Investment Director

Acumen works to solve problems of poverty and build a world based on dignity. The organisation invests patient capital in businesses whose products and services help people living in poverty to transform their lives. H2R is working to bring clean energy to some of the “hardest to reach”countries in Africa.

About the role

Acumen is seeking an Investment Director to lead the investments of H2R. This role will be directly involved in sourcing, evaluating, underwriting, and managing private credit investments for off-grid solar enterprises to expand and grow in identified H2R countries.

This role will report to the Managing Director of the Hardest to Reach Impact Debt Fund.

The role is expected to foster strong collaborative working relationships with key stakeholders, including sponsors, lenders, investors, governments, and regulators, as well as to raise significant brand awareness for H2R.

Key dimensions of the role 

Origination

• Build relationships with all H2R stakeholders within the focused countries, including, business owners, borrowers, lenders / investors and risk partners; steering deals from identification to close in line with H2R’s investment policy, risk appetite and development impact mandate.
• Develop pipeline, source and evaluate new transactions, pre-screen transactions according to eligibility and ESG criteria.
• Strong networker and relationship builder.

Deal Execution

• Conduct due diligence, in preparing credit approval memos, present transactions to the investment committee to obtain credit approval, negotiate and review legal documentation, and participate in deal closing.
• Retain oversight of the transaction, quality of work, approach taken, and outputs as the team undertakes due diligence, structuring, qualitative and quantitative appraisals, preparation of Credit Committee papers for the H2R Investment Committee, reviewing and executing legal documentation to reach financial close.
• Financial modelling – including review, stress-testing and carrying out of scenario analysis.
• Coordination with Sustainable Developmental Impact (SDI) and Health Safety Environmental and Social (HSES) teams on respective assessments.
• Coordination with internal teams for client on-boarding, KYC checks and related tasks.

Portfolio Management

• Manage portfolio performance: It’s about understanding the core issues and where to intervene. And it’s also about covenant compliance, periodic/annual reviews, examining amendments and waiver requests, providing performance updates to managers, identifying, and acting on warning signals, participating in portfolio reviews, cooperating in the validation of impact data collection and analysis and incentives to borrowers for extending first time clean energy access.

Strategy Development

• Work closely with the Managing Director, for developing and delivering the H2R strategy.
• Support fundraising and reporting with investors, including development finance institutions.
• Ensure the delivery of the business plan and wider strategic aims.
• Support on strategic planning regarding our market positioning, strategic relationships, products, etc.
• Lead the investment team to help the team understand the investment strategy.

Leadership and Team Management

• Always leads by example and sets the tone for the culture of the organisation.
• Demonstrates accountability and actively encourages everyone to operate with the highest level of integrity.
• Promotes exemplary working behaviours with a strong focus on collaboration and ‘rolling up your sleeves’.
• Leads and manages the Investment Team to deliver high-quality results, taking full ownership of complex issues and outcomes, effectively managing pressure situations, while ensuring H2R’s values are maintained.
• Undertake other duties as and when required.

Skills and qualifications

The ideal candidate will possess, but is not limited to:

• 12 years + transactional experience in venture debt or private credit funds in emerging markets with a focus on Off-Grid transaction (Solar Home System and mini-grid financing).
• Master’s degree in finance, economics, business, or a related field.
• CFA/CPA qualification would be advantageous.
• Experience in conducting commercial and operational due diligence.
• Background in financing SMEs in an advisory or principal role; operational understanding of what it takes to build and run earlystage businesses across finance, marketing, sales, distribution, customer service, talent, governance.
• Strong experience in securitization transaction type of structure.
• Strong financial accounting and financial statement analysis skills.
• Strong financial modelling and cashflow analysis skills.
• Good knowledge of transaction legal documentation.
• Track record of delivering a strong client focused service.
• Experience in line management.
• Excellent verbal and written communication skills in English.
• Have good networks across financial intermediaries, impact investors, and other stakeholders in Africa.
• A commitment to serving people living in poverty.
• A willingness to roll up your sleeves with your team and get to work. There are people that need clean energy, after all.
• Self-reflective and aligned with Acumen values.
• Permanent work authorization for Kenya.

Personal Attributes:

• Self-starter, able to collaborate closely with colleagues.
• Organized and able to manage competing priorities.
• Entrepreneurial, but with a strong ethical foundation.
• Resilient, not put off by setbacks.
• Proactive and solutions-orientated.
• Demonstrable cultural awareness – ideally experience of working in an international environment.
• Passion to make a difference in frontier markets.
• Well-developed diplomatic, interpersonal and communication skills to manage internal and external stakeholders.
• Ability to get up to speed quickly in a technical area of work, and to understand and navigate complex issues.
• High integrity, strong ethical principles and ability to command respect at all levels.
• Commitment to good governance and ethical business practices. Acumen has a zero tolerance policy on corrupt business practices.
• Careful diligence and to engage in governance is expected.
• Willingness to travel extensively and to be committed to achieving the company objectives.
• Demonstrated leadership capabilities.

Valuing diversity is essential to Acumen’s work. Acumen aims to act in accordance with and promote equality legislation by avoiding unjustified discrimination and recognizing discrimination as a barrier to equality of opportunity, inclusion and human rights.

Don’t meet every single requirement? Studies have shown that women and people of colour are less likely to apply for jobs unless they meet every single qualification. At Millar Cameron, we are dedicated to supporting our Clients in building and supporting diverse and inclusive workplaces and culture, so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. You may be just the right candidate for this or other roles.

Since 2007 Millar Cameron has specialised in sourcing leadership and keyperson talent across a number of industries, including agribusiness, international development, industrial, consumer, financial and professional services, private equity, and technology, media and telecommunications. Our mission and purpose is to positively contribute to the development of Africa, and other emerging markets, through the provision of people.