Careers at Bridges

Analyst / Associate, Bridges Property Funds

The Role: Investing, Property

Responsible to: Bridges Property Funds

Start Date: As soon as possible

Status: Permanent

Location: London, UK

Bridges Fund Management

Bridges Fund Management is an entrepreneurial and award-winning specialist fund manager which manages a series of real estate and private equity funds. The group employs over 60 professionals in the fields of real estate, private equity, and sustainability consulting with offices in London and New York.

Property Funds

Bridges established its property fund management business in 2009 and now manages four funds which pursue an opportunistic strategy investing into a range of property transactions either directly or in joint venture with preferred asset management and development partners.

Bridges have had several very successful and pioneering investments / developments in the real estate space such as:

  • The Office Group, flexible office space for SME’s across multiple London location (exited to Lloyd Dorfman who sold it on to now Blackstone)
  • The Hoxton Hotel, boutique hotel in Shoreditch, London (exited to Ennismore Capital)
  • The Curve, Student Housing development in Whitechapel, London (exited to LaSalle)
  • Flexspace, managed workspace for SME’s across multiple locations in the UK (current investment)
  • Quick & Tower House, Office redevelopment Shoreditch, London (current investment)

The team have completed 45+ opportunistic investments across the four funds in both direct property and property-backed operating businesses and a variety of sectors, including healthcare, student housing, SME business space, land, and environmentally-led office and residential refurbishments / development projects. The investment team have a strong proprietary deal flow and most transactions are sourced off-market either directly or in association with joint venture partners.

Bridges’ latest fund – Bridges Property Alternatives Fund IV LP – has raised £220 million of fully discretionary equity available for investment. Bridges is backed by an institutional investor base that includes pension funds, local authorities, endowments, foundations, family offices, HNWs, banks and other financial institutions.

The Role

The property team primarily invests in operationally intensive and complex real estate assets, portfolios, and land / development deals with a focus on emerging locations, niche sectors, and value situations. Investments will be primarily in the UK market, where Bridges has an established network and successful track record. To support the continued growth of the property platform, there is now a need to hire junior resources to support the investment team. As a junior team member you will play an integral part of the investment team.

Priorities for the role

There are five priorities for the role, spanning both the short and medium term:

  1. Taking a leading role in screening new investment opportunities, joint venture partners, and other opportunities in the pipeline.
  2. Taking a leading role in conducting complex financial and commercial analysis / underwriting of new investment
  3. Compiling and comprehensively analysing both qualitative and quantitative market
  4. Supporting the execution of transactions. This includes assisting in running the due diligence process, writing Investment Committee reports, internal and external presentations, and closing of
  5. Supporting the management of the existing portfolio. This includes monitoring, updating / reviewing financial models and waterfall structures, quantitative analysis of the portfolio and business plans, reviewing capital commitments and distributions, and liaising with various teams within the

The key attributes we are looking for in a candidate:

  • A genuine passion for property and investing
  • Ability to think We will not succeed by copying existing models or structures. Our projects and investments all require the team to think through each problem from first principles and find the most effective and efficient new solution in each case. This requires logic, analytical rigour, and a willingness to question every assumption and voice your opinion.
  • Ability to build and maintain trust. We aim for the edge of what we believe is possible, from ourselves and our partners – this can only be achieved through mutual trust. Everything we do must be open to scrutiny, and full transparency. This requires excellent interpersonal skills and absolute

Suitable candidates will have:

  • Excellent academic background with degree in Finance, Real Estate, Economics, or Business from a leading university
  • 1-3 years of real estate transaction experience gained within:
    • Real estate investment firm or investment banking (IBD/advisory or financing side); or
    • Property consultancy or a Big 4 accountancy firm (advisory and/or modelling teams)
  • Excellent financial modelling skills are fundamental to this role (proven experience of building complex dynamic models and waterfall structures); corporate / operating modelling experience desirable
  • Exceptional interpersonal skills and ability to work well with others and independently
  • Excellent communication skills, both verbal and written
  • A good work ethic and will be a self-starter in a small entrepreneurial team Remuneration:

Competitive package, commensurate with candidate’s previous experience.

Application Process: Interested candidates should submit their CV, along with a cover letter, to recruitment@bridgesfundmanagement.com  by the 10th January 2019, using ref: Analyst/Associate, Real Estate

 

 

Investment Manager/Director, Bridges Social Outcomes Funds (dependent on experience)

The Role: To support the growth of Social Impact Bonds and Social Outcomes Contracts

Responsible to: Social Sector Funds

Start Date: As soon as possible

Status: Permanent

Background

Bridges Fund Management is a specialist fund manager dedicated exclusively to using an impact-driven investment approach to create superior returns for both investors and society at large. We believe that market forces and entrepreneurship can be harnessed to do well by doing good.  We have raised £1bn of capital committed to impact investing. We are recognised internationally for our 15-year track record of proven results and our ongoing thought leadership in this space.

Our founders, partners and investors are leaders in private equity, financial services, business, social policy and entrepreneurship. They provide valuable expertise and a huge network of contacts for Bridges, which help us work with our investments to give them the best chance to flourish.

In 2008, Bridges raised the Social Entrepreneurs Fund, an innovative vehicle to provide social investment to entrepreneurs, charities, and projects.  Since then, the “social investment” market in the UK has expanded rapidly, with the launch of Big Society Capital and a wide range of social investment Funds modelled on the original Bridges Social Entrepreneurs Fund.

Bridges continues to innovate its approaches, and has since then launched the world’s first Fund dedicated to investing in Social Impact Bonds and Social Outcomes Contracts (see www.bridgesfundmanagement.com/what-we-do/outcomes-contracts). The fund has backed more SIBs than anyone else, investing in 27 different contracts and in many social sector organisations to deliver these. We have seen these tools drive real change in how partnerships are established between the Government and provider organisations while creating significant impact for beneficiaries. As a result, we believe there is a growing evidence base that Social Impact Bonds and Social Outcomes Contracts can drive real change in society. The fund is now looking to its next phase of growth, particularly focused in the social policy areas of Children’s Services, Housing and Employment and Health and Social Care. These sectors have an increasing evidence base of Social Outcomes Contracts delivering for beneficiaries and providers and we believe the next few years will see strong growth in the number and scale of outcomes contracts.

The role

Bridges is now seeking an Investment Manager / Director to join the team.  We are looking for someone exceptional to join as we develop and ramp up new contracts and support existing contracts to maximise their social impact.

Priorities for the role

There are six priorities for the role, spanning both the short and medium term.

  • Develop Social Outcomes Contracts, initial number to be confirmed. This includes leading the operational and financial analysis and modelling across these new deals, as well as existing projects.  It also includes writing and presenting investment papers to support these new projects.
  • Launch Social Outcomes Contracts and meet impact and financial fund targets. This includes developing a deep understanding of the operations of these investments and leading both strategic and operational initiatives to achieve impact and financial targets.
  • Create and maintain excellent stakeholder relationships. This includes engaging with and managing key stakeholders, such as investee companies and key commissioner partners to design, develop and iterate accurate yet easy to use impact and financial models.  It also includes working with various stakeholders to develop and refine key assumptions around operations, impact and finance.
  • Manage investee team on day-to-day basis. This includes overseeing all team operations / administration and working closely with portfolio partners to maximise social and financial impact of investments.
  • Solve problems using first principles. This includes identifying, creating and implementing continuous process and delivery improvements on an on-going basis.
  • Support management of the investment team on a day to day basis. This includes running team operations.

The key attributes we are looking for in a candidate:

  • A passion to drive social change. We are constantly searching for ways to dramatically improve outcomes for beneficiaries and lower the cost of doing this.  We work across housing and employment, children’s services, health and education to drive this change.
  • Ability to deliver more than the market expects. We believe that more is possible than the current system is achieving, and we need to demonstrate this in practice before others will believe it.  This requires tenacity and relentless optimism.
  • Ability to think differently. We will not succeed by copying existing models or structures.   Our projects and investments all require the team to think through each problem from first principles, and find the most effective and efficient new solution in each case.  This requires logic, analytical rigour, and a willingness to question every assumption.
  • Ability to build and maintain trust. We aim for the edge of what we believe is possible, from ourselves and our partners – this can only be achieved through mutual trust. Everything we do must be open to scrutiny, and full transparency.  This requires excellent interpersonal skills and absolute integrity.

Skills and Qualifications Required

  • 5-8 years of experience working in consulting, finance or similar sector
  • Strong investment track record
  • Direct investment and fund management experience
  • Proven experience supporting the development of a comprehensive business plan / financial plan
  • Excellent financial modelling and analysis skills
  • Strong strategic, commercial and entrepreneurial judgement
  • Exceptional interpersonal skills, adept at working with multiple, high level stakeholders
  • Desirable: Experience of working with / in the social sector / government commissioning
  • Desirable: Experience in one of our key sectors (Housing and Employment, Children’s services, Health and Social Care, Education)

Remuneration

Competitive package for the social investment sector, commensurate with candidate’s previous experience.

Application Process

Interested candidates should submit their CV, along with a cover letter to, to recruitment@bridgesfundmanagement.com by the 10th January 2019, using ref: Investment Manager/Director SOF

 

 

 

Impact and Finance Director

The Role: Oversight, reporting and management of the impact and financial performance of the portfolio of Bridges Social Outcomes Contracts

Responsible to: Social Sector Funds

Start Date: As soon as possible

Status: Permanent

Background

Bridges Fund Management is a specialist fund manager dedicated exclusively to using an impact-driven investment approach to create superior returns for both investors and society at large. We believe that market forces and entrepreneurship can be harnessed to do well by doing good.  We have raised £1bn of capital committed to impact investing, and are recognised internationally for our 15-year track record of proven results and our ongoing thought leadership in this space.

Our founders, partners and investors are leaders in private equity, financial services, business, social policy and entrepreneurship. They provide valuable expertise and a huge network of contacts for Bridges, which help us work with our investments to give them the best chance to flourish.

In 2008, Bridges raised the Social Entrepreneurs Fund, an innovative vehicle providing social investment to entrepreneurs, charities, and projects.  Since then, the “social investment” market in the UK has expanded rapidly, with the launch of Big Society Capital and a wide range of social investment Funds modelled on the original Bridges Social Entrepreneurs Fund.

Bridges continues to innovate its approaches, and has since then launched the world’s first Fund dedicated to investing in Social Impact Bonds and Social Outcomes Contracts (see www.bridgesfundmanagement.com/what-we-do/outcomes-contracts). The fund has backed more SIBs than anyone else, investing in 27 different contracts and in many social sector organisations to deliver these. We have seen these tools drive real change in how partnerships are established between the Government and provider organisations while creating significant impact for beneficiaries. As a result, we believe there is a growing evidence base that Social Impact Bonds and Social Outcomes Contracts can drive real change in society. Please see http://www.bridgesfundmanagement.com/publications/better-outcomes-better-value-evolution-social-impact-bonds-uk/ for how we believe these contracts can drive better outcomes and better value for government.

The role

Bridges is now seeking an Impact and Finance Director to join the team. We are looking for someone exceptional to join as we develop and ramp up new contracts and support existing contracts to maximise their social impact.

There are several priorities for the role, spanning both the short and medium term:

  • Lead and deliver accurate and timely impact and financial processes, including production of impact scorecards and management accounts and execution of regular forecasting exercises. This includes developing excellent modelling and analysis and working closely with the team on each project to support its business and impact plan and long-term strategy, to maximise the social outcome successfully delivered by each project.
  • Lead and provide timely and accurate impact and financial information to relevant stakeholders at both project and portfolio levels. This includes providing timely and accurate impact and financial information and leading the financial and outcomes reporting to stakeholders
  • Ensure all regulatory requirements of all statutory bodies are met and filed regarding all the organisation’s financial affairs. This includes protecting stakeholders’ interests in in line with appropriate legislation and best practice in the sector and ensuring financial and contractual processes are based on clear policies and procedures that are effective and support the organisation to achieve its mission
  • Develop and embed a risk management framework, including implementing proper audit, governance, financial planning and control methods.

The key attributes we are looking for in a candidate

  • A passion to drive social change. We are constantly searching for ways to dramatically improve outcomes for beneficiaries and lower the cost of doing this. We seek a strategic thinker, with excellent attention to detail and intellectual rigour.
  • Ability to think differently. We will not succeed by copying existing models or structures. Our projects and investments all require the team to think through each problem from first principles and find the most effective and efficient new solution in each case.  This requires the desire to work in a dynamic environment and the ability to be solutions focused and work in a small team.
  • Ability to build and maintain trust. Everything we do must be open to scrutiny and fully transparent. This requires excellent interpersonal skills and absolute integrity alongside an ability to provide positive, dynamic, tenacious and flexible leadership at all times.
  • Ability to deliver more than the market expects. We believe that more is possible than the current system is achieving, and we need to demonstrate this in practice before others will believe it. This requires logic, analytical rigour, and an ability to communicate complex financial data clearly to a range of audiences.

Skills and qualifications required

  • Proven experience of managing finance functions, including producing and managing budgets with diverse income streams and expenditure, of developing and managing finance systems and implementing financial policies, processes and controls alongside ability to lead and present on long-term financial planning and cost analysis that proactively contributes to the strategic direction of an organization
  • Experience of ESG or impact analysis and reporting is desirable
  • Experience of working with Boards and/or senior management teams and ability to foster a collaborative culture with internal and external stakeholders
  • Exceptional interpersonal skills, adept at working with multiple, high level stakeholders
  • Desirable: 5+ years of experience of working in finance, IT and operations
  • Desirable: degree-level education or equivalent, alongside a professional accountancy qualification. Up to date knowledge and experience of data protection
  • Desirable: Experience of working with / in the social sector / government commissioning

Remuneration

Competitive package for the social investment sector, commensurate with candidate’s previous experience.

Application Process

Interested candidates should submit their CV, along with a cover letter, to recruitment@bridgesfundmanagement.com  by the 10th January 2019, using ref: Impact and Finance Director.

 

 

 

Performance Manager, Positive Families Partnership

The Role: To act as the key coordinator and liaison with Borough commissioning leads, delivery partners and the PFP management team, in providing insight, evidence and analysis to enable effective operational and strategic decision making ensuring the Positive Families Partnership Social Outcomes Contract achieves its stated goals and objectives.

Responsible to: Positive Families Partnership Managing Director and Programme Director (“PFP Management”)

Start Date: 4 March 2019 or as soon as possible

Background

Positive Families Partnership (“PFP”) is a unique and innovative collaboration between the social sector, local government and leading social investors. It has been created to give the opportunity for vulnerable young people across London to access therapeutic programmes that can help them stay out of care and deliver better outcomes for both them and their families.

This pioneering initiative has been jointly commissioned by London Borough Councils of Sutton, Tower Hamlets, Bexley, Merton, Newham and Barking and Dagenham with support from the Big Lottery Fund using National Lottery funding.  The long-term aim of the project is to work with many more Boroughs across London.

PFP’s contract will provide access to therapeutic programmes for 350+ vulnerable young people and their families.  The therapeutic programmes (known as Multi Systemic Therapy (“MST”) and Functional Family Therapy (“FFT”)) are designed to help address a young person’s behavioural issues and improve how the family functions.  These programmes are intensive, holistic interventions, based on rigorous evidence and are intended to prevent or reduce young people from accessing more formal care including fostering and residential

PFP has carefully selected three specialist delivery partners as part of this consortium, who collectively bring decades of experience of implementing evidence-based programmes across the UK: Family Psychology Mutual, Family Action, and the South West London & St George’s Mental Health NHS Trust.

It has been structured as a Social Outcomes Contract, which means PFP will be paid only if it succeeds in meeting specific outcomes related to keeping the young person with their family and out of formal care.

Positive Families Partnership will benefit from board support from Social Finance UK and Bridges Fund Management, with the latter also providing over £4.5m to cover the up-front costs of the programme via a social impact bond.

PFP is managed by Managing Director Andrew Pickup and Programme Director Brigitte Squire MBE. Andrew brings over 20 years’ experience successfully building and developing health and social care organisations as both investor and manager across both the public and private sectors.  Brigitte brings over 35 years clinical experience and expertise in Intensive Evidence Based Programmes including MST and FFT.

Role Outline and Description

As the most senior full-time role within PFP, the Performance Manager will take the lead on ensuring the range of regular reporting deliverables and various other ad hoc projects are completed accurately and in a timely manner.

The post holder will act as the key coordinator and liaison with Borough commissioning leads, delivery partners and the PFP management team, in providing insight, evidence and analysis to enable effective operational and strategic decision making ensuring the Positive Families Partnership Social Outcomes Contract achieves its stated goals and objectives.

The post holder will be responsible for the co-ordination of the Positive Families Partnership delivery on behalf of the delivery consortium and encourage and support greater collaboration across the Boroughs and Delivery Partners to maximise both efficiency and effectiveness.

The post holder will project manage much of PFP in its guise as a social outcomes contract and will be responsible for continued development of positive relationships and engagement with Boroughs, delivery partners, investors and wider partners through the delivery phase.

The project has been operational since February 2018 and the team has developed sound governance structures and data collection systems. The Performance Manager will be supported by a data analyst to assist in collecting and reporting on information gathered.

Your Challenge

  • Collection, Analysis and Reporting of Data
    • Acting in ‘quality control’ capacity in the timely and accurate collection, analysis and reporting of data
    • Drawing insights from the data and ensuring analysis is presented clearly and concisely for stakeholders
    • Ensuring data dashboards are relevant and provide the necessary early warning mechanisms to identify priorities for action
    • Ensuring the smooth transfer and validation of key outcomes data with Boroughs to evidence outcomes achieved
  • Operational and Strategic Relationship Management
    • Support PFP Management in:
      • Day-to-day management of Delivery Partner relationships; including running and attending Delivery Partner management meetings when needed
      • Building and maintaining strategic and operational relationships with commissioners in the Boroughs
      • Keeping PFP Management and Board informed of progress and of any key issues
    • Reporting
      • Take the lead in creating packs for monthly board meetings for review by PFP Management and Board
      • Create ad hoc analysis to support Board decision making as needed
      • Evolve board pack format as needed to ensure it is relevant for ongoing decision making
      • Create other reports as required by the PFP Management Team
    • Business Development
      • Work with PFP Management to optimise utilisation of, develop performance by and grow as required the programme delivery partners’ resource
      • Project management associated with on-boarding potential new Borough partners
    • Management of Operational and Financial model
      • Ensure the regular updating of the operational and financial model to ensure PFP is continually aware of progress as against stated goals and objectives
      • Create reports as required for PFP Management and Board which provide key insights in support of operational and strategic decision-making
      • Manage outcome payments processing in an accurate and timely manner and proactively resolving issues as they arise notifying PFP Management as required
    • Day-to-Day Management of the Performance and Data Analyst role
      • Setting priorities in conjunction with PFP Management and the overall delivery needs of the organisation to ensure efficiency and effectiveness

About you

You will have the following skills, knowledge and competencies:

Essential

  • Ability to manage a wide range of projects, priorities and individual workstreams in alignment with PFP’s stated goals and objectives
  • Strong report-writing and data analytical skills
  • Experience of carrying out bespoke pieces of work to tight timescales
  • Technical skills in excel and financial management, to manage the operational/ financial model
  • Excellent interpersonal, communication and negotiation skills
  • Ability to develop and manage positive and collaborative relationships with many partners and stakeholders with different perspectives and interests
  • Sound strategic, commercial and entrepreneurial judgement including understanding of contracts
  • Team player with strong work ethic and ability to take initiative in proactively resolving issues
  • Holds at least a degree level qualification
  • Experience in a strategy consultancy firm or similar

Desirable

  • Experience working in a start-up, small company or entrepreneurial environment where you need to take the initiative to make things happen
  • Some knowledge and understanding of children’s social care services
  • Understanding and ability to navigate governance structures within local authorities
  • Passion and desire to make a positive difference to the lives of vulnerable young people and their families

Recruitment Details

The salary of the post holder will be negotiable based on their current arrangements, knowledge and experience.

Expressions of interest should be no more than 2 sides of A4, detailing how each candidate meets the requirements of the role description and the key competencies.  These should be returned to PFP by email to recruitment@positivefamiliespartnership.com no later than 10.00am on 23rd January 2019Interviews are expected to take place either on 30th January or 1st February with the intention that the successful candidate will be able to commence their duties by 4 March 2019 or soon after.