Portfolio Manager - Private Equity
LGPS Central Limited is an FCA regulated fund management company, managing the pooled assets of nine Midlands-based local government pension funds.
With combined assets of approximately £40bn, and representing the retirement savings of over 900,000 scheme members across over 2,000 employers, LGPS Central Limited’s Partner Funds are:
Cheshire Pension Fund, Derbyshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, Shropshire Pension Fund, Staffordshire Pension Fund, West Midlands Pension Fund, West Midlands Integrated Transport Authority Pension Fund, and Worcestershire Pension Fund.
LGPS Central Ltd is owned equally by eight of its nine Partner Funds and is dedicated to the management of local government pension assets. The aim of the Company is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment – all for the benefit of local government pensioners, employees and employers. We are also committed to fully integrating Responsible Investment and Engagement into all our investment processes.
The management of Local Government Pension Scheme funds is going through significant change, providing career-changing opportunities for those who have the relevant investment experience and who want to work within a Company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.
We are a diverse and inclusive employer and would welcome interest from all sections of the community.
This role is part of the Investment Team within the Private Equity Group as a Portfolio Manager. Based in the Midlands (ideally in Wolverhampton or alternatively in our Matlock office), the successful candidates will report to the Investment Director, Private Equity.
You will work with your peers in the Private Equity Investment Team to support the build out of a professional, high performing investment function. Specific responsibilities will include working on investing in the Private Equity Fund and Direct investments, managing the investment portfolio, expected to reach c.£2.5bn over the next few years, and ensuring the investments adherence to, responsible investment, and risk and compliance policies set by the Investment Committee within the Private Equity Fund investments for which you are responsible.
- Health and Safety
- Performance management and reporting
Delegated Authority Levels:
- Investment Director, Private Equity
Executive Directors, Board, Non-Executive Directors, Heads of Service, Portfolio Managers and other LGPSC staff.
- Assist the Private Equity team in the Management of the LGPS Central Private Equity Fund expected to reach c.£2.5bn.
- Document and ensure that you meet the investment targets of the Partner Funds in respect of Private Equity Fund.
- Under the supervision of the Investment Director, Private Equity integrate, document and maintain the Investment Committee’s investment policies applicable to the asset classes / portfolios for which you are responsible, in addition to observing the house policy on Responsible Investment and Engagement.
- Always manage risk and compliance in accordance with the Company’s Risk and Compliance Framework.
- Run your Investments in a manner which will deliver value for money for Partner Funds whilst identifying opportunities to improve the risk adjusted returns after charges in the Private Equity Fund.
- Provide documented assurance to the Investment Director, Private Equity that your investments are managed within the parameters set in the Prospectus and the IMA, and in accordance with the Company’s policies.
- Contribute to a rigorous culture of high performing, collaborative, research based and responsible investing across the Investment Team.
- Be an ambassador for LGPS Central within the investment community, Partner Funds, and with regulators and key stakeholders.
- When directed by the Investment Director, Private Equity, implement the creation of new external mandates or the retender or consolidation of existing external mandates.
- Always follow the manager selection, appointment, monitoring, reporting, retender and transition framework (the “Manager of Managers Process”) set by the Investment Director, Manager of Managers and Absolute Return.
- Take ownership of tasks the Investment Director, Private Equity asks you to manage, for example trading, regulatory work, currency management, futures, manager selection, transitions, investor relations and strategy development.
Under the direction of the Investment Director, Private Equity deliver a transparent, auditable and repeatable investment process.
- Experience of investment/financial analysis within Private Markets, especially Private Equity, preferably gained with an asset manager or other financial institution.
- Demonstrated skill in originating, analysing and recommending investments, documenting the rationale for making investments and monitoring them once selected.
- High degree of professional ethics, integrity and gravitas.
- Excellent judgement and analytical skills.
- First class interpersonal, collaborative and communication skills.
- Relevant degree and/or professional qualification
- IMC gained and working towards CFA qualification or similar / or relevant investment experience would be a plus.
If you are interested in the role, please forward your CV and cover letter highlighting your key strengths and experience in relation to the job profile by clicking on Apply.