Director of Fund Operations - Private Equity - Debt
Head of Fund Operations - Credit Fund
This is a retained assignment, searching for a Head of Fund Operations (Director level) for a leading and growing credit fund manager with an AUM of circa $14Bn.
The business has an excellent reputation and has grown whilst keeping a relatively small team. The London office is only 40 strong with the Finance and Operations team 5 strong. This leads that team and reports directly into the senior management team.
The Head of Fund Operations has a broad remit responsible for many of the firm's non-investment activities making this a wide and varied role. This person will be responsible for a range of duties across four major work streams as well as some crossover with IR:
Overall responsibility for project management of the design and implementation of new investment strategies and fund launches:
- Working with the senior management team to scope and plan new product ideas
- Managing external tax and accounting advice as required
- Close interaction with the General Counsel and legal team to implement new structures and project manage the passage of all legal documentation related to fund set-up and client on-boarding
- Working with Investor Relations to support the fund raising and investor due diligence process
Fund Operations represents the day to day management of the administration of the Funds and their associated Boards for new and existing funds. Specifically this includes:
- To recommend and manage strategic projects to ensure the optimisation of transaction holding structures as well as the ongoing management of holding companies for the funds within the respective strategies
- Board management activities such as liaison with the GP directors; preparation of GP Board reporting packs; management of GP Board calendar schedules; presentation at Board meetings to document Board minutes and resolutions; monitoring of actions and documentation signings
- Depositary liaison and ensuring all AIFMD and Regulatory reporting requirements are completed and any other supporting activity as required
The Fund Accounting team works closely with our third party administrators to ensure that the company fulfils is responsibility as AIFM to their Limited Partners in the management of the P&L of the Funds. Specifically, but not exclusively, this includes:
- Appointing, monitoring and tracking our third party suppliers such as administrator, auditor including SLA and KPI development
- Quarterly NAV reporting and Financial Statement preparation
- Hedging execution at a portfolio and fund level
- Input and management of yearend audit for all fund related companies
- Management and oversight of drawdowns and distributions on behalf of Limited Partners
Client Reporting and Investor Management
Fund Operations is responsible for ensuring that all client information from quarterly reporting through to ad hoc requests are of a consistently high quality. Specifically the team manages:
- Quarterly Reports
- Investor meetings
- Ad hoc queries
- Liaison with third party administrator Investor
- Investor relations and marketing support
With the seniority of this role considered, the successful candidate must have extensive PQE with experience of both fund operations and product development. Of course, all fund management backgrounds will still be considered. This is a great opportunity for any Head of Operations, Head of Fund Administration or similar to join an incredibly entrepreneurial, growing business. Further to the technical skill-set, cultural fit is incredibly important. Everyone is incredibly friendly and they operate a no-ego policy. It's a hard-working, relaxed and friendly environment and they do not want to disrupt this.
The compensation on offer will also reflect this level of seniority - they will always provide an increase with a conversation to be had regarding long term incentive plans.
This is a chance to join a growing credit fund manager with an excellent reputation that focusses on a bull asset class.
This is a highly confidential position and thus for more information and an equally confidential conversation, do not hesitate to reach out directly to Thomas Wesseldine at Marks Sattin or by applying.