LGPS Central Limited is an FCA regulated fund management company, owned by and managing the pooled assets of eight Midlands-based local government pension funds. Since its launch in April 2018, LGPS Central Limited has become responsible for around half of our Partner Funds’ £45bn of assets. The volume of assets under management is expected to grow rapidly over the next few years, particularly in the private markets area, as new pooled funds are developed and launched. A range of fund launches is planned for this financial year across numerous asset classes.
The aim of LGPS Central Limited 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. We are committed to fully integrating Responsible Investment and Engagement into all our investment processes and investments.
The management of Local Government Pension Scheme funds is going through significant change, providing attractive 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 welcome interest from all sections of the community.
LGPS Central Limited is now seeking to recruit a Portfolio Manager to be based in the Wolverhampton offices of LGPS Central Limited. The successful candidate will join our Private Markets team working on private equity and private debt fund and direct investments.
The role will involve originating, analysing, performing due diligence and monitoring investments.
The Private Equity team plays a key role in helping Partner Funds meet their strategic investment allocation aims as well as their return targets. The role is challenging and rewarding and requires a competent, analytical, self-starter who can effectively support the team deliver its objectives.
The ideal candidate will hold a degree level qualification and/or a relevant industry qualification with experience of and knowledge of financial analysis of private equity and / or debt investments of 5 years plus. You will be expected to continuously update your learning and knowledge in post.
This role is part of the Investment Team within the Private Equity & Debt (“PED”) Group as a Portfolio Manager. Based in the Midlands (Wolverhampton), the successful candidate will report to the Senior Portfolio Manager, Private Equity & Debt.
You will work with your peers in the PED Team to support the build out of a professional, high performing investment function.
Specific responsibilities will include working on investing the PED Funds and direct investments, managing the investment portfolio, expected to reach c. £2.5bn over the next few years, and ensuring adherence to relevant responsible investment and risk and compliance policies.
This role is a certified role under the Senior Manager’s Certification Regime (SMCR) and will be subject to assessments in Fitness and Propriety and any other such requirements set out by the regulator.
- Establishment of new fund vehicles
- Performance management and reporting
- Supervision of junior team members
- Health and Safety
Delegated Authority Levels:
- Senior Portfolio Manager, Private Equity & Debt
- Executive Directors, Board, Non-Executive Directors, Heads of Service, Investment Directors, Portfolio Managers and other LGPSC staff
- Investor officers, shareholders, third part managers, market intermediaries, other LGPS pools
Need to do
- Assist the PED team in the Management of the LGPS Central private equity and debt funds (expected to reach c. £2.5bn in the next 3-5 years)
- Document and ensure that you meet the relevant investment targets of the Partner Funds.
- Under the supervision of the Senior Portfolio Manager, PED 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 net returns.
- Provide documented assurance to the Senior Portfolio Manager, PED that your investments are managed within the parameters set in the Private Placement Memorandum and the LPA, 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 Senior Portfolio Manager, PED, implement the creation of new external mandates or the retender or consolidation of existing external mandates.
- Always follow the Company’s manager selection, appointment, monitoring and reporting framework
- Adhere to LGPSC Responsible Investment Policy and commitment to sustainable business practices.
- Under the direction of the Senior Portfolio Manager, PED deliver a transparent, auditable and repeatable investment process.
Need to know
- Experience of investment/financial analysis within private markets, especially private equity and or private debit, 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, CAIA or similar qualification or relevant investment experience would be a plus.
Values and Behaviours
- We are a great place to work
- We are Client Focused
- We are Inclusive
- We are Ambitious
- Open, fair and transparent, acting with integrity
- Doing the right thing
- Honest and trustworthy
- Empowered in making right decisions
- Collegiate and Collaborative
- Valuing and treating everyone equally
- Listening to individual ideas to support growth
- Constructively challenging the status quo.
- Accountability for results and delivery
- Friendly, honest and supportive
LGPS Central Limited provides an exciting, supportive and family-friendly working environment, and we are committed to helping our people achieve their full potential and a healthy and flexible work-life balance. We are an inclusive employer and offer equal opportunities to all regardless of an individual’s age, disability, gender identity, marriage or civil partnership status, pregnancy or maternity, race, religion or belief, sex and sexual orientation. Candidates who declare that they have a disability and who meet the essential criteria for the job will be offered an interview.