages and to facilitate discussions and decision making.
• Strong attention to detail in analytical, numerical and written work produced.
• Comfortable working as a part of a wider team and on a self-directed basis.
• Ability to build professional networks and seek business opportunities.
• Promotes positive behaviour through own actions and attitude with the ability to deliver solutions within a team environment and be a flexible and supportive team member.
• 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.
• Significant, demonstrated transaction experience either on infrastructure deals or wider M&A gained at a Corporate, Investment Advisory, Financial Advisory or a Consultancy firm.
• Educated to graduate level (or similar) ideally gained within a Business, Finance and or investments related discipline.
• Post-graduate level qualified or working towards final stages of completion of a relevant Investments/Finance related qualification (CFA) with desire to actively maintain professional knowledge as required for the role.
• Knowledge and skills to build and / or operate a fully integrated financial model to support the due diligence process.
• Fully versed in various valuation techniques, with an emphasis on techniques used in private markets.
• Experience of a typical direct investment due diligence process.
• Understanding of financing market dynamics and financing workstream requirements.

Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.