Development Impact Bond Investment Manager
- Help us build the world's first dedicated DIB fund
- Responsible to: Mila Lukic
- Start Date: ASAP
- Status: Live
- Location: London
- We are seeking an Investment Manager to manage the development of our new global fund dedicated to investing in outcomes contracts.
We are working on launching the world’s first fund dedicated to investing in outcomes contracts globally, with a primary focus on emerging markets. Outcomes contracts enable governments and donors to commission vital services from expert socially-motivated delivery organisations – and only pay for successful outcomes delivered. Social investors provide the working capital and, in the case of Bridges, the project management support necessary to ensure the contracts succeed. These contracts help achieve better life outcomes for vulnerable people and better value for the outcome payors.
Our new fund will build on our successful track-record in the UK, where to date we have launched 50 social outcomes contracts, supported 98 charities and social enterprises, worked with 64 commissioners and provided services to 20,000 beneficiaries (see https://www.bridgesfundmanagement.com/outcomes-contracts/ )
We see a market need to replicate and scale outcomes contracts in emerging markets where such approaches can effectively drive positive impact in areas like education, health and employment. An increasing number of governments, bilateral and multilateral donor organizations are supporting or planning to support projects using outcomes contracts. As such,we believe the next few years will see a strong growth in the number and scale of these projects globally.
Bridges is now seeking an Investment Manager to work on the development of our outcomes contracts activities in emerging markets, with a focus on Africa and South Asia. We are looking for someone exceptional to join our team as we build our pipeline of new projects and partnerships.
Priorities for the role:
There are six priorities for the role, spanning both the short and medium term:
- Managing the development of outcomes contracts opportunities: Identifying, originating and engaging with challenges faced by donor organisations / local governments, impactful delivery models and investment opportunities.
- Solving problems using first principles: Taking a leading role in conducting impact, financial and commercial analysis, and driving forward the investment process for opportunities.
- Create and maintain excellent stakeholder relationships: Engaging with and managing key stakeholders, including donors, delivery partners, advisors designing the projects, etc.
- Work with delivery teams on a day-to-day basis: This includes working with portfolio partners to maximise the social and financial impact of investments, by identifying issues and opportunities, initiating projects and driving execution.
- Supporting investor relationships and future fundraisings: Contributing to fundraising meetings to present pipeline opportunities and market development activities.
- Supporting the evolution of the fund: This will include reporting to the fund’s partners.
Key attributes we are looking for
- A genuine passion to drive social change: We are constantly searching for new ways to dramatically change the status quo. This requires a strategic thinker, with excellent attention to detail and intellectual rigour who will demonstrate the ability to lead on impact and value creation.
- 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. 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 assumptions. It also requires the desire to work in a dynamic environment, along with the ability to be solutions-focused and work in a small team.
- 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.
Suitable candidates will have:
- 5+ years of experience working in private equity investing, management consulting or similar sectors
- Strong investment, advisory and/or operational track record
- Direct investment and fund management experience
- Experience of working on international projects, preferably in Africa and/or South AsiaExperience working on projects tackling developmental challenges preferably in areas like education, health and employment
- Excellent academic qualifications – degree level education or experience
- Exceptional interpersonal skills, adept at working with multiple stakeholders
- Experience supporting the development of comprehensive value creation strategies
- Excellent financial and modelling skills, with proven experience supporting the development of comprehensive business/financial plans
- Strong strategic, commercial and entrepreneurial judgement
Experience of the social sector, impact investment and a desire to drive profit with purpose desirable